$SPY – sideways chop ends the downtrend

Following the red…

The midday sluggish summer trading cancels out yesterday’s intraday downtrend leading possibly to a trend reversal (long with a tight stop).

Near week in the money 219 put closed for 60% on the trend signal, 5% from today’s open.

The downtrend resumed into the close. Update on Twitter: :

(right click on UPDATED chart for a larger view)

SPY_RED_2016-08-09_0957

 

 

 

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