SPY is now at the first resistance level where i have it turning down on the primary scenario from yesterday. however, i should have added an alternative scenario as i did with the XLF 60, which would be a little more upside to the next resistance level before turning lower. i am adding some shorts here and i will continue to scale until the top of that alternative scenario resistance band marked below (138.75-139.35ish area), with stops somewhat above that level.
there are still many active or short set-ups that are pushing back to resistance that may offer objective entries or add-ons to existing positions here. there are also some nice looking existing longs that have pulled back to support on the recent selling but still look constructive as swing trades. the still active MPAA long trade below is one of many examples.
