Leading Nasdaq

**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.**

“The game taught me the game. And it didn’t spare me rod while teaching.” Jesse Livermore

Friday was pretty nice to close out the week on with some good action coming from indexes, the Nasdaq in particular is leading and it’s always best when the Nasdaq leads.

That said, it is a stock pickers market right now with not a ton of stocks moving and the weakness right into the close wasn’t great to see from the S&P 500 but let’s see what Monday brings.

october-3-2016SPY seems fine to me here still in this large triangle.

216 is a solid pivot area and above it is great, as we are now.

Enjoy your weekend.

Warren

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