SPY: Small High Bases
Warren Bevan | Jun 09, 2017 01:12AM ET
“Patience, persistence and perspiration make an unbeatable combination for success.” – Napoleon Hill
Some choppy action on Thursday as we build bases in indexes to move higher from while some stocks just ripped like Alibaba Group Holdings Ltd (NYSE:BABA), which we didn’t have, but Sierra Wireless Inc. (NASDAQ:SWIR) we did.
Gold is looking fine and I’ve got a good chunk of miners for the moment and I am very curious to see if we can get a strong close to the week on Friday.
All in all, there isn’t a reason to be short much, unless it’s an inverse ETF.
I like the little flat channel or bull flag here.
I don’t see this chart pointing to lower prices in the near future.
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