Trading Signal Overbought – Next Two Days Determine Markets Move

Our Piker Signal on SPY is Overbought by 3.5 STD, it has happened a total of 32 times since 2005. You can see from the chart below that the next two days determine where the market goes for the next 10 days. If there are multiple down days, the trend continues for the next 10 days and visa verse for the bull side.

This makes it clear how to play the next 10 days.

Bullish – Above 455.70
Bearish – Below 454.50 –

We tend to lean towards the bearish side here with the market nearing the highs from 2022-2023, and with the breadth over extended.

The Trade – Short via SPY, SPX Options you can chose with stops above 455.78

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