Per the regular update this morning, the EMA 10 (2056) was noted as key resistance on the S&P 500. Translating that to a bear trade on the SPY, we find the EMA 10 at 206. That is a parameter for the trade. If 206 holds as resistance, the target would be the SMA 50 at around 200.
Sell Short: (outright, put options, short fund, etc.) at or below 206.
Stop Loss: Above 206
Target: The SMA 50
A reminder that chart based NFTRH+ updates are just trade setup ideas, which may not be revisited as the parameters are already noted. They are meant as a starting point for further research if interested. Fundamentals-based ideas are also provided for your further research only.
