If you had told me three months ago that we'd be this close to SPY 500 by this time this year, I'd have laughed you off and probably ignored anything else you had to say. I've mentioned this a few times in my recent briefings, but this rally has been a huge lesson in humility for me. I didn't position for it at all and missed a lot of opportunities by devoting most of my capital to these longer term swings. I'm still confident that I'll be able to make it out of these trades with measly profit, but nothing compared to the opportunity that I've watched slowly pass me by. Nonetheless, I've learned that trading has very little to do with looking at the opportunities you missed, and a lot more to do with analyzing the trades you DID take, reflecting on them, and then tuning your strategy so as to not be sucked into a bad trade in the future.
Since we're still marching higher, I'll continue trading the daily ranges until something breaks. We have 494.35 as the closest resistance (where we closed on Friday), followed by 496 if we break above/gap up. Then 491.62 support, followed by 488.56. Trading the range can be very lucrative and I'm remembering how much less stressful it is when you're trading the chart, not a narrative. Something to think about as we go into tomorrow.
As always, good luck to all. I truly hope the best for everyone moving into tomorrow.