The SPY sold off on very strong volume this morning and formed a nice bottoming tail on the 10 minute chart. It is important to not that the heavy volume usually signals that the recent trend may reverse as sellers become exhausted in this chart. Then note the bounce higher. It also is important to find chart support on other time frames confirming a possible bounce. Therefore, the more pieces of the puzzle that you find the more you increased the odds that you will have on a scalp trade.
