**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 Trade Ideas to see the rest of this letter.**
“If you can’t live through adversity, you’ll never be good at what you do. You have to live through the unfair things, and you have to develop the hide to not let it bother you and keep your eyes focused on what you have to do.” — Maurice “Hank” Greenberg
I don’t really know what’s going on here to be honest.
I thought we’d see a period of consolidation, and we are, but I thought I’d be able to grab a few shorts during this time but it‘s a no go so far.
I’ve tried 3 short positions in the last week and all stopped me out for small losses.
This market just doesn’t want to stop with AAPL hitting new highs today, AMZN on the cusp and MSFT not far behind either.
For me, I think doing nothing for a few days and keeping a close eye for new setups to form is best.
I always find, and have learned the hard way numerous times, that if I don’t know what to do, then do nothing.
I just think we need more rest but I’ve been wrong before.
Time will tell.
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