As you can see in the chart below for SPY the smart scan chart analysis confirms that a strong uptrend is in place and that the market remains positive longer term. A triangle indicates the presence of a very strong trend that is being driven by strong forces and insiders. Ensure to use tight money management techniques to preserve your capital.
Keep an eye on SMC Recordings Inc. (SMCE.PK) for tomorrow. It closed today $1.11 today (Tuesday) and snuck some news out at close. Last time we witnessed this stock double within a day, so it’s likely traders will remember this and jump on the bandwagon again. If this breaks $1.25 in early trading tomorrow this could test $1.50 by mid day. Do remember to take profits along the way, if it jumps too quickly out of the gate watch for a pull back entry.
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