And here we go again to try to make new highs. I think it is amazing that once the $SPY and the market in general reach a level where most traders see on their chart that the markets are overbought, but no one wants to look foolish and call it. You know what? I feel the same.
Let’s just watch this, and keep a note on the back of our mind, that for the past 3 times that we got here we sold it hard, and we may continue to do this for the next 9 months. A complete day traders market, where holding overnight is as foolish as trying to predict a top.
$SPY 1st support is 156.90 2nd support 156.41 and 3rd is 155.43.
$SPY 1st target is 157.21.
Trade what you see not what you think
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