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$SPY DeMARK Update
I'm seeing today's low as possible short-term swing bottom as the market has digested the bottom well. I'm seeing most traders call for a new low to come. I'm having a hard time shorting now given how we have basically made a classic ABC correction with strong seasonality coming up later this month. I'm going to be tactically trading on the long side on dips and looking for that TDST level near today's low as an anchor point to hold.
Trend factor upside levels all point to the 455 area as the next upside zone which, if the trade idea starts to work, I will be holding for. In this market however, its been a disaster trying to hold profitable positions. Keep your stops below that range low and if it works, try to hold with small size.
Remember, respect the risk always. Have stops. No need to be a hero on this market.