Earnings Season Is Roaring

**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.**

“Chance favors the prepared mind.”  Louis Pasteur

Friday was a large day for the Nasdaq with GOOGL and NFLX soaring on earnings.

We’ve got some more heavyweights reporting in the week ahead as well so the Nasdaq may continue to outperform and that is always a great sign, we just have’t seen it in a while.

There are some solid buys later in this letter that should hit anytime now and things are now looking to get busy this summer, for now at least.

July 20, 2015SPY is at resistance and I’m not sure if the Nasdaq’s strong move can pull it along with it or not.

If we consolidate near 212 for a few days then we may well break higher but I’m not sure about that yet.

So far the earnings season is very strong, even during the summer, and I’ve missed it but I may be able to salvage some nice gains shortly.

Have a great day.

Warren

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