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

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

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

Cray Cray

**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.**

“Challenges are what make life interesting and overcoming them is what makes life meaningful.”   Joshua J. Marine

Action continues to be very fickle and so far tonight we’ve got AMZN off large while V is up a tad and MSFT up a few dollars all on earnings and GOOGL is reacting poorly to the AMZN numbers to throw another wrench in the spokes.

It’s a coin flip market and I avoid those so cash is where I am although I did try one short today.

CRAY has been a bit cray cray lately so I shorted at 37.80 when it looked set to come back to earth but it didn’t so I took a small loss and got out of my short at 38.30.

No big deal and it was a very small trade.

Take a week off and come back and see how things are going then would be the best advice, otherwise if you can’t sit on your hands this market will chop up your account

It may seem like a weeks vacation somewhere is expensive but much more than that can be taken from your account in the same amount of time and you’re brain will be done, or you could come back from the beach refreshed and relaxed and ready.

SPY January 29, 2016SPY continues to chop between the 190 area and 187.50.

A break either way can be traded and I’ll likely try it but in small to medium size in this very poor market.

With leading stocks giving poor numbers or acting poor on good numbers this remains a very dangerous market to play around in.

Have a nice evening.

Warren

Earnings Season Begins Monday

**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 can’t outplay them, outwork them.” ~Ben Hogan

Friday was pretty quiet after a strong Wednesday and Thursday and that is good but we’ve got higher to go and there shouldn’t be much more rest before we do.

Things are once again all clear for buying but the big question remains of will breakouts be sharp and short as they have been or will they be more sustainable allowing us to hold winners for some time and much larger gains.

Earnings season does kick off Monday as well and that will bring lots of volatility and opportunity for us but we’ve all got be be paying very close attention.

SPY January 12, 2015SPY is looking great here and shouldn’t see anymore downside than 203.80 so that is an area to look to get long.

There is some resistance at 207.50 still but this consolidation should be enough to power us past there and once again into new all-time highs.

Good stuff that is starting our 2015 off well.

Enjoy your evening and the great6 football game.

Warren