What in the $SPY

17 Kas 2014

Looking at this chart, many would say "he just put a simple moving average and BB on there, but it offers much more. The 5 day MA has been a fan of mine because of ease its to interpret. Simple put, I look for price to close above the 5 day if that is met I know being long is okay. (same for short). The 5 MA also tells us one thing, short term trend, which at this point looks to be getting flat. I know I could draw 100 trend lines and make this chart look pretty, but it's not needed.That being said, I'll look to take a position in SPXU if spy closes bellow the 5 day MA, my stop is simple a close above the 5 day MA. Remember keep it simple, and follow a plan.