SPY Trend is Weekly Up Daily Down

Screen Shot 2020-02-22 at 6.40.49 AM

We had a close below the Trailing Stop. So the trade reverses to the short side. I have closed the Calendar and the Long call. I am now in a 70 delta Put. Open position is a 3/20/2020 expire 341 put for 9.17. This looks to me like a top is starting to form. The last top formed around 1/22/2020 and is being tested now. The pull back tested the 38.2 fib level so let’s see if it holds. Fed is saying they are going to let off the accelerator here real soon. We have the Corona Virus spreading outside of China. Hang on this may get interesting.