Bessarn

$SPY Price gave back all the overnight gains after almost touching 675. The market is clearly in a downtrend, and anyone can see that if they just zoom out a little bit and check higher timeframes. Price is trading below key SMAs on the daily and other timeframes, so I really don’t understand all the bullishness and early ATH calls on here. Spy can rip back up all the way to 688 and it’ll still be in a downtrend. I’m not shorting to be cool or to stand out for engagement, I really don’t care, I’m shorting because the market structure favours shorting based on probabilities, regardless of the outcome. The plan is the same: I’ll hold the puts I have for now (660 April 17), I’ll scale in more if we see 675, and I’ll scale in a lot more if we see 682. The main target is 660 and the extended target is 656.