DailyPlay Updates – July 5, 2023

Investment Rationale

With equities opening up lower on the back of weak industrial data out of China and a light week of volume, we are taking a pause from adding any additional positions in our DailyPlay portfolio. At the moment the $444 resistance level on SPY is holding alongside the major resistance levels are the ones we are paying attention to this week. A close below those levels suggests the rally momentum is waning and starting to show signs of exhaustion. 

SPY – Daily