Azub

Azub

Changing market psychology from pessimism to optimism. We broke the neckline today which might confirm the bull run. This usually fuels a strong upward move. Watch the volume to make sure it’s not a false breakout.

Azub

Stop losing money on SPY. Try trading with the trend and adjust accordingly when changes happen. Predicting the markets is a gamble and your P/L chart probably looks like the VIX. Once bearish trends form is when we should be shorting this market.

Azub

Will SPY continue rising? Yes of course it will and you should never short this beast unless you understand the risk. The trend is your friend and you should embrace this strong bull run. However, set your stop losses as volatility and greed grow. I’m expecting a substantial correction at the end of this rally. It looks completely healthy for a drop before we...

Azub

I am expecting a bullish breakout from the 466/468 channel.

Azub

I expect SPY to remain inside of this channel today. Then, a movement out of the channel on Monday.

Azub

It’s indisputable that SPY has had a strong rally. It was only a matter of time before profit taking was necessary. I expect the moving average to “catch up” to SPY before we continue to new all time highs. I am Neutral or Bearish in the short term.