But signal trigger from 9SMA sloping up, candle above the 9, MACD crossover and rising RSI. Looking for a 0.40-0.55 or until the buy signals are no longer valid.
The $SPX is testing its 200sma on a daily chart, on a weekly chart, we are seeing a bearish engulfing candle (2 hours to go for close).
Next short-term support is $2950.
$VIX back above 40
Update.
SPY has moved higher but this trade is still in play. Recommended course of action would be to sell here but be prepared to buy back if we cross both the yellow resistance line AND orange line.
Trend meter indicates possible further bullish action but all other indicators suggest a drop from here.
Also possible, we could grind out along the yellow...
