Short SPY on breakdown of bearish wedge

Mar 26, 2015

Yesterday the SPY closed lower than the rencent uptrend line which can also be attributed to the lower boundaries of a bearish wedge pattern. Watching closely to see whether the market will open with further weakness and will short the SPY if it does. Initial stop is at 209.37 but will look to close the trade on any signs of strength. This one will need a tight stop. Will consider re-entry if stopped out.