Monday's half day trading day in lieu of the fact that it is Christmas Day! Blessed Christmas folks!
As predicted, it's a downward trend on Monday, so does this in effect mean that it will be a further downward trend when markets open on Wednesday? I think there is likely to be more downside for this week. The SPY will probably try to test the support which is the top of the Kumo (Cloud) and then it will bounce upwards.
This bouncing upwards is likely to be over the next week. But whether that happens or not, it will depend on the performance of the market this week starting from Wednesday till Friday. I am looking to sell a Call Spread, but that might be an unwise decision considering that the market can throw a curve ball at you.
The better thing to do is to sell a Put Spread as the support might hold it at bay. How was this all pan out, will depend on tomorrow's market performance. :)
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