Another Quiet Consolidation Day

**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.**

Smooth seas do not make skillful sailors.” — African Proverb

Another pretty quiet day as markets hold and consolidate near highs and that is a great thing that points to higher.

I’m still not doing much but a few leading stocks who are holding earnings gaps remain strong and set for higher anytime now as I’ve talked about here to members this week and

I will once again cover those tonight.

SPY February 12, 2015SPY tried to go just before Obama spoke on ISIS this afternoon but then it rolled back.

We are still set for a move higher as long as we remain above the 50 and 21 day moving average at the 204 level.

I may bump up some position sizes in the right stocks here if they breakout.

I won’t be heavy yet but medium I imagine.

That can always change very quickly of course and that’s where real-time members get the edge and depending on how TSLA reports tonight that change may be here again but whether it lasts only time will tell as we saw with NFLX earnings recently.

Have a nice night.

Warren

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