Removing the y axis is easy, but it also removes the x axis. A couple of options:
1) Ease of use plot.zoo:
plot.zoo(Cl(SPY), yaxt="n", ylab="")
2) Heavier - take pieces from plot.xts:
plot(Cl(SPY), axes=FALSE)
axis(1, at=xy.coords(.index(SPY), SPY[, 1])$x[axTicksByTime(SPY)],
label=names(axTicksByTime(SPY)), mgp = c(3, 2, 0))
3) Customize-ish - modify plot.xts, therefore it axes=accepts a vector of axes for construction and / or TRUE/ FALSE.
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