**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas on the right to see the rest of this letter.**
Mixed action today with only select stocks really moving while most acted pretty choppy.
It is not the easiest market to make money in but we’re getting by.
Markets on the other hand look strong though so mixed action it is.
Cautious optimism is how I’m approaching things today.
I’m not buying super heavy position sizes but medium to medium heavy weightings for now and I’m not shy about booking losses quickly if need be.
As I said, I’m cautiously optimistic here and buying on the long side but I’m ready to exit quickly if need be.
Enjoy the evening, Friday and weekend.