DecWk2 - Friday (SG time) Morning Update

The SPY's performance last night was predictable to say the least. It hit the resistance level that was the Kumo (Cloud) and decided that it was too much to push through into the unknown.

So instead of pushing through, it decided to pare off gains from the previous trading days and sellers came in. The performance was a straight bear. At first it was on a slight upwards movement, but it was short-lived as sellers brought the price tumbling downwards.

It was tumbling downwards so much that I even got hopeful of a Put Spread trade that I could sell. That would be sweet. But I decided that I will sit this one out and relax.

True enough, it dipped further. I think if it continues to dip downwards, there could be a strong case for a Put Spread tonight when DecWk2 will be expiring. Sounds exciting people.