SPY Trade on Mar 23, 2020 09:31 from J_Matrix: Tradervue User Stock Trades.

Thesis:
Moving the Market
-- Stocks extend rout at open despite new stimulus actions from Fed
(The Price action shot up premarket at 8am on this news and topped out at a critical pivot point of 240, proceeded to reverse. Yesterday's low was at 228.31 which was also a critical support level as it coincides with a Weekly Horizontal Support dated Dec 16 2016.)

-- Senate preliminary vote for stimulus package failed last night; revised plan to be voted on today
(The world is looking for aid from the government as depression continues. Had there been a deal made, that would as least bring some sort of hope to the markets. However, the fact that the deal failed had me leaning towards a bearish bias for a continuation at the open.)

Fundamentals:
$SPY continues to show RVOL on a daily basis over 2.0 with the ATR of 15

Reading the tape & Trade management:
The tape was heavy from the premarket to the opening bell. My intention was to get in short ASAP with my underlying risk at 228.50. As the price got closer to my risk area, I sized in along the way. While this is not an optimal scaling in strategy as I didn't wait enough for confirmation. Target was at the 220-222 area when the Fed announcement came out at 8am. The proper SAFE short entry would have been at 9:36am risking 228.50. Not 9:32am.