**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.**
“Shoot for the moon. Even if you miss, you’ll land among the stars.” Les Brown
Markets were weak to begin and filled a recent gap before turning higher.
The triangle pattern is getting tighter and tighter and more and more stocks are completing bases so things are starting to shape up finally.
I did some buying today for the first time in a couple weeks in selected stocks and I have pretty tight stops in place.
Let’s see if patience will pay but I’m not heavy into stocks by any means, rather, getting a feel for things since I may be able to get heavier in the near future.
I did buy 10% into SPY at 210.44 with stops at 210 for now so let’s see how that goes.
Have a great evening and go HABS!!!