SPY: New Highs Possible After A Nice Consolidation

Published 02/10/2015, 03:03 AM
Updated 07/09/2023, 06:31 AM

These are my thoughts on the SPY ETF


“Life is thickly sown with thorns, and I know no other remedy than to pass quickly through them. The longer we dwell on our misfortunes, the greater is their power to harm us.” – Voltaire


Yesterday, was a very quiet day for the most part and that was good. Really not too much to say so let’s jump right into the charts.

I took a small trade in (NYSE:FRO) but that’s it for yesterday.

SPY Daily Chart

A few more days and we could have a nice little consolidation area that can power (ARCA:SPY) back above 207.50 and into new highs once again. Until then I’m not really doing much with many stocks just not having great patterns at all for the moment.

Patience while we wait. February does tend to be a weaker month but then things can pick up well in March.

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