Jhergoan

SPY short momentum increases, however wait up to "re-short"

Kort
AMEX:SPY   SPDR S&P 500 ETF TRUST
SPY short momentum has just taken out previous day's low. When seen on the daily, there is expectation that even lower lows will be set. However, for those that are looking to short it would be better to wait for a bounce back 277 for an entry. For those that are more aggressive. A daily red 3 has been set that is below a red 2. This signifies entry opportunity on the daily.

Trading idea:
  • Enter SPY short @ 277
  • Enter SPY short at discretion of the trader at any point of session tomorrow.
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