Trending Higher

**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.**

“Every time you are tempted to react in the same old way, ask if you want to be a prisoner of the past or a pioneer of the future.” – Deepak Chopra

Another day, another all-time high.

Stocks continue to act great and are trending higher.

Stocks closed the week on a very strong note which is great to see.

While the daily closes matter more than intraday action, the weekly close is even more important and it was a great close to the week.

Speaking of great weekly closes, gold also closed the week nice and strong.

We’re firing on all cylinders so enjoy it while it lasts.

Lovely action on strong volume into weeks end for SPY.

No stopping this chart yet.

Enjoy your weekend.

Warren Bevan

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

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.**

“Everything you want is just outside your comfort zone.”  Robert Allen

We ended the slightly choppy week on a very positive note, which is jut what we want to see.

In bull markets we often see early day weakness but then strength into the close, as institutions do their buying.

This is doubly so when it comes to looking at weekly charts.

A strong close to the week is super positive.

The trend remains up.

A nice little shake and bake this week for SPY as it tested and held the breakout area nicely.

Now we’re setting up a little U pattern which is positive and gives us 230 as a buy area now.

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Enjoy your weekend.

Warren

Spectacular Fashion

**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.**

“People tend to abandon the good system they’ll follow in search of the perfect system that they will quit.”  Tim Ferris

Another solid day as charts continue to setup in spectacular fashion.

I’ve got my full load of stocks for the most part still.

I always hold positions until they tell me not to, and that is not being told to me.

Gold and silver continue to act strong but may see drying dry up once the Chinese New Year holiday begins on the 27th.

All in all, things continue to act great, so being in the right stocks and sitting is the way I’m playing this, until it changes.

January 11, 2017SPY continues to hold near highs but not accelerate higher yet.

Fine action as we continue to base and setup for continued strength.

Bases tend to last 6 to 8 weeks and we are now in week 5.

Earnings season looks set to coincide with when this base should breakout.

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Have a nice 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

Superb Skiing & Top Notch Market 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.**

“Those who are easily shocked should be shocked more often.”  Mae West

A nice strong start to the New Year after a quick shake and bake lower to end the year.

Markets and stocks looks strong, strong, strong.

I’m letting my positions ride after most of them have corrected, found support and are now looking to continue higher.

january-5-2017Great action from SPY who continues to look for new highs.

The trend remains up so enjoy life and let it ride.

I remain very heavily weighted in stocks and would like to keep it that way.

I’m off skiing for the week and enjoying the best snow I’ve had in years.

Unfortunately, the internet is painfully slow but managing positions from the phone always proves easy, if need be.

Enjoy your evening and the great market we are given right now.

Warren

Back To Work

**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.**

“Those who are easily shocked should be shocked more often.”  Mae West

A bit of a weak short week into the end of 2016 but let’s wait and see how stocks act as we begin the new trading year Tuesday.

Charts look fine for the most part but I’m not seeing a ton of new setups for the time being, so managing current positions is my focus.

Life has been busy but should finally slow down as we begin to turn our focus back to work and stocks.

january-3-2016SPY broke the horizontal channel Friday on increasing volume which isn’t great but it is holding the 21 day average so far.

Let’s see how the new year of trading begins.

We’ll either be all good, or back to all cash, and should know relatively early in the day.

I hope you enjoyed your holidays and are ready to get back into money making mode.

Warren