SPY going lower this week
Not much to say about the SPY chart except the price action has been flat the last few sessions with a morning gap down followed by buyers stepping in and buying it up for the whole day.SPX and been hitting Resistance about 2600 that it has not broken through and has caused price action to be flat as the bulls and bears fight it out. Look at the MACD and RSI they are both been going lower and lower as the price action stays flat.
The price action could go either way from here honestly but I believe the higher odds is lower based on the resistance above, the MACD/RSI, and current market conditions
please criticize my thinking as I am always looking for differing opinions that will help me get better
Currently holding SPY 257 puts that were bought on Friday 1/11 near EOD
The price action could go either way from here honestly but I believe the higher odds is lower based on the resistance above, the MACD/RSI, and current market conditions
please criticize my thinking as I am always looking for differing opinions that will help me get better
Currently holding SPY 257 puts that were bought on Friday 1/11 near EOD
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