Cash Remains Best

**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.**

“Fall seven times. Stand up eight.”  Japanese Proverb

Markets showed weakness today and broke below their recent ranges which were set to push them higher so that means lower we go.

Basically, the summer continues to roll on and chop perfectly as I’ve been talking about for about 6 weeks and I’d love to see this run into the fall.

Enjoy the summer because we should have some major action later on.

SPY August 7, 2015SPY is holding 208 support for now but if that fails then we should test the 200 day average.

Cash remains my position of choice, and sunshine my poison.

Have a great summer evening.

Warren

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