Off the Charts

It was a fairly lethargic day in the indices but there was plenty of action in a handful of select names, which has been the theme lately. All major indices finished within 0.1% of the flat line. We could get another quiet session tomorrow ahead of options expiration.

The S&P (SPY) continues to be buyable on each dip. It is showing impressive strength and grinding higher within the ascending channel. As stated before, the higher we melt up, the harder it feels to buy dips with conviction, but there has also been no compelling evidence that a correction is in the works. It has not been profitable to trade with short bias on the mind....460 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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