**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.**
“Many of life’s failures are experienced by people who did not realize how close they were to success when they gave up.”
In the end, there wasn’t much to say about this quiet holiday Monday
We saw some weakness early but then we crept back higher to see the S&P finish down only 2 points for the day.
There aren’t a lot of setups I’m seeing and I do expect to remain mostly in cash until next week when traders and volume return to the markets.
I say it all the time, I work hard when markets and stocks tell me to but when they tell me to relax, I do as well.
Patience does pay and there is no need at all to trade every day.
A caveat though for any stocks looking good, markets must also be acting strong or breakouts are likely to fail so use tight stops for now.
Enjoy your evening.