12:30 P.M Took a huge short positions on SPY in Pre market. Covered 50% at 840. Letting the rest the ride out. A close below 848 (wedge border) is what we (the bears) need. Anything above and it would be a fakeout. First target is the 20 MA. Will take off another 20% at that place.
3:55 p.m waterfall that is what it has been today, Looks like the wedge is positively broken, we may get an attempt on the underside of the wedge over this week. If at all, it would be a shorting opportunity.
Trade: took profits on JPM shorts. Leaving 20% of position on.
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