**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 on the right to see the rest of this letter.**
“Change your thoughts and you change your world.” ~Norman Vincent Peale
Some weakness today for markets but the good news is they just filled recent gaps so they should begin to reverse higher now.
Things can’t go up everyday and today was constructive action that sets us up for a nice move higher which should be more sustainable instead of just a quick pop like we’ve seen.
I still think we have another 2 or more years to run in this bull market but who knows with the fed going to begin raising rates perhaps later this year.
I did a decent amount of buying today and would like to buy more of stocks with the right setups who are breaking out.
Unfortunately we did take a hit today with ARWR which was working so well for us from our $8 buy point last week but with these healthcare and biotech stocks news can come from nowhere and either help or hinder, and in this case it hindered.
I took my loss and am moving on since that’s all we can do.
No point dwelling on it and really, there is no lesson to learn since it was acting so well last week.
I wish there was a lesson to learn but this was an act of god I guess.
One quick housekeeping note.
My real-time service is ending on the 15th and I’ve decided what to do going forward.
I am going to run this term free for existing and new members until the end of the month as I get my admin work done for the next round.
I am going to do another round of real-time trading which will go from February 1st until May 31st since that is generally the end of the great winter moves.
We may be able to take things a bit easier in the summer if the rest of this winter plays out as I hope.
The cost will remain the same, $100 a month for real-time alerts on trades I make and some I don’t make but think are good, usually with thinner stocks.
This also includes my nightly daily trade ideas where I talk more in depth about the stocks I hold and also the weightings and stop levels.
And of course, I cover any great looking charts that are ready to move next.
So you will get all that for $400 and that $400 will quickly be paid off once we begin.
Also, if you do sign up right now, you will get two weeks free, but really, to be honest, I usually run an extra 2 weeks for free at the end so you may well get a month free if you subscribe right away and you can do so here at the top right http://wizzentrading.com.
Breakaway gaps are great but they generally happen near the end of moves so this tells us we have a while left in the bull market most likely.
Still, things look fine and leading stocks with nice bases are moving or are set to soon.
Have a nice night.