Heavy Hitter Earnings Week

**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.**

“I don’t measure a man’s success by how high he climbs but how high he bounces when he hits bottom.”  George S. Patton

More solid action as we consolidate recent gains very well.

I’m just sitting on my positions, letting them ride and bumping stops up when I can.

I’m not looking to add any new positions since I’ve got a pretty full portfolio.

Many new setups are working from my recent letters and all is good this summer.

We’ve got some heavy hitters reporting tonight and over the next few days like AAPL AMZN FB and GOOGL so be aware and reduce or sell out of be ready for a wild ride over earnings depending on your strategy and risk tolerance.

SPY July 27, 2016SPY remains in this horizontal channel which continues to imply higher prices are to come.

I’m still long SPY from 202 with a 10% weighting with 215 or so still my stop area.

Have a wonderful evening.


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