**These are my thoughts on the SPY (NYSE: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.**
“No matter what rock is in the way, no matter what storm is on the way, the water’s ultimately going to go down the river.” Maria Sharapova
A pretty quiet end to the week as kids head back to school.
September is usually choppy and so far that’s what we’re seeing although select stocks continue to act great, along with the mining space, but it could use a little rest.
Is this an imperfect cup and handle? Maybe so. Ideally we would not see a failed breakout but rules are meant to be bent.
As long as we stay above the 245.50 area as this handle forms then I have to think we’re set for a big move higher very soon.