**These are my thoughts on the SPY (NYSE:SPY) ETF in my Daily Trade Ideas**
People don't value things that don't have value. – Jon Acuff
Up, up we go.
Stocks continue to act great with the near lone exception of steel stocks who’ve reported solid earnings, but are reacting to a negative note out on them which looks to me to be just banter for the big boys to buy at cheaper prices.
The steel stocks should to quite well in the years to come.
The Dow finally crossed the 20k mark and closed above it as the charts said it would.
Moving above such a number that weighs to heavily on the mentality of stocks is great news.
Large round numbers such as 100 or 1k usually are cause for pause, and that's what we saw with the Dow.
Some rest at resistance to build up the strength, and now the break for it above said resistance.
Buy the micro-dips!
Nice stuff from SPY as it breaks out on better up volume than down.
I’ll be on the road and skiing this weekend but they assure me of faster internet this go round so fingers crossed I can get some writing done on the weekend.