SPY bounced down after hitting the .618 Fibonacci level. We also have the 200 day moving average acting as resistance. This could get ugly below the 50 day. #spy #spyshort #stocks
Spy seems to be overbought and the MACD may be turning here. 3 bounces off of the 50 day moving average. Shorting out to May 15. Stop loss would be at 282.