**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.**
“Based on my own personal experience – both as an investor in recent years and an expert witness in years past – rarely do more than three or four variables really count.
Everything else is noise.” Martin Whitman
A weaker start to the week than I was looking for but a very positive one, if we can move higher Tuesday.
I had to check out of my MDLZ position but I picked up some LNKD and UTHR and I remain heavy into stocks.
Let’s take a look at the SPY chart and see why I’m so positive after todays weak action.
Trading is not easy and holding positions is harder.
Markets try to shake out as many people as possible and did a great job of that today.
We remain in a bull market and I am trading with that perspective by basing my trading on a closing price when possible, and buying the dips.
Have a wonderful night.