SPY SPX Update
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SPY SPX Update
Ref close near 381 is the important marker today. Typically after a down Monday, we should be putting ourselves in a bullish stance for Tuesday.
Down Monday stats above. We have T-statistic of over 3.0 which is highly significant. We are close to 60% odds for Tuesday trading higher. I think the best risk-reward is near 381 on SPY to get and risk to 380. Use stops today.
The fact that the bonds were up yesterday on Equity market weakness puts the cards very much in favor of the bulls.
For now I still think growth will outperform so I still have the same position as I have for weeks: long risk growth, long bonds.