Poor Earnings Reactions

**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 Trade Ideas to see the rest of this letter.**

“Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.” – Thomas A. Edison

Well, well well.

We did see some heavy weakness this afternoon which didn’t last too long but it is always a warning when we see that type of move lower on heavy volume.

Sometimes it’s a warning shot across the bow, other times it hits, so time will tell, likely

Friday will be that time.

AMZN is down tonight as well as SBUX who started higher, so tomorrow may be a gong show in the market and I’ll be doing lots of selling.

Things may change overnight but so far the end of this week looks sketchy.

SPY looks fine in this normal range action but let’s see how tomorrow goes.

Under 246 on a closing basis wouldn’t be great but it may be hard to give it until the close if we see volatility really pick up.

Enjoy your evening and be careful tomorrow!

Still Trending

**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 Trade Ideas to see the rest of this letter.**

“Know what you own, and know why you own it.” – Peter Lynch

We’re still seeing strong action, even in the face of poor GOOGL earnings.

All in all, the strength remains intact but surely we do need to take a rest in the not too distant future so I’m ready to reduce or lock in gains when that signal comes.

Solid action from SPY as it trends nicely higher.

Have a great night.

Warren

Big Week Ahead

**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 Trade Ideas to see the rest of this letter.**

“Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

Another fine week with next week giving the potential for a very strong move.

Some big companies are set to report and if numbers come in strong then we should have one of the best weeks of the year and it’s been a good year.

I’ve been wrong before but all sign point to go!

The SPY chart looks great.

With GOOGL, AMZN and lots of other leading stocks reporting in the coming week it could be a good one.

Enjoy your weekend and the strong market while it lasts.

Warren Bevan

The Thick Of Earnings

**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 Trade Ideas to see the rest of this letter.**

“Tell me and I forget. Teach me and I remember. Involve me and I learn.” – Benjamin Franklin

No summer doldrums as we move well through earnings.

We’re seeing some super, super moves and more look to be ready to go.

I do love to take more time off during summer but that is always dictated by markets and this year is quite busy.

I do a lot of waiting around for trades and when they come I pounce.

The trend remains up and the bull market intact.

SPY is on the move again out of a small 3 day bull flag.

With some major heavy hitters like AAPL AMZN and GOOGL entering the earnings confessional next week we should see strength continue I imagine.

Hopefully we can take a little time off once earnings season begins to slow down but time will tell.

Enjoy the evening.

Warren Bevan

Earnings Kicking In

**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 Trade Ideas to see the rest of this letter.**

“We may encounter many defeats but we must not be defeated.” – Maya Angelou

And just like the the Nasdaq closed at new highs on the back of NFLX earnings.

We’ve got more heavy hitters on deck so we should see more strength over the next few weeks if all continues as it has.

Buying dips continues to work for now.

Gold and silver have annulled their bearish patterns but are quickly approaching resistance and they remain out of favour and not at all where the easy money is so I’m avoiding them, but still watching.

Solid action from SPY breaking into new highs and now looking to be setting up a bull flag which should push it higher still.

Let it ride!

Have a nice night.

Warren

Top Of The Range

**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 Trade Ideas to see the rest of this letter.**

“I think it all comes down to motivation. If you really want to do something, you will work hard for it.” – Edmund Hillary

Some better action today in the bio, pharma and tech sector but action should remain subdued until earnings kicks off in a couple weeks.

Patience pays.

That said, I do have a few positions on and more setups are starting to appear and I do foresee taking some more trades in the near future.

I am away this weekend so no reports.

Whoop, whoop!!

SPY is at the top of its range so let’s see if we can breakout or see more rest as we wait for earnings season to kick off.

Have a great weekend.

Warren Bevan

Waiting On Earnings

**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 Trade Ideas to see the rest of this letter.**

“If you want to make your dreams come true, the first thing you have to do is wake up” – J.M. Power

Very quiet action, meaning, there is no action.

The trend does remain higher but bases need to be built as stocks build the strength to continue higher so no rush.

It will happen when it happens and we will be ready.

Earnings season really gets going on the 19th so we may have to wait until then to get some better moves.

Being summer now, that is fine and dandy by me!

SPY continues to range between 241 and 244 and will until it doesn’t.

A move either way should be good for a trade.

Enjoy the summer days.

Warren Bevan