Leading Stocks Acting Poorly

**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.**

“There is only one success — to be able to spend your life in your own way.”  CHRISTOPHER MORLEY

We’re still holding into the breakout level in the SPY and that is great but leading stocks just aren’t performing up to snuff.

IWM was quite weak today, as risk remains off, and that isn’t so great.

I do like to see all 3 US major markets moving higher together but I can’t always get what I want.

SPY November 20, 2014SPY is holding the breakout area still so there isn’t much to do other than be long although many traders really, really do want a correction right now.

Seeing leading stocks weak is worrying and we may well now see this breakout fail and that will have me raising cash.

Enjoy the evening.

Warren

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