SPY: Due for more downside?

15 thg 3, 2023

I've got a supply zone staring at $394 that I think will serve as a temporary top for the remainder of this week. We also have a strong resistance at $393. I may look to enter puts but I am more likely going to try to play UVXY calls with the extra volatility. I'm expecting this to get under $380 fairly quickly and ultimately down o $378 where I see a gap.