S&P500 Still In Downtrend - SPY | MartinKronicle - Michael Martin
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S&P500 Still In Downtrend – SPY

S&P500

The overall trend is still down, although day traders have made a killing playing the volatility. Long term trend following and day trading are both profitable strategies, albeit both have different risk preferences.

The June’s can go to 1120 on this chart and be right at the trendline. On a discretionary basis, my preference would be to look to go short if the contract sells off after reversing off the trendline.

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