The Risk Ladder measures risk sentiment. Risk off implies higher risk assets are being sold. While defensive assets are outperforming. Weak form indicates mixed or bifurcated sentiment.
However the SPY gave me a good enough signal with some decent volume behind the move that I was able to take the trade with a good risk to reward as the hourly resistance was/is 194.50-194.85. My entry was 193.75 as the shake out candle (check the chart) reversed. I exited at my target of 194.50 for $0.75 per share.
Review today’s Market Recap and see where the market goes from here
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