Indexes Looking Good, Waiting For A Volume Increase

Published 02/11/2015, 02:24 AM
Updated 07/09/2023, 06:31 AM

These are my thoughts on the SPY ETF


“Men’s best successes come after their disappointments.” – Henry Ward Beecher


Kind of a quiet day yesterday even though markets were up well enough. While markets look good for higher, stocks are not really showing great charts for the most part and the action isn’t stellar either.

I did mention that February can tend to be a slow month so another couple or few weeks of basing and seeing charts setup nice patterns could really propel us into the spring nicely and that would be ideal.

It is always best to see stocks moving higher out of nice bases.

SPY Daily Chart

SPY looks ready to go anytime now and I have the 207.25 level as a potential buy point but I’d really prefer to see a large volume increase as it breaks out.

I’m still trading small and not holding much or anything overnight except a little Twitter (NYSE:TWTR).

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