**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.**
“I don’t measure a man’s success by how high he climbs but how high he bounces when he hits bottom.” George S. Patton
More solid action as we consolidate recent gains very well.
I’m just sitting on my positions, letting them ride and bumping stops up when I can.
I’m not looking to add any new positions since I’ve got a pretty full portfolio.
Many new setups are working from my recent letters and all is good this summer.
We’ve got some heavy hitters reporting tonight and over the next few days like AAPL AMZN FB and GOOGL so be aware and reduce or sell out of be ready for a wild ride over earnings depending on your strategy and risk tolerance.
I’m still long SPY from 202 with a 10% weighting with 215 or so still my stop area.
Have a wonderful evening.