Sideways Still

The trend continues for $SPY

The sideways trend for SPY 0.00%↑ continues. Flat 50 and 200 day moving averages. This remains an individual stock selection kind of market, and while the macro backdrop suggests this might resolve downward, there isn’t much in price to suggest placing a bet on such. I’m personally looking at a break and hold of $415 on SPY 0.00%↑ in order to be constructively long. With earnings set to kick off this week, and banks being the notables to start, perhaps we finally get some more resolute movement in SPY 0.00%↑ one way or another.

Happy Easter.