A SPY Trade
The S&P 500 is toying with the 50 DMA right now. The day activity was not so bullish and looks like it will be rejected at this level to trade lower. We have the 200 DMA and the 50 WMA both sitting at 280, which should act as good support. I would be a seller of the SPY around the 294 level. If it breaks out meaningfully to close out the day above this level with the VIX down, I would cover my short and get long the SPY,particularly the facebooks and amazons of the SPY index. You can cover your short at around the 285-282 level.
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.