Short Above 118.5

Short Above 118.5

Yesterday's price action was very bearish, fake breakout to the upside, followed by selling. At the end of the day SPY rallied to close above the uptrend line (A). Still my spider senses are tingling and I feel like a big drop is right around the corner. For today I would like to see SPY close below trendline A. Short near/over 118.5. Use an option that expires at least two weeks out.

LOADING
(optional)
(optional)
Copyright 2009. All Rights Reserved.   Site Map
Disclaimer: All content on spychart.net is intended for recreational purposes only. Consult a licensed financial planner before making any decisions with financial ramifications. The author is not liable for any financial, mental, physical, or spiritual loss or damage incurred by the reader.