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Yesterday, the market finally gave us that broad-based participation one would hope for when talking about a healthy bull rally. Even a sector we were slightly bearish on turned around today and joined in on the fun, energy.
This is a good sign for the bulls as it lends credence to the bull market being slightly more sustainable than if tech was the only green spot in the market. When looking for long trades to put on, however, tech is still leading the pack. For today, we decided to focus in on one of the most traded ETFs on the market and one every trader should learn how to trade.
SPDR S&P 500 ETF Trust (SPY)
If you’re bullish, there is hardly a simpler way to go long the market than playing SPY this ETF is basically a market weathervane with all the holdings in the index. Moreover, learning to trade this ETF effectively is one of the best ways to hone your trading if you have been trading for quite some time and if you’re a beginner, it will help you lay a good foundation on how to find support and resistance levels.
This ETF is one of the most widely traded tickers on the market, providing excellent liquidity for those looking to get in and out of trades quickly, but is also a great option for those of us that look for swing trades.
If you see a larger bull market continuing from here, this is a great way to play that. With a wider net, you don’t have to pick the right stock to win the race since this ETF…
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