**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.**
“Do not follow where the path may lead. Go, instead, where there is no path and leave a trail.” Ralph Waldo Emerson
A much better day than we’ve seen in weeks but still, many stocks are not really setup to move, that said, I did do some buying today.
I will not be giving stocks much room to work unless markets continue to move higher well so tight stops are key.
We’ve seen these moves tend to not last long and with summer here I have to expect the same so stops are tight and I’m not at all heavy into stocks just yet.
Enjoy your Friday and weekend.