**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.**
“Money can’t buy you happiness but it does bring you a more pleasant form of misery.” Spike Milligan
Another day, another gap and today’s gap lower was just the start of what was a very weak day.
Now, we are oversold so some consolidation would be best.
We are still on track to put a nice low in by mid-October or so and then we can pile into the right stocks and more importantly, the right stocks at the right time.
It’s been a while without any real trades but it’s soon to pay off.
That said, I did short a bit today in ADXS at 12.40 and CSGP at 170 and I did hold some overnight in small size.
Enjoy your evening.