The Thick Of Earnings

**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.**

“Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin

No summer doldrums as we move well through earnings.

We’re seeing some super, super moves and more look to be ready to go.

I do love to take more time off during summer but that is always dictated by markets and this year is quite busy.

I do a lot of waiting around for trades and when they come I pounce.

The trend remains up and the bull market intact.

SPY is on the move again out of a small 3 day bull flag.

With some major heavy hitters like AAPL AMZN and GOOGL entering the earnings confessional next week we should see strength continue I imagine.

Hopefully we can take a little time off once earnings season begins to slow down but time will tell.

Enjoy the evening.

Warren Bevan

Earnings Kicking In

**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.**

“We may encounter many defeats but we must not be defeated.” – Maya Angelou

And just like the the Nasdaq closed at new highs on the back of NFLX earnings.

We’ve got more heavy hitters on deck so we should see more strength over the next few weeks if all continues as it has.

Buying dips continues to work for now.

Gold and silver have annulled their bearish patterns but are quickly approaching resistance and they remain out of favour and not at all where the easy money is so I’m avoiding them, but still watching.

Solid action from SPY breaking into new highs and now looking to be setting up a bull flag which should push it higher still.

Let it ride!

Have a nice night.

Warren

Top Of The Range

**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.**

“I think it all comes down to motivation. If you really want to do something, you will work hard for it.” – Edmund Hillary

Some better action today in the bio, pharma and tech sector but action should remain subdued until earnings kicks off in a couple weeks.

Patience pays.

That said, I do have a few positions on and more setups are starting to appear and I do foresee taking some more trades in the near future.

I am away this weekend so no reports.

Whoop, whoop!!

SPY is at the top of its range so let’s see if we can breakout or see more rest as we wait for earnings season to kick off.

Have a great weekend.

Warren Bevan

Waiting On Earnings

**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.**

“If you want to make your dreams come true, the first thing you have to do is wake up” – J.M. Power

Very quiet action, meaning, there is no action.

The trend does remain higher but bases need to be built as stocks build the strength to continue higher so no rush.

It will happen when it happens and we will be ready.

Earnings season really gets going on the 19th so we may have to wait until then to get some better moves.

Being summer now, that is fine and dandy by me!

SPY continues to range between 241 and 244 and will until it doesn’t.

A move either way should be good for a trade.

Enjoy the summer days.

Warren Bevan

Short & Wild

**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.**

“There will come a time when you believe everything is finished. That will be the beginning.” Louis L’Amour

The week was short, but wild.

We saw tech get hit hard, then rebound, bios and pharma looked great but failed and metals got hammered.

We should get some more clarity next week as traders return from a nice week off.

SPY bounced well off the 50 day average and closed above the 21 day average which is very positive action.

Accordingly, we should continue nicely higher right away, if we move back under the 242 area then chances are we move lower, below 240 to 238.

The Nasdaq still has a head and shoulders pattern but that may be cancelled out shortly if we get another strong day, so let’s wait and see.

Enjoy your weekend.

Warren Bevan

Large Head & Shoulders

**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

The wild swings continue on relatively low volume with traders taking this week off for the most part.

There isn’t much to talk about but it does looks like we may get a deeper correction at the moment with a nice head and shoulders pattern on the Nasdaq, but we should get a better read on that judging by Friday’s close.

SPY has to close the week above 241 to stay in its range or risk a drop to 238.

Have a great evening.

Warren

Take The Week Off

**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.**

“Be easy. Life is good.” Jason Khalipa

Some wild action this past week as we continue to base and may see some downside from some stocks as we see markets continue to build bases and consolidate.

I don’t see this bull market as being over yet, with the real fun yet to come.

Next week should be all but written off with Monday a half day and Tuesday markets are closed.

All but the computers will most likely be taking the whole week off enjoying some time away.

No need to try to trade and most likely get chopped up, so I’ll likely not do much in the week to come.

SPY remains in the flat channel between 241 and 244.

A couple or few weeks and we should break higher into a new range.

Have a wonderful long weekend.

Warren Bevan