AprWk3 SPY Wednesday update - The trigger has been set in motion. From the charts above, you can see the Chikou Span cross historical prices. This is a weak bearish signal, but coupled with the Kijun Sen cross from the bearish red candlestick last night, we are definitely looking at a reversal Thursday tonight (US time morning).
So will there be more downside to confirm that we are finally approaching the end of the bull-run, or are we going to see a reversal tonight with the SPY shooting back up again. The market is definitely in a state of indecision, while the premiums for any trades might not be looking very safe.
Still, it is good to keep our eyes peeled for any potential spread to sell. :)
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