Mid-Day Update
Mon, Apr 26, 2010 | Frank
SPY tested our trade-entry price range this morning, but sellers repeatedly came in between $122 to $122.10, decisively rejecting those levels. At this point I still think there’s a good chance that the market will hit a new high before any major pullback—but we base our trading decisions on what the market actually does, not our expectations.
I’ll be watching closely throughout the afternoon for a more definitive trade signal and send out a trade alert accordingly.
Leave a Reply