SPY Uptrend Channel Has To Hold Now

**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.**

“There is no traffic jam along the extra mile.” –Roger Staubach

We opened with a good sized gap down but leading stocks took off higher as soon as we opened and performed well for the most part with TSLA being my best performer today.

I am seeing a few cracks but in general we still look fine for higher so I’m holding and keeping my stops a bit loose but still with nice gains or at cost.

I’d love to hold my positions for another 6 to 8 weeks but that doesn’t mean they’ll let me.

SPY April 6, 2016SPY has to hold this uptrend channel or I’ll be checking out of my stocks.
Let’s see how tomorrow goes, I suspect I’ll either have done nothing, or sold everything by the end of the day tomorrow so it’s a big day either way.

Have a nice evening.

Warren

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