For the first time in weeks (not even sure how long its been) that my market strength strategy I run on the SPY to gage market tends has shifted from long entries the past several weeks to a short entry today.
What does this mean? Well, I run a strength strategy to help me gauge risk in the side of the trades that trigger. It helps me figure out position sizing, how many stocks to run at any one time on one side of the market, and just how many trades to take if triggered in a series of days.
Basically, for the first time in a long while, I just now got an entry short in the SPY. I won’t trade it, I only use it a a gauge. But its interesting to note that the trends, especially mid-term weekly) are changing tides.