SPY - I still think $520 is on the table for Q2
$SPDR S&P 500 ETF Trust(SPY)$ For the first time since 2022, the S&P 500 BX closed š“
This isnāt a signal to short the marketā¦
But it definitely isnāt an ideal environment for upside either.
The monthly trend is still holding above the bias, and I still think $520 is on the table for Q2.
I was looking for a short-term bounce to $590 before the sell-off ā thatās where I planned to enter puts.
But we never got itā¦ and at this level, the RVR just isnāt worth it.
Best case? We bounce in April to $580ā$585, and I get the short setup I was waiting for.
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