This post was just published on ZYX Short Change Alert.
SPY is getting very overbought and sequestration is ahead. After the new month money gets fully invested, there may be a down turn. However caution is needed because the momentum to the upside is very strong. It is best to build the position slowly and cautiously.
What To Do Now?
Those in SPY may consider adding a 5% tranche in the zone of $151.15 to $151.50. SPY is trading at $151.17 as of this writing.
Those not in the trade may consider initiating a 15% tranche right here in the zone of $151.15 to $151.50. SPY is trading at $151.17 as of this writing.
