Backing Off Highs

**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.**

“I want to be all used up when I die.”  George Bernard Shaw

A bit of a quiet Friday as we are near new highs.

I really am not expecting a super breakout on massive volume with summer now upon us but I’ve been wrong before.

SPY June 22, 2015SPY is backing away from highs and is likely to chop around for a couple weeks between the 212 and 208 or so areas.

It’s summer so enjoy some nice days away from stocks while they setup for a great move most likely starting in the fall.

Have a great end to the weekend.

Warren

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