We got taken out of the SPY at 179.56. This is a flat trade. The trend may have changed. Tomorrow look for the back test of the PP and take it short if we bread the 178.62 line first. Or for a more conservative traders you will have to wait until Wednesday after you get two days closing below the PP then take that short. Warring we are still in an up trend. Only trade is short for tomorrow if we get the back test after the bread of the 178.62.
Trend is still up unless we break the 178.62 on the daily to the down side. That is the line in the sand. Tomorrow, we still have a target above us at 181.39. Trend is still up. Until we break the 178.62.
Options were also taken out with a loss of .05. Manage your losses and let your winners run.
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