Great Action Before The Breakout

**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.**

”If all the economists were laid end to end, they’d never reach a conclusion.”  George Bernard Shaw

A bit of a quiet day today with markets not doing all that much and stocks were mixed.

Everyday can’t be strong but the action remains very good.

I’m heavy into stocks and into margin but I may be selling a couple positions that just aren’t working as well as the others soon but ideally, I’d love to hold over the winter in any strong positions I’ve got on.

SPY October 30, 2015SPY is near 210 and consolidating which is great to build up some strength for a breakout above 210 and then back into new high ground, something we haven’t seen since May, so it has indeed been a sell in May type of  year as I talked about at that time.

We didn’t do much in the choppy summer months and I closed down the real-time trading group since I don’t like to see people paying me when there is no need but it is open again now since stocks are moving and you can find out more at http://wizzentrading.com/?page_id=5614

Enjoy your evening.

Warren

Leave a Reply

Your email address will not be published.