About Warren

Writer, investor, trader, mastering myself and markets along the way. Lover of fine foods, wines, books, adventures and all travel. Building wealth for you and I, one day at a time.

Long Only Market

**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.**

“Luck is not something you can mention in the presence of self-made men.” – E.B. White

Friday was very quiet as many took the day off to extend the long weekend an extra day.

The S&P and Nasdaq remain in new high territory while the smaller cap Russel is trying to play catchup.

The action is fine, although many charts still need time, but are working well to build solid patterns.

Buying dips remains a working affair, while trying to short is not.

The metals continue to act and look solid with higher prices looking good.

All good for SPY holding well into new high ground.

There is, and has been, only one way to trade this year and that is from the long side and that does not look set to change.

Have a wonderful long weekend.

Warren

Another New Breakout

**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.**

“An hour of effective, precise, hard, disciplined, and integrated thinking can be worth a month of hard work.” – Kekich Credo #44

Pretty quiet action this week until we got news that the Fed is looking to raise rates sooner than later which increases the likelihood of a raise in June before summer recess.

Stocks like this news and are breaking out now with GOOGL and AMZN in a heated battle to win the race to $1,000.

Many charts are coming around nicely and we should have a lot of new buys emerge over the days and weeks to come.

SPY is back at its old tricks and moving higher.

Amazing action to be sure.

All clear for higher prices now.

Enjoy your evening and have a wonderful long weekend to come.

Warren

The Madness Is Real

**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.**

“Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.”― Zig Ziglar

I’m not seeing too much action this week as markets are stalled out and many charts are not ready to go, even with Nasdaq and S&P charts on the verge of new all-time highs.

It seems like stocks and the markets have their wires crossed.

Half the battle is waiting for the right setups.

SPY looks ready for another go at new highs unbelievably.

I still have a hard time believing last weeks heavy one day of selling was just that, but a move into new highs is proof the madness is real.

Have a great evening.

Warren

Bounces

**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.**

“To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.” Alexander Elder

Some wild action this week to be sure.

It‘s just hard to grasp the fact that we fell so hard on such heavy volume, and then we come back as if nothing has happened.

I’m still skeptical of this bounce, but so far it’s working and I am into a BIDU long for now but it may not last long.

SPY snapped back large but couldn’t hold above the gap area at 238.80 to close out the week.

As long as we stay under said gap area, we should see more weakness but who knows.

I surely didn’t expect such a sharp quick move up from the Wednesday weakness.

Enjoy your weekend.

Warren

Likely More Selling To Come

**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.**

“To be a good trader, you need to trade with your eyes open, recognize real trends and turns, and not waste time or energy on regrets and wishful thinking.” Alexander Elder

A decent comeback after major weakness Wednesday.

Dips have been bought and this one seems to be no exception, but charts have been hit and may need time.

To me, it looks like markets need more time than one day to refresh before we move higher, so I do expect this dip to not be bought as strongly as we have seen the odd time we see a down day.

SPY came back pretty well but I need to see it move above 238 before I am convinced this very sharp, strong, dip on heavy selling was a one day wonder.

I just can’t see that type of selling lasting only 1 single day.

Time will tell, likely tomorrow, since we move so quickly when we do move.

Enjoy your evening.

Warren

SPY Showing A Failed Breakout

**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.**

“To handle yourself, use your head; to handle others, use your heart.”  Eleanor Roosevelt

It remains a stock pickers market with Nasdaq still running but SPY falling back below the breakout level seen Monday.

It’s rarely a good omen to see a failed breakout.

Gold and silver continue to show a turn higher.

No go yet for SPY.

Let’s see if the failed breakout holds or if we can see it get going very soon.

Enjoy your night.

Warren

Long In The Tooth

**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.**

“To handle yourself, use your head; to handle others, use your heart.”  Eleanor Roosevelt

Stocks are mixed and look to need more time to me.

We’ve seen some great moves over the past few weeks but many charts still need some time.

Gold looks to be taking the turn higher and mining stocks have held up remarkably well and should move nicely in a rising gold environment.

This handle is too long.

Last weekend I pondered that the handle of the cup and handle pattern was getting too long in the tooth and it has now indeed rested too long and is more prone to failure right now than a break higher.

Time will tell.

Have a wonderful weekend.

Warren