The SPX jumped 23 points in a powerful exit from the long standing rectangle. (22 trading days). Conservative investors may wait for confirmation — that would be a new high. More aggressive traders will buy the breakout. The trade may be evaluated — or criticized — as being a knee-jerk reaction to news. Excessive volatility will continue.
A stop may be set 5% or 8% under the day’s low as a trading tactic or the long term system stop may be used. 2596. Don’t make our heads hurt with the theoretical reasoning behind this.
We added to our UPRO position.