Replies to post #186294 on SPDR S&P 500 (SPY)

[imiloa]

it's been an odd day in general. VXX and SPY has been aligned as often at divergent or indifferent.
eg: VXX dropping steeply 11:06-11:12 (four 2min candles)
but SPY only rising at first, then leveling.

my general sense is that SPY options traders are very uncertain of direction today
which probably means we should all wait to open new positions until a clear break up or down occurs.

[imiloa]

fwiw, at this point, my hunch is downward next, due to:
SPY at 60min upper BB and d50 overhead
SPY 5min ADX crossing bearish now, with Awe dropping.
SPY 2min ADX gapped bearish, with Awe inflecting downward now
SPY 15min RSI & STO fully OB
and oil showing some weakness now.

but VXX overall trend today is downward
and VXX 2min ADX is gapped bearish now
with 2min Awe negative and candles printing downward.
which suggests SPY options traders think SPY will rally soon.