Upon further review of the chart, the former ‘potential’ T4 on the SPY Active Short Swing Trade idea will now be made an official target at 235.35. With T4 now an official target, a new second stop will also be added with a daily close above 286.08, which offers an attractive R/R of roughly 3:1 for those targeting the new final target. That only targeting T1 or T2 might opt to stick with the previous (now stop 1) suggested stop of a daily close above 279.09, which is likely to be hit today unless we get a late-session sell-off in the close today. Updated 60-minute chart below.
SPY 60m April 14th
SPY remains both an Active Trade, as well as a Trade Setup, as it still offers an objective short entry around current levels following the recent 60-minute rising wedge breakdown, kick-back rally, & extension of the negative divergences that were in place at the previous reaction high on Thursday.