**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.**
“Cherish your visions and your dreams as they are the children of your soul; the blueprints of your ultimate achievements.” Napoleon Hill
A very slow or dull day as they say, but ‘they’ sure aren’t always right, but they do say never short a dull market.
Volume pushing anything lower was very low and I wasn’t keen on selling much today, rather, holding and trying to let stocks work before we may see the usual end of week strength emerge.
I’d rather have seen the indexes close stronger, and they looked as they may before reversing back to close on lows.
It’s never great to close on lows but there is no conviction to this weakness at all yet.
That can change and I’ll be on it if need be.
This is quite positive.
When volume really dries up like this it tells me there just aren’t any sellers and the next move should be strongly higher.
I’d rather have seen SPY hold above 210 for sure but the chart is still quite positive.
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Have a nice evening.