SPY breach of 20 MA triggered sell signal Monday and follow through with gap down Tuesday.
Many tech names gave nice bounce trades after the gap down, specially semi conductor/chips names.However daily chart still in bears control. There are few possibilities here. Today’s low could be higher low for that we need to see 263.15 to hold or we test the low 259.80/260 and bounce or a complete break down below 259.80. I am keeping an open mind and will just trade price action as I see it. Once again, if you are an active trader, plenty opportunity both long and shorts. Amazing range both ways.
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