S&P 500 (SPY) ETF Short Trade Update

2 May

The markets rallied a bit today on some good news. This caused me to get stopped out of my short setup on the S&P 500 yesterday. My stop was at $159.50 and the high for today was $159.89. Looking at the price action, with the high being rejected today and price closing at $159.75, I decided to re initiate my short position. The volume today was low at about 93m shares.

I shorted at $159.80 at around 3:35pm today. I put my stop above today’s high at $160 just to give it some breathing room.

Here is the SPY’s chart today:

S&P 500 Daily Stock Chart

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