2/17/2019 Stocks continue upwards move. Stocks approaching a big breakout location (bullish breakout). I’m neutral now instead of being bearish.

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The last few weeks I’ve been quite bearish, but quite the opposite has happened.  We are now approaching all-time highs, so I’m now neutral and don’t know which direction we will go. 

SPY weekly 2_17_2019

Above are some levels to watch for in the weekly chart of SPY. 280-290 is the resistance zone where most people are looking to sell, and the major support level is near 250 which was 2018 February lows. 

I’m neutral now, and my prediction is that we stay within the 250 to 280 zone for a while. In otherwords, I think we move sideways and stay rangebound. 

See you next week!

Published by bigfry

Hi, I’m Nathan. I majored in Finance and minored in Piano Performance at Boston University (graduated in 2020). Outside of trading/investing, I enjoy teaching and playing piano, teaching and playing Go, fishing, and watching anime. I also started my own Boba company while at BU, and am currently working on a company with my twin brother. I'm currently teaching Go full time, which has been the best job I could ever hope for.

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