**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.**
“Experience is simply the name we give our mistakes.” Oscar Wilde
Friday was pretty quiet for the most part but stocks are still doing well if you’re in the right ones as I am but many are now setting up super charts.
I’ve been pretty patient, playing small, and doing very well but waiting for the charts to be just right can make our returns amazing and we are close to those types of setups now.
If you’re not a member to my real-time trading group, this may be the time.
It’s only $250 and that will take you into mid-June and you’ll be alerted of any trade I may via email, twitter and text message.
If stocks begin to really work as they appear, that $250 will be a pittance of you profits over the next 6 to 8 weeks.
Everyday that passes is telling me we are closer to a big breakout on heavy volume above the 212 area but that can change.
So far so good so let’s just see how the next few days play out.
This is one of the best times of year on a seasonality basis but that is just a game of averages.
I hope you had a wonderful weekend.