**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.**
“Speak less than you know; have more than you show.” William Shakespeare
Another strong day for SPY but most stocks aren’t doing anything so I’m still in cash waiting until we see some better setups, likely in the new year.
Looks like 207.50 is resistance and we may trade in the 207.50 to 200 range through the holidays so it should be able to be traded quiet easily, if you so choose.
Leading stocks really aren’t doing much these days so I’m in no rush either.
Have a wonderful weekend and Merry Christmas.