Locking In A Gain On SPY
Back on May 15th, we recommended to buy shares in SPY. It was trading at $529.02. We thought it could go to $540 and this morning is at $542.00 which is up $12.98 or 2.50%. We note the 6 Day RSI is overbought at 84.
As such, we will lock in the gain on SPY and lock to reload after we get a pullback. More on this later.