SPY short time. Was that really a bear wedge?

ONly if you believe in true technical analysis and have confidence though. COnfidence in pulling the trigger that is. What i am looking to get into is some short side SPY puts, since you cant borrow anything with volatility! I am basing this decision on this weeks bearish trading activity and the set up for tomorrow. Remember equity options expire tomorrow, and from my experience when you have a week of semi bearishness Friday is the day you *usually* get the sell off, with added volume and volatility from option expiring. Maybe some shoe will drop tomorrow grinding the marks down, who knows. The chart over there is of the SPDRS or SPY for the newbies, the main focus being the new downward channel highlighted in dark green. If we mind this channel we are a textbook short until the mid channel line. Then cover half cover all once we hit the bottom of the channel. The QQQQ’s have this same formation, but more pronounced because of their larger sell off. Hedge accordingly.

 

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