I allocated some more of my portfolio to SPY on the pop that we are seeing this morning at $129.81. Between 1300 and 1302 there is a lot of technical resistance that should cause some headaches for the bulls to push through. On the Fibonacci retracements we’ve seen the the S&P give back +50% of its losses, and may even run to the next resistance level at 1305 which would be the 68% retracement.
On another note, I tried to short NVDA at $17.85 this morning but no luck since ThinkorSwim doesn’t seem to be in the business of filling orders any more despite me even trying market orders and anything else I could possibly think of in order to get a fill.
Here’s the Chart on the SPY Trade.
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Passive investing can be a great source of funds for retirement and for building a nest egg. In this podcast episode, a husband and wife asks Ryan's thoughts on building a SPY position on just $2/day. While consistent building a nest egg, is great, the timing and strategy in doing so is just as important.
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