Stocks resumed their uptrends and the S&P 500 and NASDAQ pushed to new highs. They remain stretched near extreme levels and therefore have much more downside potential than they have upside potential.
SPY (standard ETF) gapped up Thursday morning and then held steady, gaining 0.59% on the day. It remains positive above $422.30. Investors could continue waiting for a better opportunity, as the upside from here is still very limited.
SH (inverse ETF) fell 0.58% and remains negative below $15.60. Investors could hold if not stopped out or buy when it reaches neutral.
Gold went nowhere on Thursday.
GLD (standard ETF) finished down 0.06% and remains negative below $169.30. Investors could continue to wait for a return to neutral.
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