**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 Trade Ideas to see the rest of this letter.**

“Patience, persistence and perspiration make an unbeatable combination for success.” – Napoleon Hill

Some choppy action today as we build bases in indexes to move higher from while some stocks just ripped like BABA, which we didn’t have, but SWIR we did.

Gold is looking fine and I’ve got a good chunk of miners for the moment and I am very curious to see if we can get a strong close to the week tomorrow.

All in all, there isn’t a reason to be short much, unless it’s an inverse ETF.

(Click on image to enlarge)

I like the little flat channel or bull flag here.

I don’t see this chart pointing to lower prices in the near future.