SPY On The Move To 210

Published 05/11/2016, 02:51 AM
Updated 07/09/2023, 06:31 AM
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SPDR S&P 500 (NYSE:SPY)

"A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done." --Vince Lombardi

The S&P 500 gapped up nicely this morning and continued to show strength all day.

Many stocks are still floundering, but Amazon.com (NASDAQ:AMZN) and Facebook (NASDAQ:FB) are moving well, and I did take a starter position in FB.

Looks like I will be buying a few stocks this week after all.

SPY ETF Chart

SPY - May 11, 2016

SPY is moving great and is on the way to 210 resistance now.

I have no idea if we can soon break into new all-time highs but I’ll be on board if we do.

Volume is weak, but this move is good for a short-term trade.

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