**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 know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment.” -Jesse Livermore
A solid day as many stocks are now on the move.
I have a feeling I’ll be starting many of my nightly letters with those same words over the next couple of months
I reopened up my real-time service for a few days since demand has been quite high lately as markets and stocks are set to make us our money for the year over the next couple of months.
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Stocks are really moving nicely now and markets are as well.
I’d have preferred to see a few more rest days but that is not up to me.
Breaking out even while quite overbought shows the strength of the market we have right now.
Of course, I could be wrong but that is why we have stops but the market is never wrong and it is telling me we are going higher now.
If the market changes its mind, I will as well.
I am a follower of markets and stocks, not a leader.
A solid move from SPY although on lower volume.
Next resistance is the 200 area but this should be the break that take us nicely higher into the end of the year.
Not straight up, but dips should be able to be bought.
Here we go!
Enjoy the baseball game tonight!