Bullish divergence on SPI. Opened a small position friday for a swing trade. Possibility of a massive megaphone pattern and SPI is currently sitting on major support @ the bottom of possible megaphone... upside could be dumb on news, sector strength, and market confidence and strength. SPY gonna need a pull back soon, but i could see a bit more upside next week, especially with stimulus talk positivity, and further FED backing and more buying of bonds and debt... GOOD for the market, BAD for the dollar.... but I do like SPI for a lil move to the upside near term.
#stocksNoptions
#stocksNoptions