I will note that SPY, tracking the S&P 500, has taken back all but one of the four days of rising peak prices that produced breathless "new all-time high" headlines for the past few trading days. The market gives, the market takes away.
|SPY 10 years weekly bars (left), 16 days daily bars (right)|
My trading rules can be read here. And the classic Turtle Trading rules on which my rules are based can be read here.
Tim Bovee, Private Trader tracks the analysis and trades of a private trader for his own accounts. Nothing in this blog constitutes a recommendation to buy or sell stocks, options or any other financial instrument. The only purpose of this blog is to provide education and entertainment.
No trader is ever 100 percent successful in his or her trades. Trading in the stock and option markets is risky and uncertain. Each trader must make trading decision decisions for his or her own account, and take responsibility for the consequences.