Bounce Still Looks Intact

**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.**

“The main thing is to keep the main thing the main thing.”  Steven Covey

I will be away this weekend and not back until Monday so there will not be a weekend letter, nor a Monday evening letter.

Markets didn’t do much today but the bounce still should have a bit more left in it.

I’m still not seeing many great setups as the summer chop continues.

I’m taking a long weekend to enjoy some great company and music.

SPY August 14, 2015SPY held 208 where my stops are but can’t yet best the moving average cluster at 209.

I’d like to sell at 211 but stops are in place.

I’ve got 10% from 206.

For you non-subscribers (and I don’t know why you all don’t give me a try!), that means 10% of my 100%, but, using full margin I can use 200% so it’s really a 5% weighting.

Have a great weekend.

Warren

One thought on “Bounce Still Looks Intact

Leave a Reply

Your email address will not be published.