Back To Work

It was a bit of a weak short week into the end of 2016 but let’s wait and see how stocks act as we begin the new trading year Tuesday.

Charts look fine for the most part but I’m not seeing a ton of new setups for the time being, so managing current positions is my focus.

Life has been busy but should finally slow down as we begin to turn our focus back to work and stocks.

january-3-2016

SPY broke the horizontal channel Friday on increasing volume which isn’t great but it is holding the 21 day average so far.

Let’s see how the new year of trading begins. We’ll either be all good, or back to all cash, and should know relatively early in the day.

These are my thoughts on the SPY ETF in my Daily Trade Ideas which includes many, many more charts and setups. Subscribe to my nightly Daily Trade Ideas to see the rest of this letter.

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