**These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups.
“Finite players play within boundaries; infinite players play with boundaries.” James P. Carse
The stock action remains quiet now in the heart of summer with most moves coming from earnings releases and many are fizzling out quickly making it better to mostly be in cash and enjoy the sun while it shines.
Trading in a market like this often just chops you up taking small losses or small gains one after the other so save the stress on your mind from being wrong and wait for perfect setups which are in the midst of forming.
You really only get a couple or few strong periods in a year so the rest of the time should be spent enjoying life and being ready for the next period of strength.
SPY remains rangebound and quiet.
Not much to see on this chart other than the range which is a great consolidation period which should take us higher but we are due for a 10% correction or so, and that would be best for nice strength through the fall.