It was a quiet half day Friday until near the close when the S&P took off, again. We’re very overbought here now so expect a little consolidation before the next wave higher into year's end.
It was a quiet half day Friday until near the close when the S&P took off, again. We’re very overbought here now so expect a little consolidation before the next wave higher into year's end.
This steep uptrend channel in SPY won’t last forever.
Sell signals are either a break of the channel on the downside, or a break above it and retracement back into the channel.
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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