**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 healthiest response to life is joy.” Deepak Chopra
A very weak Friday but my one positions, DATA, is holding up well and I can’t say that about many stocks right now.
I’m seeing lots of failed breakouts or short-lived moves so that really isn’t an environment I like to trade in.
Staying whole while we wait for great setups is key so enjoy the sun while markets build charts.
I’m just not at all interested here and sitting in almost all cash.
SPY looks like it wants to move lower to test the 100 day average again and then we see how that goes.
On the flip-side, if we move above 212, that would be very positive.
Take some time off and wait for the easy trade to come to you.
Have a great weekend.