**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.**
“Failure is not fatal, but failure to change might be.” John Wooden
Another weak day for markets and stocks whose charts are showing sever damage now.
That said, we are very oversold and I covered all my shorts near the end of the day today for some solid gains all in all and I almost went long some SPY calls but I did not see the action I wanted in order for me to take that trade.
It may be a do nothing kind of day Wednesday but time will tell, not me.
I am long in very small size a couple smaller stocks that I’ll touch on later for subscribers.
I just want to mention one last time that tonight is the last chance you’ll have to join this 3 month term of my real-time trading.
It’s only $100 a month and it does include this nightly full letter.
Please subscribe here http://wizzentrading.com and see just how quickly you will pay for this service and then much more.
I may take a trade tomorrow or I may not.
It is really hard to say much in this type of market since there are no good setups on the long or short-side yet so only real-time members can get my thoughts throughout the day as setups may develop.
Careful out there!
I’m playing in small size only, if at all.