Morning Thoughts August 17

  • We’ve been long SPY bucket 2 for almost two weeks now and will take full profits at the open today.  Not so much because we don’t think the market could rise more but because we’ve talked about the 1415 – 1420 area on the S&P 500 for several weeks now as our price target.
  • Also see the Spain stock index below…slowly but surely coming into potential resistance.  See it just for reference.

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