SPY Hits All-Time High – Here’s What Happened TodayBy Barrie Einarson

SPY Hits All-Time High – Here’s What Happened TodayBy Barrie Einarson

Oct 9, 2024

Hey everyone, Barrie here with a quick update on an incredible day for the SPY! Now, I usually dig into specific trades, but today, I just had to talk about what went down with the SPY. We haven’t seen this kind of movement in quite a while.To Subscribe: https://go.trade-ideas.com/SHQ
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So, what happened? Well, the SPY took off right out of the gate, moving straight up for about two and a half hours. At noon, we saw the first little pullback, but by that point, it was already a massive run. Honestly, this could be an all-time high for the SPY—it’s the kind of momentum we, as traders, live for.

It reminds me of an old saying: only a few days each month really offer those big opportunities to make serious gains. Today was one of those days. If you were looking to go long on just about anything, odds are you were on the right side of the trade. The entire market seemed to be moving up with SPY, making it one of those days where nearly every position in that direction was in profit.

These are the moments that remind us why we stay plugged into the market. Not every day is like this, but when it is, you’ve got to be ready to take advantage. For those of you who caught the action, congrats on the gains! And if you missed it, remember that patience pays off—days like this will come again.

Catch you all tomorrow back in the room!