CosmicDust

SPY update - 08/20/2014

AMEX:SPY   SPDR S&P 500
spy
SPY             closed strong today. The weekly chart is turning bullish ( MACD still needs to catch up, but on right direction). This seems to suggest the rally has not done yet. If this week can close at a all time high, this rally may last through September, or even further.

Of course the market can turn at any moment, given this strong technical background, flexibility is still needed. Friday is a big day for the market, remember Janet said before inflation is a noise, and the overall market is not overvalued, and I do not think she will walk away from those assertions. Good luck!
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