By: Scott Redler
When you look back, it almost looks too easy, but it never feels that way when it’s happening. The market held my 50% buyable retracement zone of 1068-1072 and bounced all the way back to target resistance of 1096-1102. The question is, what now (besides vacation) I am going on vacation from August 20th to August 28th, but I still have a few days left.
The market has a lot to prove now. Was this an oversold bounce that just retested the broken uptrend, or can we hold higher and put some constructive days together. Either way, this is a very stock specific trade right now. Pick spots and then move on.
I sold the rest of my SPY yesterday and am trading very light now. If you want specific stock comments and price points, take a look at my price point sheet (provided as a free sample today and always available on T3Live.com).
