A great week of rest as we work off overbought conditions. Stocks continue to set up and I’m even spotting a few cup and handle patterns that are nearing completion, just in time for the run into years end.
A great week of rest as we work off overbought conditions. Stocks continue to set up and I’m even spotting a few cup and handle patterns that are nearing completion, just in time for the run into years end.
A test and hold of the 21 day average around the 218 area would be the ideal consolidation here and so far that outcome looks quite probable over the next few days.
These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas to see the rest of this letter.
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