SPY: GOOGL And AMZN Are Moving On Up

Published 08/01/2016, 12:34 AM
Updated 07/09/2023, 06:31 AM
SPY
-
GILD
-

“A man is rich in proportion to the number of things he can afford to let alone.” Henry David Thoreau

Another solid week for stocks who continued to act just great and as they should in a strong market such as we have right now.

I did have to sell out of Gilead Sciences Inc (NASDAQ:GILD) and take a couple dollars per share loss but all my other positions continue to work well.

The good news here is it frees up some capital to put to work in the many new buy setups

SPY Daily Chart

SPDR S&P 500 (NYSE:SPY) remains in this horizontal channel which continues to imply higher prices are to come.

I’m still long SPY from 202 with a 10% weighting with 215 or so still my stop area.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.