Avoiding Stocks

**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.**

“What would you do if you weren’t afraid.” –Spencer Johnson

More chop today with a side of weakness and the S&P is still holding support.

This is a great market to avoid so I’m doing just that.

I will be away for about 2 weeks starting any day now, as soon as one small part for the motorcycle arrives.

I’ll need some rest days and do plan on doing some writing on those days but the blog and nightly letter will be sporadic, at best.

The precious metals are resting and that is good action as the new phase of the bull market is just in the very early stages.

SPY May 4, 2016SPY is holding 205 which is good action and points to a move higher but if we do break 205, that level can be shorted with 202.50 the next support area to look at.

Have a lovely evening.

Warren

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