The Walls of Resistance

Take a look at the daily SPY chart below, I see three walls of resistance waiting for the bullish price action to tackle.

SPY_Daily

No wonder price action is taking a breather today.

With the debt ceiling crisis looming over us in a couple of months, will the bull has the firework and the will to break through the three walls?

Giving today lackluster price action, I liquidated all my swing trade position and is sitting on 59% cash.

Yes, I’m taking a breather today as well.

My current holding is all position trades (AMRN, LRAD, USU, & EMAN)

Trade well!



Categories: AMRN, EMAN, LRAD, USU

Tags: ,

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