Breaking Lower

**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.**

“Time is your friend; impulse is your enemy.”  Jack Bogle

We broke Friday and now I’m looking to get into some short positions.

The chop continues so that remains how we have to play this market using short-term swing trading strategies.

The US dollar continued to bounce which helped push stocks lower Friday .

TLT also continues to be strong and it usually moves in opposite directions to stocks but it may be topping after printing a doji bar Friday, which will be confirmed with a lower close Monday.

Lots of confusion in this market where only swings trades continue to work.

SPY June 12, 2016I’ll look to see how 207.50 then 205 support areas hold in the week ahead.

We should be able to grab some nice gains on the short side but you’ve got to be pretty quick.

Enjoy your weekend.


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