SPY Softening

The SPY is hitting supply at around the 96 area note also that the price actions are in the lower range of the bar. Trading volume is not there yet but may accumulate in the days ahead. We may see further weakening in the SPY as major averages are very overbought.

The above condition present an opportunity to trade SPY using the Ultra Short SDS. I bought 100 shares at a cost basis of $51.55 including commission.