Is the SPY running out of gas?
Is the SPY running out of gas? Stocks have been much weaker than the overall market this week. This is usually a tell-tale sign for lower prices to come in the near future. While the market has been on an incredible run since the $182 double bottom, it seems there may be a further pullback looming. We are in no way calling a top or saying there's a major correction coming, we are looking at the price action across the board and noticing the overall weakness. For all we know, this could be further digestion of this grandiose move off lows, setting us up for all time highs. We're not saying that either. We don't believe anything is out of question. It is important to note that many traders have been cutting down on their long risk this week and even getting short. The most important part about trading is risk management. It's the name of the game.