$SPY rebounds with weak strength, with upper moving averages forming resistance.
$SPY - Empty
Trading Plan:
Entry: 769.50 - 770.00
Stop Loss (SL): 773.50
Target 1 (TP1): 767.00
Target 2 (TP2): 764.00
Target 3 (TP3): 760.00
Why go short?
The price rebound is clearly being constrained by the short-term moving average dead-cross pressure. The shrinking volume indicates insufficient willingness to push higher. As long as the stop-loss defense isn’t broken and reclaimed on increased volume, this weak structure will very likely continue downward in line with inertia to seek support below.
Click here to trade👇
$SPY - Empty
Trading Plan:
Entry: 769.50 - 770.00
Stop Loss (SL): 773.50
Target 1 (TP1): 767.00
Target 2 (TP2): 764.00
Target 3 (TP3): 760.00
Why go short?
The price rebound is clearly being constrained by the short-term moving average dead-cross pressure. The shrinking volume indicates insufficient willingness to push higher. As long as the stop-loss defense isn’t broken and reclaimed on increased volume, this weak structure will very likely continue downward in line with inertia to seek support below.
Click here to trade👇