I want to apologize for being absent. i just moved to a new place so the boxing and parenting duties were a priority. I am not completely done, as you may notice, I am only writing my $SPY read today, and not my setup.
Huge days last Thursday and Friday. Market ramped up to new highs, and it still looks like it wants to make new highs. The $NYMO is extremely close to reach overbought territory as illustrated below.
The $SPY ran over my educated guess of 160.37, and went as high as 161.88.
As excited as I am to see market making new highs, I still have to advise caution. Make sure that you only take A+ setups, and keep a short leech on the stop, you don’t want to get trapped.
$SPY 1st support is 161.00 2nd support 160.45 and 3rd is 159.94.
$SPY 1st target is 161.88.
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