The bottom line, the short-term trend is not clear. I hold partial short position overnight because the mini price target hasn’t met, not because it’s safe to do so.
Mixed signals for tomorrow, but I’m a little little little little bearish biased. Yes, I’m fully aware that huge POMO starting from tomorrow and everything is supposed to be up except perhaps the Dollar, but I still have to respect the chart. And yes, I’m fully aware perhaps most of you are thinking that chart is no longer needed because this is not a free market anymore. Well, we’ll see.
When CPC <= 0.80, 14 out of 18 times (78%) recently a red day the next day.
The reason I put a lot “little” before the “bearish biased” is because tomorrow is called “bullish Friday” and never have we had a single red day on SPY since the current rally started.