A $SPY Update (No Changes of Note, Just a Couple of Comments)

I didn’t have anything to add yesterday, and I don’t particularly yet today, either, but I hate to go too many days without having something to say, and so I’ll reiterate myself here. I continue to think we’re in the middle of the 3rd waves, and this should be the most powerful thrust of the move. I’d like to see some acceleration here. Today’s gap was a good start, but then we’ve closed it immediately. That’s ok, but it may mean we still have the most powerful move ahead of us. The ideal thing to see is a “gap and go.”

At any rate, I believe our trajectory for the next days will continue to be “up and to the right.”

SPY

I do like the look of the (15-minute) RSI here, confirming the move, suggesting to me that we’re in the 3rd of something (green arrow).

SPY


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