SPY Looking For A Move Higher
Warren Bevan | Mar 17, 2017 02:32AM ET
“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.” —Ayn Rand
A bit of giveback Thursday after the sweet, sweet action of Wednesday afternoon after it was announced the interest rates are increasing 0.25% as widely expected.
This was baked into the market, as I’ve talked about, and the apparent weakness of Tuesday was just to shake out the weak hands.
All good still as we continue to trend higher.
As for my Direxion Daily Gold Miners Bull 3X Shares (NYSE:NUGT) position I had Monday, sold for a small loss Tuesday, but had a feeling it would work, it sure did Wednesday afternoon.
Can’t win them all but it would have been nice.
SPDR S&P 500 (NYSE:SPY) is fine and looking for a move higher once it finishes this consolidation.
Superb action with volume where it should be, low on weak days and high on strong days.
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