Things are Getting Strangely Optimistic...Sort Of SPY

Fitting with the schedule, I am imagining another 5 or 6 days of relative flatness. I think a retrace to 377.7 (my favorite numerically), is feasible in that time. This is also where we have the gap from yesterday so it should be filled today.

I would then expect either the stimulus to move along further or some other excuse to send us into orbit to top out at our projected 400ish area.

Until then, I would stay on the sidelines, and I would follow the boost with minimal at risk when that time comes.

The cracks are definitely starting to show and the upward thrust is becoming less and less convincing as time passes.

Best of luck to you and your trades, have a great day ahead.


=FIB