**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.**
“The difficulties of life are intended to make us better, not bitter.” – Unknown
First off, my apologies for missing a couple updates.
I’d planned to go skiing for a couple days to get away and relax and get my letter out
Monday after my return but the storm ended up being one for the record books.
I ended up stormed into my hotel for 3 nights and the ski hill didn’t even open until Tuesday and I did take advantage of it and the abundance of fresh snow.
The roads and bridge back to the island were closed until Tuesday and by the time I did get back my road still hadn’t been ploughed and wasn’t until this afternoon which left me parking my truck a ways away and trudging through the deep snow with an already tired body from skiing all day.
Anyhow, I’m back, ploughed out and the truck is just now home once again so all is back to normal.
Markets and stocks are acting good and looking for higher still even though they are a bit overbought for the moment, but not too overbought, which leaves room for a normal move higher and of course anything can rock higher for some time and leave any indicators in the dust and useless.
It is a very good sign and new highs is the buy point at 210.33.
Really nice action that points to higher prices now and I’ll talk to full subscribers about this very special pattern in the next chart.
I’m still not super heavy into stocks but may be by weeks end.
Have a great night.