Nice Gap But The Go Was A No Show

**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.**

“When I let go of what I am, I become what I might be.” – Lao Tzu

We saw a nice gap up to begin the day, as I mentioned I was looking for, but we never got the go part.

Most stocks and markets stalled after the nice gap open ahead of the Fed meeting Wednesday.

I tried a couple longs in GOOGL and BIDU early in the day and ended up selling out of both quickly, one for a small gain, one for a small loss, once stocks were showing me the go part of the gap and go was a no show.

It was worth a small try today but there was no point in sticking things out in the chop.

Tomorrow is the big day though and we should get some direction by the end of the day or Thursday.

SPY December 16, 2015SPY is still below the 21 and 50 day averages and in the end didn’t do much after the opening print today.

So, there isn’t much to say until tomorrow so enjoy a quiet evening!

Have a nice quiet night without much homework to do.

Warren

Wonderful Consolidation

**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.**

“Experience taught me a few things. One is to listen to your gut, no matter how good something sounds on paper. The second is that you’re generally better off sticking with what you know. And the third is that sometimes your best investments are the ones you don’t make.”  Donald Trump

Another good rest day as we’re now near flat in terms of overbought and oversold so we should soon see a move higher but a couple more days of consolidation would be great.

I had to exit JNPR after a failed breakout today for a tiny loss but my other positions remain looking good and are giving those who missed them a great chance to buy at support areas that are holding thus far.

SPY November 6, 2015SPY is holding well above 210 and below 212.50 building a bull flag so far.

Nothing at all worrying here and I still think we have entered a new buy the dip market.

Buy the dips and have a great Friday and weekend.

Warren

Great Action Before The Breakout

**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 all the economists were laid end to end, they’d never reach a conclusion.”  George Bernard Shaw

A bit of a quiet day today with markets not doing all that much and stocks were mixed.

Everyday can’t be strong but the action remains very good.

I’m heavy into stocks and into margin but I may be selling a couple positions that just aren’t working as well as the others soon but ideally, I’d love to hold over the winter in any strong positions I’ve got on.

SPY October 30, 2015SPY is near 210 and consolidating which is great to build up some strength for a breakout above 210 and then back into new high ground, something we haven’t seen since May, so it has indeed been a sell in May type of  year as I talked about at that time.

We didn’t do much in the choppy summer months and I closed down the real-time trading group since I don’t like to see people paying me when there is no need but it is open again now since stocks are moving and you can find out more at http://wizzentrading.com/?page_id=5614

Enjoy your evening.

Warren

AMZN WOW!!

**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.**

“For of all sad words of tongue or pen, The saddest are these ‘It might have been’” — John Greenleaf Whittie

Markets continue to correct a bit off resistance and that is great news.

Select stocks continue to hold up very well and setup for higher prices if markets can hold.

We’ve seen a few like AAPL and IBM weigh heavily on the indexes but as long as they don’t go lower, we should be fine.

This is still summertime so I’m not expecting a major breakout but we will get spurts of buys and then lock in those gains and take a couple weeks off and come back and do it all over again.

This type of action should continue until the fall.

SPY July 24, 2015SPY closed the day above the 210 support level which is quite positive.

So now we see if we can build a breakout pattern between 210 and 213, or if we break under 210 and move lower.

With the huge AMZN move tonight up to $573, tomorrow looks like it will be higher so 210 will hold well.

I’m in a few stocks but not heavy by any means but there are some great setups out there ready to go.

Swing trading for the summer looks to be on tap and that’s great.

Have a great evening, Friday and weekend.

Warren

Markets Holding But Not Breaking Out Yet

**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.**

“Improvement begins with I.”  Arnold H. Glasgow

A pretty quiet end to the week and month but we still look ready for upside very soon.

Let’s see how the first of the month begins but new money is coming into the market so we should see some nice moves right away now.

That said, we did see a decent and fast correction at the beginning of May so I have to be ready to be reducing or selling out of my positions if I spot that type of action.

June 1, 2015SPY looks like it wants to roll over here but it is holding above the 211 breakout level so that is positive and means I’m staying long still.

I just have to see how this action develops and play it as such but I’m heavy into stocks right now and sitting on some decent gains and I do not want to see those disappear.

Have a wonderful and restful weekend.

Warren

A Day Off

**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.**

“Improvement begins with I.”  Arnold H. Glasgow

Stocks took the day off today which is fine since they are holding up and great patterns are emerging more and more everyday now.

I remain heavy into stocks as we are set for a breakout higher soon, that said, I’ll be out quickly if selling beings.

All in all, there isn’t a lot to talk about tonight.

SPY May 29, 2015SPY is setting up well for higher.

We can’t fly everyday and the longer the base or setup, the stronger the eventual move usually is and that move should start soon.

Have a great evening, Friday and weekend.

Warren

Very Low Volume Rest

**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.**

“Cherish your visions and your dreams as they are the children of your soul; the blueprints of your ultimate achievements.”  Napoleon Hill

A very slow or dull day as they say, but ‘they’ sure aren’t always right, but they do say never short a dull market.

Volume pushing anything lower was very low and I wasn’t keen on selling much today, rather, holding and trying to let stocks work before we may see the usual end of week strength emerge.

I’d rather have seen the indexes close stronger, and they looked as they may before reversing back to close on lows.

It’s never great to close on lows but there is no conviction to this weakness at all yet.

That can change and I’ll be on it if need be.

SPY March 25, 2015Very, very light volume of the like we haven’t seen since Christmas.

This is quite positive.

When volume really dries up like this it tells me there just aren’t any sellers and the next move should be strongly higher.

I’d rather have seen SPY hold above 210 for sure but the chart is still quite positive.

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Have a nice evening.

Warren