**These are my thoughts on the SPY (NYSE:SPY) ETF in my Daily Trade Ideas which includes many, many more charts and setups.
“Luck is not something you can mention in the presence of self-made men.” – E.B. White
Friday was very quiet as many took the day off to extend the long weekend an extra day.
The S&P and Nasdaq remain in new high territory while the smaller cap Russell (NYSE:IWM) is trying to play catch-up.
The action is fine, although many charts still need time, but are working well to build solid patterns.
Buying dips remains a working affair, while trying to short is not.
The metals continue to act and look solid with higher prices looking good.
All good for SPY holding well into new high ground.
There is, and has been, only one way to trade this year and that is from the long side and that does not look set to change.