Still Just Chop

**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.**

“When we recall the past, we usually find that it is the simplest things – not the great occasions – that in retrospect give off the greatest glow of happiness.”  Bob Hope

There really hasn’t been much to say this week so I’ve taken a couple evenings away from homework.

I was just watching mostly choppy action and expected it until the Fed speak this afternoon which saw no news in the release and markets liked it thus far.

There still aren’t many great setups out there but my one position, DATA, continues to hold well enough.

I have no issue sitting and waiting for the right setups to come, especially if the weather is nice.

SPY June 18. 2015SPY moved higher on the no news event from the Fed but is still stuck so I wait.

Until I see a move above 212 or below 209 then it’s best to do nothing, or some small day-trading if you can.

Enjoy the nice weather while it’s here while markets remain quiet.

Have a nice night.

Warren

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