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NYSE, China And The Greek

ByWarren Bevan
Published 07/09/2015, 03:31 AM
Updated 07/09/2023, 06:31 AM
SPY
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CENTURY
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“When you set goals, something inside of you starts saying, “Let’s go, let’s go,” and ceilings start to move up.” Zig Ziglar

We saw overnight weakness followed by a bounce and then early weakness once markets opened followed by more weakness into the reopening of the NYSE which was down for a few hours today and caused lots of disruptions.

I’m not really sure if this NYSE shutdown will affect things much but tomorrow will be the real tell.

I’m very glad to be in cash and I am not keen on doing anything until I see at least tomorrow trade without a glitch.

Between Greece, China and the NYSE there is just too much risk.

Also, the sun is shinning so I’ll just deal with it all, reluctantly, outside in the sun as much as possible.

SPY Daily Chart

SPDR S&P 500 (ARCA:SPY) broke the bear flag on a closing basis which points to lower but the 200 day average is right here and is always a major support area so I really have no idea and as such, am all cash and watching and waiting and enjoying summer in the meantime.

Half the battle is having enough ammunition to win the battle once the tides turn so I’m in cash preservation mode with a trade here and there if I see it as I did with SPY Tuesday.

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