Update Short SPY at least taregitng 280. RSI analysis
RSI analysis showing clear weakness and strong resistance with RSI down trend started a year ago its keep making lower high which indicate market weakness for coming weeks.
As explained before , overbought status for all indicators . the best opportunity to short positions and selling SPY when make new high during following days between 295-300 then can collect profit when dropped to 281 . then if its broken with volume it will go to 272 then to 263 . after that i expected bounce back again to area of 280 then may drop again to make double support at area of 260s.
This note: was 5 days ago ""Recent trading days were with higher volume perhaps we will have new record at any moment and the market will drop hardly ""...
As explained before , overbought status for all indicators . the best opportunity to short positions and selling SPY when make new high during following days between 295-300 then can collect profit when dropped to 281 . then if its broken with volume it will go to 272 then to 263 . after that i expected bounce back again to area of 280 then may drop again to make double support at area of 260s.
This note: was 5 days ago ""Recent trading days were with higher volume perhaps we will have new record at any moment and the market will drop hardly ""...
