**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 not us, who? If not now, when?” – John F. Kennedy
What a strong Friday, at least in the indexes.
Indexes do looks strong withe SPY ETF showing a nice reversal higher bar, but the futures are not showing quite the same strength.
The more I looked at stocks this weekend the less convinced I am that a low is in place as well.
I think this correction will last a week or so but Monday will tell that tale for sure.
If we get more strength, then I’ll be looking to get back into stocks, if not, I will look to short some stocks.
I’d prefer to see SPY move back above 210 before considering this a non-correction so let’s see how Monday plays out.
Have a wonderful weekend.