09 March 2021

March 2021 Opportunity?

"Opportunity is missed by most people because it is dressed in overalls."
Thomas Edison
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US equity markets continue to exhibit historic volatility.  It can be nerve-wracking to think of engaging when setups continuously elect stop-loss orders.  

However, that's exactly when you should be most watchful for an opportunity.

Here's a look at the S&P 500 Index ETF weekly and daily charts.

SPY Weekly


SPY Daily


While the weekly SPY chart shows that the uptrend is fairly extended, the daily chart shows that price has pulled back a bit which is historically the best type of trade setup to take on a risk-adjusted basis.  The best way to think of failed trade setups in this scenario is to consider losing trades a part of the cost of getting into a good trade.

I also updated the F.A.A.N.G.M. charts here

Hope it helps.

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