SPY | Informative | 200MA as Support line

15 Jan 2022

SPY

Do you know MA200 was maximum pain for spy corrections? It used to happen at least once each year, but for the last two years, MA50 was the support line. As I see all these day-dreamers, master of universes, Furus and Gurus talking about 500$, 600$ from this point now, of course, it's possible, anything is possible in the market, But the fact that no one remembers the past is frustrating, we should expect anything now, I believe we are going to hit MA200 very soon, 440$ is the minimum price target, and then we will see.
FYI: I loaded PUTs for Feb 440$, and I didn't close any of my short positions; I am short on QCOM, BAC, PTON, IWM, QQQ, MRNA. and I'm long UVXY, PFE

*This is my idea and could be wrong 100%.