- SPY bounced off near trendline support this morning. All indicators are still in bullish territory, except for Volatility Signal. However, all indicators are a little "off" because of 0.60 ex-dividend on 9/17. Nevertheless, it is only natural that SPY cannot continue its torrid pace of ascent.
- Therefore, I'd suggest moving profit stop up to 113.18 and 111.8. If SPY is to continue rising, I'd have to think financials and other laggards would have to start rising.
- FVE is 18.8 and implied volatility on SPY is 20. I'd be neutral vol at this moment because the probability of a price correction is getting higher.
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