Have you made any money by buying and holding the SPY since it got into its sideways channel between $105 to $115? Nearly 8 out of 10 months now it has been stuck in this rut. Since volatility is still in a somewhat "normal" range, it is worthwile to take advantage of neutral strategies.
What are you waiting for? The fabulous sideways pattern won't last forever. However, look back in 2004. The SPY remained in a sideways pattern for nearly 11 months. Then, in 2005, it remained in a sideways pattern for 12 months - the same range we're in right now.
One day it will break. The last few months of the year are generally bullish, so for those bulls out there, after a pullback at the end of September, you may get your wish in that the SPY may jump to a higher level. Remember, though, it doesn't matter if the market pops up, or falls down. If you see it moving out of the "zone" it's in, act on it.
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