The market is waiting for some resolution in Washington, as per every talking head in the business. I would tend to agree. Sitting on my hands waiting for a resolution as well. Keep an eye on MELI, IWM, and TAN. Those look ready to move. Check in tomorrow.
Will be back Monday September 30th.
The SPY did what was expected and found some footing for a bounce, but the rejection of that move shows little conviction, which is required for a rally to the upper trendline. See if you agree.
But on the weekly, the SPY still has room to fall. AAPL is the big winner today.
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Sold more stock and ETF holdings today into the FED will not taper frenzy of market strength.
About 80% cash as I head into vacation until Monday Sept 23rd.
Check back then.
News from the Fed will move the market tomorrow. I raised more cash today.
The SPY had a monster gap today. I think we have more room to run.
PKG was a fortunate holding, but I took profits on it pre-market. It looks like higher prices are in store for that stock. .
Some excellent charts for your consideration: