Close, but no cigar

Take a look at the SPY daily chart below.

SPY_Daily

It has broken out of the symmetrical triangle to the upside but it could not maintain the upper price level.  Now, it looks like it will close inside the triangle.

If tomorrow fails to break out again and stay above; we may have a consolidation period inside the triangle.

Currently holding LRAD, AMRN, USU, PACB,  SZYM, GLOG, DCTH, CUR, GLUU and 39% cash.

Trade well!



Categories: SPY

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: