The weekly chart of SPY shows a pretty flat close again. If price continues to compress it will build pressure for a likely large breakout…one way or the other.
S&P500 Index ETF (SPY) weekly
Nothing much going on with price action except a little testing of directional strength for which there is none…SPY, DIA, QQQ.
Let’s get rid of a couple of losers.
ETFMG Alternative Harvest ETF (MJ) daily
MJ just can’t catch a bid. I recommend selling it.
Freeport-McMoran Inc (FCX) weekly
FCX got slammed last week. I recommend selling it.
I don’t think it’s a good time to be any more aggressive. Sit tight and continue to hold all other open positions.
Trade Smart,
Don