Gyrations

**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’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong. ”  George Soros

Some good strong action early in the day until the Fed reiterated their desire to crater markets and hike rates in June.

Time will tell this tale but I’d not be opposed to reaping large quick gains in some short positions just before summer kicks into full gear!

SPY May 19, 2016SPY is still setting up for a break lower as I see this chart.

I’m still short 15% in SPY from 205.50.

The next short level is a break of 203.90.

Have a super evening.

Warren

Fed Threats

**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.**

“Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.”  George Soros

We saw choppy action in stocks today as they continued to setup for a break lower, then

Fed speak late in the day sparked a selloff when they said they’re still considering a June rate-hike.

Markets do not want a rate-hike.

That said, I’m now short TSLA AMGN and SPY and we can make a killing in short positions if the Fed does indeed follow-though on their threat of a June hike.

SPY May 18, 2016SPY is right at the neckline now and set to break lower right away.

I’m short 15% in SPY as it broke at 205.50.

The next short level is a break of 203.90.

Enjoy your evening.

Warren

Head & Shoulders Still Points To Lower

**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.**

“If you want to have a better performance than the crowd, you must do things differently from the crowd.”  John Templeton

Another day with not too much going on as markets and stocks are not showing any trend at all yet.

AAPL saw a nice spike on news that Warren Buffet bought a $1 billion stake in the company.

He is usually into safer, steady stocks who don’t move fast often so that plays into my views that the stock has long since had it’s glory days.

I shorted some TSLA today but that’s all I’ve got for positions at the moment.

SPY May 17, 2016SPY had a nice day until weakness into the close as it continues to setup for a move lower.

The head and shoulders pattern is still valid and points to a move lower to 200.

Have a great night.

Warren

SPY Ready To Roll Lower

**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 may have to fight a battle more than once to win it.” –Margaret Thatcher

Poor action in stocks as earnings numbers continue to be weak.

Looks now as if the next move will be lower.

SPY May 16, 2016SPY looks to be set to break this head and shoulders top now which targets a move to 200.

I hope you had a great weekend.

Warren

Very Anemic Stocks 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.**

“Don’t let what you cannot do interfere with what you can do.” –John R. Wooden

Another choppy day as we go nowhere fast with earning nothing to write home about and markets seemingly on summer vacation already.

I’m back to an all cash position after being stopped out of FB for a tiny loss but if it tried to go again I may give it another shot.

SPY May 13, 2016SPY still looks to want to test the 210 resistance level very soon but from there I’m not sure if it can continue higher with earnings as poor as they’ve been this earnings season.

The monthly charts are not looking so hot at the moment but wilder things have happened.

Enjoy your evening and Friday.

Warren

SPY On The Move To 210

**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.**

“A man can be as great as he wants to be. If you believe in yourself and have the courage, the determination, the dedication, the competitive drive and if you are willing to sacrifice the little things in life and pay the price for the things that are worthwhile, it can be done.” –Vince Lombardi

The S&P gapped up nicely this morning and continued to show strength all day.

Many stocks are still foundering but AMZN and FB are moving well and I did take a starter position in FB.

Looks like I will be buying a few stocks this week after-all.

SPY May 11, 2016SPY is moving great and is on the way to 210 resistance now.

I have no idea if we can soon break into new all-time highs but I’ll be on board if we do.

Volume is weak but this move is good for a short-term trade.

Enjoy your evening.

Warren

Overnight Gold Gaps

**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.**

“Failure is the condiment that gives success its flavor.” –Truman Capote

A choppy day once again as we wait for the next direction.

Gold however, traded down-sharply in overseas trading while I was in a deep sleep.

I’m not seeing anything that tells me go to long or short yet but it’s looking more like the next trade will be on the short side.

Until I see some more setups I won’t write much or do too much work in the evenings.

SPY May 10, 2016SPY remains trapped between the 21 day and 50 day averages and there isn’t much more to say.

A close under the 205 area would point to a move lower while a close above 207.50 points to a move higher.

Enjoy your evening.

Warren