**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.**
“Happiness is a state of activity.” Aristotle
A pretty calm day Tuesday, and Monday was as well, so with me in cash and not interested in trading Monday, I took the evening off.
I’m seeing some sign of a low being in now as the SPY held and bounced off the 100 day average.
Many charts will need some time but we may well see some trade-able bounces soon.
This Doji does needs a higher close tomorrow to confirm it but there may be some bounce plays develop soon.
I am not looking for deep correction since that has not been the pattern but I’m glad to have locked in gains last week.
Have a great night and enjoy being in case, if you are.