Long

SPY: Potentially rebounding off weekly support here

Updated

The correction I anticipated as per weekly signals panned out, market is now at support. Don't be shocked if we bounce from here.
You may go long if you're swing trading, risking $50 down from entry.

Cheers,

Ivan Labrie.

Trade closed manually

I think the market may have peaked here after rebounding from support. Better to exit and add to gold / bonds.

Comment

Daily #SPY could turn up from here, but the options market is signaling caution, same as other technical and fundamental indicators.

A sideways/down move is more probable overall, like the weekly chart implies, until risks are out of the way by next year.

IvanLabrie

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