Playing the Percentages - $SPY

January effect is in...What's it telling us?

January is in the books.

SPY 0.00%↑ appears setup, breaching both the Jan ‘22 downtrend line and about 2% above a flat 200 day. I’m watching $410 in the short term. 30%-ish from here would take SPY 0.00%↑ to new all-time highs, an aggressive hurdle. I’m allocating more heavily to individual this name versus the broad market, but SPY 0.00%↑ above $400 is a bullish sign.