REASONING FOR ADDING LONG EXPOSURE TODAY
Past mid-day today, I updated Twitter saying I was adding to long exposure via broad market ETFs. I have said numerous times over the past couple of weeks that I highly doubt we will test the June lows. We got close enough to those lows today in the S&P that I thought the risk/reward warranted adding some long exposure.
Let's look at a chart with commentary on the SPY below:
click chart to enlarge
SPY
