Take a look at the daily SPY chart below, I see three walls of resistance waiting for the bullish price action to tackle.
No wonder price action is taking a breather today.
With the debt ceiling crisis looming over us in a couple of months, will the bull has the firework and the will to break through the three walls?
Giving today lackluster price action, I liquidated all my swing trade position and is sitting on 59% cash.
Yes, I’m taking a breather today as well.
My current holding is all position trades (AMRN, LRAD, USU, & EMAN)