1 of 2: Market Short (SPY) For a Loss Today

Very frustrating to see what I believe to be a very high % opportunity as a day trade and have it not go my direction.

Here’s what I saw in the $spy short below 179.


Broad Mkt (photo not the market profile chart I usually watch but will have to do.


I gained conviction from seeing sellers keeping price below the 179 area.  Tick kept banging away and so did the AD line.  I had a strong conviction that price would at least visit 178.5, probably lower.

After seeing IWM trade all the way down to the figure, the dow making a higher low with a north east slant, and SPY hold after making a new low I bailed at the figure two time.  My biggest winner was only 10 cents and the plan was never to begin scaling out for 10 cents.


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