What Will Trump Say

**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.**

“It had long since come to my attention that people of accomplishment rarely sat back and let things happen to them. They went out and happened to things.”  Leonardo da Vinci

Some volatility in the precious metals miners space today is telling me to be careful if you’re long gold or silver right now.

In general, markets are still pointing to higher, even though they actually closed a tad lower today.

Heaven forbid!

I think we’ve got more upside to come and futures may kick that off tonight on Trumps speech.

Our PCLN position from the $1,600 area on the cup and handle breakout rallied on earnings and closed well which is telling me the gap up should hold.

All in all, things remain positive and we may see tonight’s speech kick steel stocks back in gear.

Fingers crossed.

SPY is fine above 235.50 or so.

Very strong action.

Enjoy your evening and grab the rest of this letter!


Stocks Seem To Love Trump

**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.**

“And to all the little girls who are watching this, never doubt that you are valuable and powerful and deserving of every chance and opportunity in the world to pursue and achieve your own dreams.”  Hillary Clinton

Well, well.  Where to begin!

The above quote from the Clinton concession speech today is a good place to start, truer words were never spoken, unless she included little boys into that sentiment as well.

Well said Hillary, well said.

Markets absolutely tanked to limit lock down levels as Trump was emerging as the likely victor, then I nodded off, missing the chance to get into the futures market as they were showing strength.

Too bad, since it would have made this year extraordinary.

Now, it does appear that markets will continue higher but this wild action has me still in cash waiting for more reliable setups, who should begin to form over the next few days and perhaps even a few tomorrow.

I will be starting up my real-time service November 15th so no more trades on my public twitter account @iTraderz, but more details on that tomorrow.

november-10-2016Wild action from SPY that is not captured here since the overnight move lower was in the futures.

It was kind of the plan to miss the election move since it was going to be a coin flip but I should have bought some futures in the wee hours.

Let’s see if we can hold above 216 and setup to finally break the 218 area into new all-time highs.

This is positive, albeit wild, action.

Have a great night.

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