Despite this early morning pop, SPY still has a lot of potential downside.
Low volume, buyers aren't exactly lining up to buy.
SPY is still at the lower Bollinger band.
The MACD is showing a downtrend.
Personally, I'm holding off on opening any positions yet. I still have short December calls I'm waiting to buy back. When I do short sell calls or puts, it will most likely be in Jan 2022 expiration. I haven't decided on a direction.
Low volume, buyers aren't exactly lining up to buy.
SPY is still at the lower Bollinger band.
The MACD is showing a downtrend.
Personally, I'm holding off on opening any positions yet. I still have short December calls I'm waiting to buy back. When I do short sell calls or puts, it will most likely be in Jan 2022 expiration. I haven't decided on a direction.