Basing Is Nearly Complete

**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.**

“Always have lofty, explicit goals and visualize them intensely. Assume the attitude that if you don’t reach your goals, you will literally die!” – Kekich Credo #21We saw

We’re not seeing a ton of upside action of late although AMZN GOOGL and NFLX are acting great and looking spectacular for more upside.

Leading stocks lead and these 3 have been leaders for year and are telling us to get long now.

Great stuff as SPY continues to base and want higher anytime at all now.

Not really much to say when charts are so pretty.

Enjoy the football!!

Warren

Continuation

**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.**

“Many people fail in life, not for lack of ability or brains, or even courage, but simply because they have never organized their energies around a goal.” – Elbert Hubbard

We saw volatility pick up Wednesday and into today as Trump gets closer to his inauguration and is talking more and more.

I don’t expect this to be anything but chances to buy the dips, as we’ve seen over and over the past few years.

Nice stuff from SPY who continues to base well and setup for more upside, still.

Another week or two of basing and we should be off to the races.

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Have a great night.

Warren

Spectacular Fashion

**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.**

“People tend to abandon the good system they’ll follow in search of the perfect system that they will quit.”  Tim Ferris

Another solid day as charts continue to setup in spectacular fashion.

I’ve got my full load of stocks for the most part still.

I always hold positions until they tell me not to, and that is not being told to me.

Gold and silver continue to act strong but may see drying dry up once the Chinese New Year holiday begins on the 27th.

All in all, things continue to act great, so being in the right stocks and sitting is the way I’m playing this, until it changes.

January 11, 2017SPY continues to hold near highs but not accelerate higher yet.

Fine action as we continue to base and setup for continued strength.

Bases tend to last 6 to 8 weeks and we are now in week 5.

Earnings season looks set to coincide with when this base should breakout.

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Have a nice night.

Warren

Less Work, More Money

**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.**

“Men who can both be right and sit tight are uncommon”  Jesse Livermore

We continue to see strong action.

The trend remains up so let it work for you.

As Jesse Livermore did say, “It was never my thinking that made the big money for me, it always was sitting”.

So, on that note, let’s make 2017 the year of less work, more fun, and more money!!!

January 9, 2017SPY is breaking out.

I’d prefer more volume into new highs but every single long is in the money now, once again.

Let that sink in.

Why would anyone with a profit sell?

Enjoy the ride for a while yet.

Warren

Superb Skiing & Top Notch Market Action

**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.**

“Those who are easily shocked should be shocked more often.”  Mae West

A nice strong start to the New Year after a quick shake and bake lower to end the year.

Markets and stocks looks strong, strong, strong.

I’m letting my positions ride after most of them have corrected, found support and are now looking to continue higher.

january-5-2017Great action from SPY who continues to look for new highs.

The trend remains up so enjoy life and let it ride.

I remain very heavily weighted in stocks and would like to keep it that way.

I’m off skiing for the week and enjoying the best snow I’ve had in years.

Unfortunately, the internet is painfully slow but managing positions from the phone always proves easy, if need be.

Enjoy your evening and the great market we are given right now.

Warren

Back To Work

**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.**

“Those who are easily shocked should be shocked more often.”  Mae West

A bit of a weak short week into the end of 2016 but let’s wait and see how stocks act as we begin the new trading year Tuesday.

Charts look fine for the most part but I’m not seeing a ton of new setups for the time being, so managing current positions is my focus.

Life has been busy but should finally slow down as we begin to turn our focus back to work and stocks.

january-3-2016SPY broke the horizontal channel Friday on increasing volume which isn’t great but it is holding the 21 day average so far.

Let’s see how the new year of trading begins.

We’ll either be all good, or back to all cash, and should know relatively early in the day.

I hope you enjoyed your holidays and are ready to get back into money making mode.

Warren

Merry Christmas

**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.**

“You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.” Warren Buffet

We’re heavy into the holidays with traders mostly away and volume lagging but stocks still look great.

Sometimes while volume is so low we can see some great moves but so far moves are generally pretty subdued, but setting up for continued upside action into the New Year, but time will tell.

There’s always the chance that stocks are just being held up for tax purposes and we will see selling accelerate into the New Year but charts are not saying this right now.

december-23-2016A nice wedge for SPY still which points to a breakout higher anytime.

This is a very positive chart.

Merry Christmas and all the best in this strong market and wonderful life we get to live.

I may not have another blog or letter out until the New Year, so enjoy!

Warren Bevan