SPDR S&P 500 (NYSE:SPY)
"What would you do if you weren't afraid?" --Spencer Johnson
More chop today with a side of weakness, and the S&P is still holding support.
This is a great market to avoid, so I’m doing just that.
I will be away for about 2 weeks starting any day now as soon as one small part for the motorcycle arrives.
I’ll need some rest days and do plan on doing some writing on those days, but the blog and nightly letter will be sporadic, at best.
The precious metals are resting, and that is good action, as the new phase of the bull market is just in the very early stages.
SPY is holding 205, which is good action and points to a move higher, but if we do break 205, that level can be shorted with 202.50 the next support area to look at.
Have a lovely day.