Based on last night's SPY's movement, is this the start of another highly volatile up and down roller coaster movement? Maybe.
The candlesticks are relatively large and they are upwards and downwards movements which seems to suggest that there is some kind of uncertainty or indecision? Hmm.. I think it could be a bearish signal. Why would I say this, well, for one thing the SPY is already at an all time high. There can only be two results, either up or down.
I am more inclined to think that it might be a downward movement. I say this because the Kijun Sen has cut across current price which is represented by the candlestick. It is generally a signal (at least for me) to take note that there might be an opportunity that it might start a downtrend. Am I right? Well, let's see what the market gives us tonight.
That said, I sold a Call Spread last night. My guess is that it cannot go any higher. $153/154 at $0.04 premium. :) Hopefully I will win this week.
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