Downtrend Should Begin Today

Downtrend Should Begin Today

Shorting is hard work. I was having trouble trading in and out of my puts on Friday so I just decided to hold onto them because SPY has broken the uptrend (A) and has not climbed back above trendline A. I will exit my puts only if SPY climbs back above trendline A. For today I am expecting another wide range with SPY potentially trading as high as ~115.3 (backtest with trendline A) and as low as 112.4. SPY is gapping down ~20 cents, I expect this gap to be filled.

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