Let ‘Em Ride

**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.**

“Persistence is a sure path to success with quality activities. Never, ever, ever, give up.” – Kekich Credo #75

More strength for stocks as they continue to act very, very well.

I’m still letting my stocks ride from the Brexit low, or Bro.

SPY ACIA AG AMZN FB GILD GOOGL NFLX and TSLA are still my positions but I may be starting to lock in gains in the not too distant future since I’m starting to see signs of blowoff tops coming, and then we may need 6 to 8 weeks of rest before we can setup for the next good move higher.

SPY July 21, 2016SPY is trying to break this bull flag now and continues to work well and properly.

I’ve got 10% from 202 and I’m looking at the 215 area for stops.

Have a nice night.

Warren

The Bounce Is Developing Nicely

**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.**

“Keep away from people who try to belittle your ambitions. Small people always do that, but the really great makes you feel that you, too, can become great.” – Mark Twain

Good action for stocks as we continue to look for higher prices into about mid-week if all goes well.

We’re back to neutral in terms of overbought and oversold so we have more to run in this bounce.

January 25, 2015SPY is breaking out nicely here with resistance levels overhead at 195, 197.50 then 200 and I’m looking at 197.50 and 200 as levels to lock in gains around mid-week I’m expected.

I’ve still got 10% into SPY at 185.77 and I’ll move stops up to the 189.70 and 188.80 areas now.

Enjoy the rest of your weekend and some great football today.

Warren

Strange Action But We’re Still Bouncing

**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.**

“Develop success from failures. Discouragement and failure are two of the surest stepping stones to success.” — Dale Carnegie

Another strong start to the day as this potential bounce takes shape but then we faded, then rallied into the close.

The close is the most important print of the day so it wasn’t a bad day in the end.

I am still watching very closely though since the action has been a bit mixed.

We’ve become accustomed to sharp hard rallies off lows and we aren’t seeing that so far this time.

So, on that theme, if we don’t soon see a strong bounce then chances are we will just chop sideways to work off this very oversold condition and I will be exiting my long positions since that type of move will just be a setup for a next leg lower.

So, I watch and react still when I see the need but for now, I remain long.

SPY January 13, 2015If we move above 185 shortly then we should be good for a bounce back up to the 200 to 202.50 or 205 levels, if not, I’ll be out and look for setups for the next leg lower.

I’ve still got a 10% weighting from 194.60 in the SPY ETF.

Have a great night.

Warren

V Bottom

**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.**

“Either you run the day, or the day runs you.”  Jim Rohn

A pretty quiet day in the markets today as we setup for a break higher now.

Stocks are acting great, at least the ones I’ve got, and more gains look to be not far off.

I did lock in a lot of my BIDU gains today as it backed off the 210 resistance area but I’ve still got a good sized position remaining.

All in all, things look great for higher prices for now.

SPY November 20, 2015Nice stuff from SPY as it has a sharp V bottom that is ready to move to the 212.50 resistance level.

We should breakout towards 212.50 Monday at the latest and then I’ll have to reassess the action at 212.50 and decide to either lock in gains in anticipation of another small correction or if all goes well, we will setup to breakout on very high volume and spark the next major rally in this ongoing bull market.

Enjoy your evening.

Warren

Moving Back To Highs

**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 journey of a thousand miles begins with a single step.”  Lao Tzu

Friday was pretty quiet as we hit the middle of summer, as should be expected.

Earnings season is starting to slowdown so we may see things really slow down in August but only time will tell.

Let’s hope for a nice slow month with lots of sunshine!

August 3, 2015SPY continues its trek to 213 and then we see if we see another move lower but that is the most likely outcome.

I hope you’re having a great weekend.

Warren

Stocks Remain Strong

**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.**

“Necessity is the mother of taking chances.”  Mark Twain

Quite a quiet Friday with select stocks rocking including SHAK that we bought not long ago down at $50 and it is one of our largest winners lately.

Markets still look great and stocks are also set for more upside and it doesn’t hurt to see AMZN and GOOGL ripping on earnings and taking the Nasdaq well higher into new high ground.

SPY April 27, 2015SPY is holding above the breakout level so far but it isn’t moving and certainly not on heavy volume.

The type of volume we saw Friday is akin to Christmas or other major holidays and I don’t know why that is but we need to see large volume here for this breakout to really get going.

I hope you’re enjoying your weekend.

Warren

A Day To Rest With Direction Still Up

**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 rest day as we move into quad witching Friday so who knows how they can go but we are still pointed higher and stocks are doing well in really the only sector to be in as I’ve talked about many times over the past couple years, bio and pharma.

SPY March 20, 2015SPY rested well at this resistance area of 210 and should move higher now either Friday or Monday to test 212.50 next.

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Have a wicked night.

Warren