Headfake?

Hello Traders,

To go or not to go, that is the question.

Volume was light, but yesterday we did have a break of short term resistance in the DIA an a break of mid-term resistance in SPY.

Today we tried to build on that, but with 20 minutes to go, we have sold off from highs (as we did yesterday).

With the weekend coming, are longs going to exit? Are new longs going to come in?
Could be a low risk high reward trade to buy puts, enter covered calls, enter bear call spreads.

The DOW still hasn't taken out resistance from Jan/Feb at 8300/8400. SPY still has resistance at 88.05 from Jan/Feb.

As I mentioned above, regardless of your direction or strategy, it all comes down to your RISK/REWARD and your money management from ENTRY through EXIT.

Happy Trading
Trader B