The S&P 500 ETF SPY (NYSEARCA: SPY) is moving very slow lately. Fast or volatile markets are usually bear markets as you remember in November and December.
But slow markets are usually bull markets.
This slow tight action is something that requires extreme patience but the market's moving up, so let it go.
(Click on image to enlarge)
But, But, But...
But, but, but it's extended, stretched, has to pull back, right? Yup. I think so too. But as I said yesterday I want to give this market room to keep rising with nearby stops.
Really, Really
Do you want my really, really? My really really means, ok all the article fluff, market going up, tight ranges, slow, extended, yadda, yadda, right?
Now it's time for my really really.
Really, really, I think this market is about 5-10 days from absolutely exploding to the upside. Tell me that doesn't make you smile. Tell me.
I think Trump will sign anything he can with Xi, do a victory lap and then the market can accelerate on the upside after that. The market has a couple of weeks to get excited about their end of month meeting. Then when it happens I think we can have a month of follow through.
After that though, maybe look out. But for the next month and a half, despite all the extended chatter, the market's pointing up. Let it.
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