Christmas Eve has turned out to be the low so far. The buy signal for SPY and SSO was given at the low on Christmas Eve — a spot on call. Now there is about 22% gain on SSO over a short time. The market is approaching resistance. Please also see the Morning Capsule about semiconductor sales, this is a big negative. Consider taking profits and exiting the position.
Here are the profit taking zones.
S&P 500 ETF (SPY)
$259.40 to $264.57, SPY is trading at $260.15 as of this writing in the pre-market.