Weakness Can’t Get Traction

**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.**

“Easiest way to earn money in stock Market.  Ask a layman to trade, Sell whatever he buys, Buy whatever he sells.”  Hrishikesh SenGupta

Markets started off weak but they couldn’t gain any traction to the downside as usual.

It seems everyone is trying to press on the downside but it just isn’t working.

Sure, a small correction would be great and fine but if it isn’t to be it isn’t to be.

This tells me, there is a ton of money sitting on the sidelines and it just needs an excuse to be put to work.

We could be on the cusp of a major and rapid move higher.

I’m ready and pretty well positioned already and have a few more on my shopping list.

SPY November 21, 2014SPY is fine and just setting up another bull flag type of pattern although the pole is nonexistent.

Still though, it looks good and ready for higher prices.

A break above 206 is the next buy point.

Enjoy your night and consider subscribing to my nightly Daily Trade Ideas to make them your own!


Leave a Reply

Your email address will not be published.