Nothing To Do

**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.**

“All the breaks you need in life wait within your imagination; Imagination is the workshop of your mind, capable of turning mind energy into accomplishment and wealth.”  Napoleon Hill

Markets were strong Friday but they opened up with another huge gap and then didn’t go much higher the rest of the day.

This is still a total avoid in my view so I am not looking to do anything yet.

I can day-trade all winter long but I can’t enjoy the sunshine.

SPY July 13, 2015SPY is stuck between 204 at the 200 day average on the downside and 208 resistance on the upside.

205 and 207 area also key areas to watch the action since they have acted as support and resistance areas as well.

This is poor action and does point to lower prices but who knows what Greece and China will say this weekend.

All in all, trading now is a roll of the dice so I won’t.

Have a stellar weekend.

Warren

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