Support Held & We Are Free To Run Higher Now

**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 could not, at any age, be content to take my place by the fireside and simply look on.

Life was meant to be lived. Curiosity must be kept alive. One must never, for whatever reason, turn his back on life.” Eleanor Roosevelt

A much better day than Tuesday today with stocks coming back well and markets also.

There just wasn’t any real panic selling Tuesday which convinced me to hold most of my positions and even add to GILD at the $110 area at the lower end of its bear flag.

SPY May 28, 2015SPY bounced superbly off the breakout level at 211 and showed a beauty 2 day reversal but it does need to see a higher close tomorrow to confirm this.

All in all, great, great action that just tested the breakout area and shook many people out and now we should be free to run higher.

Have a wonderful evening.

Warren

Welcome Back!

**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.**

“Every artist was first an amateur.”  Ralph Waldo Emerson

An unfortunate welcome back from the long weekend today with tons of weakness that did see me do some selling but most of my stocks remain strong and are holding up well, for now.

I’m ready to locking gains or keep losses small if they come but I really want to see what tomorrow brings before making too many sell decisions.

SPY May 27, 2015SPY fell on increasing volume but not huge volume.

This 211 is key and holding so far but we may be back in the large triangle again very soon judging by todays action unfortunately.

Let’s just see what tomorrow brings.

Have a nice evening.

Warren

Quiet Action Into The Long Weekend

**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.**

“Empty your mind, be formless. Shapeless, like water. If you put water into a cup, it becomes the cup. You put water into a bottle and it becomes the bottle. You put it in a teapot it becomes the teapot. Now, water can flow or it can crash. Be water my friend.”  Bruce Lee

Friday was pretty quiet but still very constructive with markets holding well as we move into the long weekend.

My stocks remains strong with some nice moves while others are still not going yet but are very close.

We’ve got some great buys from last week set to go and there will be several really good looking charts later on in this report.

SPY May 26, 2015SPY continues to build a bull flag as it seemingly waits for the other indexes to setup near new highs and hopefully they will all breakout in tandem on extraordinarily heavy volume.

All we can do is watch for cues until we either breakout, or roll over.

I’m still very heavy in stocks and they area acting great still.

I hope you’re having just a fantastic long weekend.

Warren

Buy Right & Sit Tight

**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.**

“It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!” Jesse Livermore

Things are acting like it’s a buy right, sit tight market but I‘ve always got to be aware of potential reversals.

We’ve seen this type of slow, marching action not too long ago only to wake up one day to a large reversal where had you held, you’d have given all your gains back in a day or two.

As soon as I get a sniff of that I’ll be locking in my gains but so far, so good.

I’m still very heavy into stocks and really not looking to add much more.

SPY May 22, 2015SPY is building a nice bull flag here and waiting for the other indexes to catch up it appears.

All in all, good stuff that points to higher prices.

Have a wonderful evening and a super long weekend.

Warren

Stuck At Highs

**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.**

“Avoid problems, and you’ll never be the one who overcame them.” Richard Bach

This Wednesday was pretty quiet for the most past until the Fed news came out that chances are most likely we will not see a rate increase in June and then stocks and markets began to really move well until falling late in the day.

We’re still looking great although we still are not seeing the large volume increases I’d prefer to see but that can change anytime.

I remain very heavy into stocks and would like it to remain that way but if we do reverse I will be out very quickly.

SPY May 21, 2015SPY looks to be building a nice bull flag here which could be just a little consolidation while the Nasdaq and Russell catch up and then perhaps we can see all three markets breakout on strong volume but that is just a perfect scenario and I do not predict, I react so let’s just see what plays out.

Enjoy your evening.

Warren

New Highs But Low Volume

**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.**

“Absorb what is useful, Discard what is not, Add what is uniquely your own.”  Bruce Lee

Stocks are acting great and I remain heavy into stocks but volume in the indexes is nothing special yet, even in the S&P as it breaks into new high ground.

We’ve seen this low volume type of breakout before and sometimes it can work for a time and other times, not at all.

I’m ready to exit stocks quickly if these breakouts fail once again as we’ve seen many times over the past year or more.

One of these days we will get a major breakout on heavy volume but this slow grind higher and chop is helping to build the longer-term weekly and monthly charts well, which will allow our current bull market to run long.

May 20, 2015SPY is into new highs and acting great but lacking volume.

As long as it remains above the 212 area we are fine but it may roll over unless the QQQ and IWM can catch up quickly and then we see all 3 indexes move with strong volume increases.

Time will tell.

Enjoy your evening.

Warren

Stocks Say It’s Breakout Time

**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.**

“The greater danger for most of us is not that our aim is too high and we miss it, but that it is too low and we hit it.”  Michelangelo

A great day for stocks including CLVS that we bought early today down at the 86 area and it is acting perfectly, as you want to see when a stocks breaks above a buy point, but that has been a rare event as of late so it’s a nice change.

Closing strongly and above $100 is so nice to see and on massive volume.

Markets are acting great and near highs in the case of the S&P and Nasdaq and the

Russell is trying to move back above a key level as well.

As I’ve said here, I have been in cash for a few weeks and began to buy back in this week and then more today and now I’m in the market with a decent size already.

We may just be starting this move, or it may fail and I’ll be quickly back to cash but so far it seems like our patience is paying off well, doubly so in the case of CLVS!

There is only 1 month left in my real-time trading service so it’s only $100 now and that includes any buy or sells I make sent to you in real-time via email, twitter and text message and it also includes the full version of this report where I delve into many stocks beyond the free blog portion where I talk about the SPY ETF only.

Everyone payed for their subscriptions today in spades with CLVS.

SPY May 15, 2015SPY is close to going and it needs to clear this 212 area on heavy volume and stocks are telling me it should happen very soon so let’s just see.

Have a great long, but never quite long enough, weekend.

Warren