Trading with the trend is a very big part of my strategy so its always wise to take a look at how the weekly charts are.
Prices have corrected last week giving back the gains from the week before. Our reverse head and shoulders are still valid, support is at 134 on the SPY and 130 next for the SPY.
I still favor a market where the trend is up. As such I will hold on to majority of my stocks.
Kyith is the Owner and Sole Writer behind Investment Moats. Readers tune in to Investment Moats to learn and build stronger, firmer wealth foundations, how to have a Passive investment strategy, know more about investing in REITs and the nuts and bolts of Active Investing.
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Kyith worked as an IT operations engineer from 2004 to 2019. Currently, he works as a Senior Solutions Specialist in Fee-only Wealth Advisory firm Providend. All opinions on Investment Moats are his own and does not represent the views of Providend.
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