SPY Levels and Thoughts

I wrote in my Weekend Closing Prints that it is a horrible idea to be buying these levels. And even some below. And it is playing out today.

You don’t buy stocks with the VIX at 10 and geopolitical risks possible from a President tweeter. Everything is overvalued and if you are scaling in now you will be a loser soon.

Here is a chart of the SPY and some levels I am looking at, AS TARGETS, NOT buying spots. 225 will be tested and I am looking to sell that rip. 222 may hold the first couple times. Doubtful.

Everyone who was buying Dow 20K hoping for Dow 30K will not be around to see it.

spy levels.JPG

 

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