There are a number of bearish conditions currently on the S&P 500 chart:
1. Death cross (50 day SMA crossing below the 200 day SMA).
2. 10 day EMA has broken and is now acting as resistance.
3. RSI back to neutral levels - room to give.
I am short here and am also selling out-of-the-money calls on the SPY.
1. Death cross (50 day SMA crossing below the 200 day SMA).
2. 10 day EMA has broken and is now acting as resistance.
3. RSI back to neutral levels - room to give.
I am short here and am also selling out-of-the-money calls on the SPY.
Note
This was a losing idea.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.