SPX / SPY - Morning Update

Morning pop on SPX resulted in high of 3158.
Blue lines on chart are support and resistance (more than 6 total points of contact).
Price has barely exceeded resistance today, showing a topping tail (price exhaustion - no buyers).
RSI starting today at over 70. RSI at over 65 for a month.

Based on previous trends, we should go down to blue support.
Break of 10Week MA will confirm downtrend.

The next few days will determine if SPX/SPY goes into correction here.

Good hedges if you have Puts: Thanks to DaddySawbucks for discussing this morning.
Create a debit spread to limit your losses.
Buy a SPY bullish option (only if you are convinced higher this week - I am not yet).
Buy a farther out Put additionally to the current Put (January expiration or later).
Or just cut your losses.

I am watching this carefully. I will update as things change.

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I am not a financial advisor. My comments and reviews are based on what I do with my personal accounts.
Disclosure - I am long MARA, GBTC, BTCUSD, GDX, VIXY.
Short SPY and AAPL.