$SPDR S&P 500 ETF Trust(SPY)$

The SPY is showing a bearish development, forming a rounded top with a pattern of lower highs and lower lows. It closed right at the 5-day simple moving average, signaling exhaustion in the market. It appears that the market is tired and may be on the verge of a significant downward move. After nearly two weeks of watching, I believe the setup is aligning, and I’m considering taking a put position to capitalize on the potential drop, as the trap door could finally open.

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