SPY huge dump on Wednesday and a dead cat bounce on Thursday. So far it’s just a dead cat bounce.
SPY making lower lows and lower highs below 200 MA. Bears still on control. The play now is shorting resistance. 1st step of healing process would be a close above 8 EMA. A break below Wednesday’s low leave the room to rest 260 area. Slim picking as far watch list. We are mostly trading index ETF’s long or short , TVIX and some earning news plays for day trading.
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