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.
“Be easy. Life is good.” Jason Khalipa
Some wild action this past week as we continue to base and may see some downside from some stocks as we see markets continue to build bases and consolidate.
I don’t see this bull market as being over yet, with the real fun yet to come.
Next week should be all but written off with Monday a half day and Tuesday markets are closed.
All but the computers will most likely be taking the whole week off enjoying some time away.
No need to try to trade and most likely get chopped up, so I’ll likely not do much in the week to come.
SPY remains in the flat channel between 241 and 244.
A couple or few weeks and we should break higher into a new range.