Last week was the official introduction to Summer trading where volume is extra light. Heading into the last week of the quarter, I am expecting much of what we saw last week with the action late in the week suggesting we may be due for a slight pullback as the market doesn't seem to be able to hold onto its pivots. The SPY $273.50 area is the first support level to watch. As I mentioned last week I will be light with anything I do buy, knowing my best trades of the quarter are behind me and we have an earnings season to look forward to in a few weeks.
This is not the time to be going max risk into anything.