SPY has broken through its resistance of its previous high back on 2/18/11. Although there is a chance it could be a head fake, this is a promising development for the bulls.
I added to my long position a couple of days back and will wait for a small pullback to add more to my longs. This market wants to go higher. My SPY trading system remains unchanged as exit on long; but I wanted to acknowledge the new high as a bullish signal.
Rahulda,
ReplyDeleteI have emailed you, let me know if you got it.
thanks