**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.**
“I am not a product of my circumstances. I am a product of my decisions.” – Stephen Covey
It was strange to wake up to no large gap this am for once but it was a good sign and stocks acted well today and are still telling me we have more of a bounce to come.
I bought a few more positions today like LNKD FB and ABBV so let’s see how they go.
All we can do is see how things are looking in the morning.
We’re working off the extremely oversold levels we just had but we have a ways to go before we are back to a neutral reading, and if all goes well, we will see an overbought reading before I lock in gains!
I’ve still got 10% into SPY at 195.77 so I can look to cost for stops now.
Enjoy your evening.