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Assessment: It’s been a quiet summer of trading. The past few weeks I have been concentrating on getting ready for football, so I apologize for keeping my trading fans without content. However, there really hasn’t been much. The slow grind higher continues and we appear to have stalled briefly now at 640 in SPY.
As I said coming into July, I didn’t expect to see any real trading action or opportunities for swing traders until late August or early September. I continue to hold to that assessment. We did get an interesting volume spike today, so I am wondering if there is a short term decline getting underway. We’ll see what the next couple days bring. I don’t think much tomorrow as the summer has been dead for excitement overall and Friday’s are usually dull after 10am ET.
SPY Chart: https://sblk.io/s/alxliaulF2FRhDN
Good luck in your trades!