I’ve posted this prior but it bears a repeat. Over 80% of the time if $SPY makes a new ATH then reverses forming a bearish engulfing candle (like yesterday) it moves higher the next session which is why holding puts overnight & buying at the next open is often a losing trade. Today is a perfect example. $SPY even notched a new ATH today. 🎯
I’ve posted this prior but it bears a repeat. Over 80% of the time if $SPY makes a new ATH then reverses forming a bearish engulfing candle (like yesterday) it moves higher the next session which is why holding puts overnight & buying at the next open is often a losing trade. Today is a perfect example. $SPY even notched a new ATH today. 🎯