SPY and indices could be at a location for short
I have been waiting for a few things to play out before even dreaming of posting the idea of a short. But we are at a spot I will be seeing how it plays out and it may not fully trigger till next week, but figured give you heads up.
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The market is trying real hard to invalidate this idea before it even take hold.If the bearish tinkle i saw goes away i will just end this thread.
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After last post I looked at the other indices and they have a much better set up for short, so kept me still interested in this spy trade.
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Tomorrow will be watching todays low. this action is what my minds eye was seeing. i did around noon start a teaser short play.
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This trade real trigger is next week, however if we go below yesterday low I will add a bit more to the puts position. Still keeping risk low with vertical spreads.
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I will again start new when set up occurs. i see this taking at least 1 week to play out. if happens any sooner will post what I see then.