We opened with a gap down after a doji candle yesterday, and that was after rejecting at the 127.2% Fib on high Stochastics. That looks pretty bearish. I should hold and see if we close below the 8ema or not before exiting because we may not and then bounce back up tomorrow. However, the SPY is making an Island Reversal today (see chart below), which is very bearish.
I was going to hold, but based on the new information provided by today's price action, I decided to get out. I can always get back in. I sold the spreads for .64 each and had bought them 1/23/17 for .53, so I made $11 per spread. Remember I also made $143 on 1/26/17 on this trade. All in all it was a good trade.
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