Really hard to play any names this high up. While SPY has formed a rising wedge, it makes it almost impossible to play anything with any conviction without some type of pullback. As traders we don't have crystal balls but I would expect a healthy pullback to 433-436 before making its next leg up. This isn't a signal to short or go long. Just an analysis. Its a time to be patient and wait.
Trade chiuso: obiettivo raggiunto:
it did what it was supposed to do. Test the upper part of the wedge, and reject down to the bottom, and bounce. Textbook play. naturally expect it to run back up from here