Be very cautious this week with the tech sector! We're doing a bit of sector rotation as you can see financials and travel stocks getting bought up. As you can see Spy is above the 50MA , which is a good sign. However I feel like the rest of the week will be flat. If we are not able to hold 388 or breakout, we can head back down to 385. Be aware of the gap down at 377, which we were so close to filling today. My position is CASH!!
Legal disclaimer: I am not a financial advisor. The advice here given is not a financial advice and please consult your financial advisor". Trade at your own risk and nobody can guarantee you results. Even if someone could, I don't.
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Spy went down to 385 as mentioned last night, held that level and reversed. Now we're back in the channel. With stimulus package in the works, we could see $400+ on spy real soon :-) Trade safe everyone :-)
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The GME frenzy is back again... this could be bad for the tech sector... GME frenzy is sucking the life out of tech :-(