**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.**
“Don’t worry about failures, worry about the chances you miss when you don’t even try.” – Jack Canfield
A decent start to the day but I almost always let things settle out for at least half hour and that half hour showed the strength was false.
Tomorrow we have a quad witching day so I can’t see me doing anything.
I’m still all cash and watching and waiting for the buys to setup but volume will really taper off next week with many traders taking off until after the New Year so we just have to play it by ear.
We may get a couple weeks off or with limited trading.
It may take a couple weeks to digest this rate hike.
So, for now, above 210 is good while under 205 is bad.
Have a wonderful evening, Friday and weekend.