The bottom line, the short-term trend is up but I hold no long position over the weekend.
SPY has been up 3 days in a row but volume kept decreasing for 2 days, short at today’s close, surprisingly it’s high likely being a winning trade even during the mad cow period last year. Considering all the top signals I mentioned in the last night’s recap, I guess the chance might be good that the setup may work again this time, although I personally don’t like this kind of anti-trend setup. Well, we’ll see.
Enjoy your weekend!