IWM Follows

**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.**

“The man who does more than he is paid for will soon be paid for more than he does.” – Napolean Hill

More great action this very stormy day in my parts, which saw IWM definitively, for now, breakout of the nice long flat channel it’s been working on.

With SPY IWM and QQQ all breaking nicely higher out of bases I don’t much other than upwards action coming our way, still.

Stay with the trend.

The breakout is holding and accelerating, leaving shorts holding the bag.

Lower volume on this breakout isn’t worrying at this time.

The trend remains up.

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Have a nice night.

Warren

Lotta Bears

**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.**

“Life is either a daring adventure or nothing at all.”  Helen Keller

A solid end to a textbook week.

The action is near perfect lately in terms of what you want to see in a bull market.

I could give stats and talk on and on, but why?

The trend is your friend.

Nothing wrong with this chart at all, although many continue to call for lower and point to lacking volume as the catalyst.

Time will tell but the more bears around the better I feel.

It’ll be when everyones bullish I get worried.

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Enjoy your weekend.

Warren

Super Duper

**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.**

“In order for art to imitate life, you have to have a life.”  Whitney Cummings

Great action and that’s that.

The bull market is strong and is showing no sign of stopping yet so buying the odd little dip remains the only strategy.

Ride the trend while we are lucky enough to have it.

A nice breakout for SPY.

Nothing wrong with this chart at all.

Some may point to a lack of volume, but beggars can’t be choosers and they’ve probably missed much, or all of this move, and have likely been losing money being short.

We may see this strength run all the way to may, but maybe not so, let’s wait and see and stay heavily long.

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Enjoy your evening.

Warren

#MicroDip

**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.**

“People don’t value things that don’t have value.” – Jon Acuff

Up, up we go.

Stocks continue to act great with the near lone exception of steel stocks who’ve reported solid earnings, but are reacting to a negative note out on them which looks to me to be just banter for the big boys to buy at cheaper prices.

The steel stocks should to quite well in the years to come.

The Dow finally crossed the 20k mark and closed above it as the charts said it would.

Moving above such a number that weighs to heavily on the mentality of stocks is great news.

Large round numbers such as 100 or 1k usually are cause for pause, and that’s what we saw with the Dow.

Some rest at resistance to build up the strength, and now the break for it above said resistance.

Buy the micro-dips!

Nice stuff from SPY as it breaks out on better up volume than down.

I’ll be on the road and skiing this weekend but they assure me of faster internet this go round so fingers crossed I can get some writing done on the weekend.

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Warren

Back On Track

**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.**

“Over my 50 years in business I have learned that if I rise early I can achieve so much more in a day, and therefore in life.” – Richard Branson

The inauguration came and went, followed by massive marches and demonstration against the new President, but stocks continue to hold well.

If they can’t fall today, then when will they?

I don’t see any reason why we won’t see this bull market continue so buying dips is the strategy to follow, in the best stocks of course.

The best markets are when we see early weakness followed by strength into the close, and we are seeing that.

My apologies for not getting a precious metals letter, nor blog, nor Trade Ideas out on the weekend.

I felt it coming Friday and by Saturday the flu was strong.

Sunday wasn’t much better but after a weekend of rest and taking care, I’m just heavily stuffed up and back to near normal.

It amazes me every single time just how debilitating and achy it is.

No fun!

Nothing wrong with this SPY chart who’s holding the 21 day average and uptrend line while looking set for more upside with a reverse head and shoulders pattern pretty clear now.

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Have a great 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

The Rally Picks Up Again

**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.**

“Decide what you want and act as if it were impossible to fail.” – Brian Tracy

Everything is still clicking.

Markets are great, especially the Nasdaq chart.

Stocks are a rockin’, so don’t come a knocking.

Several cup and handles are ready to move while some fast, fast stocks have put in lows and look ready to run an easy 10%, and a few 20%!

Steel stocks have corrected on time and are setting up for more while metals and miners look like they’ve got further to fall.

Things look great and we are not overbought at all, so Merry Christmas to all!

There are 8 nice, new, sweet & ready buy points in tonights letter.

december-21-2016SPY is breaking out of this wedge pattern, which usually means higher.

Good stuff.

Have a wonderful evening.

Warren