$SPY Moves Higher as Long Bias Holds Firm

PeterDiCarlo

04-15 10:28

$SPDR S&P 500 ETF Trust(SPY)$ is ripping right through that smart money zone.

In the article I said I didn’t trust this move and was cautious, but I also said we weren’t buying puts.

The fund stayed fully long. We stuck to the system.

Monthly BX is increasing again.

That is constructive, but we need to wait until the end of April to confirm the next 6–12 month bull cycle.

This is why we follow the plan and keep trading long, even while staying objective about potential sell offs.

We didn’t short. We didn’t overreact. Now we are being rewarded for that discipline.

I’m hoping this was the bottom, but hope is not a plan. We will see how the month closes.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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