A Nice Wedge For SPY

We’re heavy into the holidays with traders mostly away and volume lagging but stocks still look great.

Sometimes while volume is so low we can see some great moves but so far moves are generally pretty subdued, but setting up for continued upside action into the New Year, but time will tell.

There’s always the chance that stocks are just being held up for tax purposes and we will see selling accelerate into the New Year but charts are not saying this right now.

december-23-2016

A nice wedge for SPY still which points to a breakout higher anytime.

This is a very positive chart.

Merry Christmas and all the best in this strong market and wonderful life we get to live.

I may not have another blog or letter out until the New Year, so enjoy!

Warren Bevan

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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