Being on the verge is always good. Isn’t it?
My buddy, let’s call him Virgil, has been on the verge of golf greatness for months. Mostly good solid shots tee to green with just a handful of errant results.
According to Virgil, let’s call him Virge, being on the verge is always good. He explains to me that when you go past the verge (into greatness) you are on the precipice and it’s easy to fall. When you go backwards from the verge you basically suck and you want to be on the verge again. When you think about it Virge makes total sense about being on the verge. This is a totally true story.
The S&P 500 index is on the verge.
SPY, the S&P 500 index ETF, closed Friday right below resistance. Price is on the verge of blasting through this area full of nasty sellers. If we can get through this price zone it just might create a little short squeeze momentum to clear the all time high. Or, the nasty sellers will take her down again.
It’s good to be on the verge.
Continue to hold all open SPY recommendations.
SPDR’s S&P 500 Trust Series ETF (SPY) daily
It was a good week. Interest rates didn’t move much. US markets were up and we had a granddaughter. Oh, and the tech ETF (XLK) made a new all time high. So did consumer discretionary (XLY). Beam me up Scotty.
Hold
For that matter, hold everything (open recommendations).
No trade alerts this week. Have a good one.
Trade Smart,
Don