**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.**
“Courage is the first of human qualities because it is the quality which guarantees all others.” – Winston Churchill
We got was expected, again, from the Fed with a 0.25% rate hike today and that should be positive for stocks going forward.
Expect a slow rate rise as they judge how the economy is reacting to this first rise in rates in 9 years.
I didn’t do any trading today and can’t be sure when I will but I’ve got a few setups ready to go higher now and more are close to setting up so we may get a little Santa rally now that is sustainable.
I still do not see this bull market as being over so we should finally see the S&P move into new record highs, likely before 2015 is out.
Great stuff and we finally got a rate hike out of the way so markets should now be free to run.
Have a great night and get your buying caps on!!