First Trade Target Reached. Short Position Started at 273.25 SPY.

The target short range came into play this morning on the S&P 500.

Trade executed to sell short at the target price of 273.25 (SPY).

See chart below for updated analysis regarding current trade:

Watch blue horizontal bands (key price levels in chart above) as potential inflection point targets.

Could see a move back up toward today's highs during Wednesday (4/8/20) trading.
In any case, it was a great start to a short position. Trading plan still on schedule.

Current position: 1/2 Position SPY $273.25 SHORT
Current Plan: Hold.
Future Plan: Consider full position SHORT SELL at 285-295 SPY if market trades higher.

Short-term rebound is still in play, but could fall apart at any time.

Short-term market view: Bullish
Overall market view: Bearish


You can follow this trading idea in its entirety at:
https://www.tradingview.com/chart/ES1!/6dg3ZUN4-Trading-in-Major-Market-Downturn-and-Weakness/