Those were the last words in my 9 am, ET Inner Circle Morning Market Outlook this morning (April 14, 2021).
Then SPY spiked to a record high of just under 414, only to tank late afternoon losing several points. The worst of it may not be over, although we may see a blip here and there.
How did I come to believe this stock would unravel like this? There are certainly plenty of reasons for SPY to rise… lots of stimulus money entering the market, the start of the spring earnings season, major banks reporting stunning gains, millions of vaccines to fight COVID-19… it’s all there.. except one key indicator.
Not to jump the gun, we will discuss this on our Inner Circle Weekly Meetup Thursday night at 9 pm, ET…. see you then!
Head Trader Hugh Grossman at DayTradeSPY.com