**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.**
“In this business if you’re good, you’re right six times out of ten. You’re never going to be right nine times out of ten.” Peter Lynch
I’m back, exhausted, but back.
The last couple weeks wandering around the back roads of the southeastern US has been wonderful and something I needed badly.
I missed some great moves in stocks but that’s how it goes.
Now many stocks need rest as they’re up against resistance areas.
I was planning to do some work from the road but internet and cell reception was spotty and I just rode my motorcycle and didn’t think much about work, which was very nice.
I’m always weary of low volume breakouts so it looks like we may need a bit more rest still.
That said, it we do see a bump up in volume and a move higher I’ll be getting in heavy in a hurry.
Have a great night.