SPY - short squeeze - or more down?
Updated
Bear Market trend on SPY looking to continue, but could we get another short squeeze similar to the set up leading to the brief Sept squeeze in 2022?
Based upon regression trend analysis and general market strength or lack there of, I don't think we see much of a squeeze for SPY here...will be adding to short positions on these modest price increases that appear to be more related to limited stock buy backs and some year end tape painting. More down on deck IMO.
In terms of seasonality - January 2022 was weak and I expect pretty much the same in 2023 - or worse. Will reassess if we gat a SPY close above 387. NFA.
Based upon regression trend analysis and general market strength or lack there of, I don't think we see much of a squeeze for SPY here...will be adding to short positions on these modest price increases that appear to be more related to limited stock buy backs and some year end tape painting. More down on deck IMO.
In terms of seasonality - January 2022 was weak and I expect pretty much the same in 2023 - or worse. Will reassess if we gat a SPY close above 387. NFA.
Note
closing out of my short positions today - with this sideways action it is looking more like a squeeze/uptrend will occur in the near term. Thinking maybe SPY to around the 405 level. NFA.
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.