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Assessment: Today completed the setup I was looking for as a signal to a new down leg.
We broke below the red line, then yesterday closed above and are now back below the red line. I will be looking to get short tomorrow PROVIDED that we don’t open the day with a move up that looks to get back above the redline. So, it will be important to see how things open. If we are holding below the red line, then my entry will occur and I will set a stop loss as a move back above the redline.
SPY Chart: https://sblk.io/s/74w4uDF3TGCMHq0
Good luck in your trades!