Play by Play
- SPY didn't get a chance at the gate. The bears was driving the whole time while the bulls ride shotgun. It was a quiet ride downtown.
- At mid-day, I threw in the towel. I said, "This market is not going to recover at any point in the back half."
- Towards the last hour, in my last attempt to appease my inner voice, I made a last play on $MSFT. I placed a credit put spread order when RSI broke 34.85 and closed it minutes before the market ends.
- Consumer Staples (XLP) and Healthcare (XLV) takes the top two spots.
- Financials (XLF) and Consumer Discretionary (XLY) at the bottom.
SPY Weekly Snapshot
- Are we ready for a bounce next week?
- Looking at the weekly chart, I am optimistic--and hoping--that a bounce is eminent. Today's low seems to be bouncing off the horizontal support.
- Or, will the market take another week of red light green light shenanigans?
- I wish you a great weekend. Let's go green next week. Cheers.
Note: Not a recommendation. Please consult an investment professional before making investing decisions.