SPY Ready To Move To 212.50 Resistance Level
Warren Bevan | Nov 20, 2015 12:47AM ET
“Either you run the day, or the day runs you.” Jim Rohn
A pretty quiet day in the markets today as we setup for a break higher now.
Stocks are acting great, at least the ones I’ve got, and more gains look to be not far off.
I did lock in a lot of my Baidu Inc (O:BIDU) gains today as it backed off the 210 resistance area but I’ve still got a good sized position remaining.
All in all, things look great for higher prices for now.
Nice stuff from N:SPY as it has a sharp V bottom that is ready to move to the 212.50 resistance level.
We should breakout towards 212.50 Monday at the latest and then I’ll have to reassess the action at 212.50 and decide to either lock in gains in anticipation of another small correction or if all goes well, we will setup to breakout on very high volume and spark the next major rally in this ongoing bull market.
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