MarWk2 - The performance of the SPY yesterday was interesting as it has in a strange manner, climbed higher yet again. The Kijun Sen and Tenkan Sen are still moving closely together in tandem. To me, it is still a bullish market, simply because there is no clear indication that the trend is reversing as yet.
Perhaps some folks might say that this is an uncertain market since it looks as if we are on the verge of a potential reversal signal coming soon. However, with the way the market is moving upwards, it won't be for long before the Tenkan Sen breaks away from the Kijun Sen for a higher climb upwards.
Does that mean we will start to see something phenomenal as a breaking of the all time high of 2007? It's already very near. :) I remember that time, every stock that I bought, shot up to the sky. That was also the time when it all suddenly came tumbling down. :(
Well, the good thing is my trade last week for SPY $154.5/155.5 for a premium of $0.04 was safe! The option expired worthless and I couldn't be more happy with that. Let's see what happens this week. It looks like the market is indeed searching for the higher high. :) Maybe there is a selling opportunity tonight. :)
No comments:
Post a Comment