SPY Most Recent Pivot Low $435

As the market climbs to new highs

It does so on a wall of worry

The market has to crash! Are common thoughts when usually the opposite is what tends to follow

With that being said for those that are nervous a simple approach to limit your downside can be by trailing your position by the recent pivot low

Now you will at some point get shaken out and more often watch the market drift higher but for those that are nervous it can help one sleep better at night with some type of plan

There is another major pivot low at SPY $420

And a much more significant one at the psychological level of $400 as the 200 day catches up to that area (good sign)

For now one could expect the market to continue in this grind up as the market works towards the next major psychological level of 500

That might seem far off yet its only a 10% move from where we are currently.