SPY Updated

Frankly, the more unwieldy this hyper frenetic market gets, the less inclination I have to do NFTRH+ updates, because the volatility has a funny way of breaking charts (with associated mixed results for +). We are not participating in a stable market my friends.

But insofar as a low risk setup comes along, so be it.  Hence the SPY update that noted 206 as a very clear point to go short and above it a very clear place to limit risk.

spy

Yesterday’s bounce and short was almost too textbook, which actually made me suspect it in this market.  So far the trade is working well.  I used SPXS as my vehicle, to get some leverage.  The target is 200 (SPY) but individuals should determine their ‘cover’ point based on their own needs now that it is profitable.

Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com.