**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.**
“If you can’t outplay them, outwork them.” ~Ben Hogan
Friday was pretty quiet after a strong Wednesday and Thursday and that is good but we’ve got higher to go and there shouldn’t be much more rest before we do.
Things are once again all clear for buying but the big question remains of will breakouts be sharp and short as they have been or will they be more sustainable allowing us to hold winners for some time and much larger gains.
Earnings season does kick off Monday as well and that will bring lots of volatility and opportunity for us but we’ve all got be be paying very close attention.
There is some resistance at 207.50 still but this consolidation should be enough to power us past there and once again into new all-time highs.
Good stuff that is starting our 2015 off well.
Enjoy your evening and the great6 football game.