More Chop

**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.**

“You don’t have to have great ideas if you hear great ideas.” – Eugene Schwartz

There isn’t much to say as stocks continue to chop around on mixed earnings.

We’re seeing lots of failed breakout moves and some stocks are also nearing key support levels such as ACIA who has filled it’s massive gap from last earnings season.

I’m all cash and in wait and see mode but stocks such as ACIA may well setup for us over the next few weeks and as always, having the patience to wait for proper setups will pay, eventually.

october-31-2016SPY looks to be breaking this large head and shoulders top.

Next support level is 210 if we do break lower.

Have a spooky weekend!


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