Bounce Still Looks Intact

**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.**

“The main thing is to keep the main thing the main thing.”  Steven Covey

I will be away this weekend and not back until Monday so there will not be a weekend letter, nor a Monday evening letter.

Markets didn’t do much today but the bounce still should have a bit more left in it.

I’m still not seeing many great setups as the summer chop continues.

I’m taking a long weekend to enjoy some great company and music.

SPY August 14, 2015SPY held 208 where my stops are but can’t yet best the moving average cluster at 209.

I’d like to sell at 211 but stops are in place.

I’ve got 10% from 206.

For you non-subscribers (and I don’t know why you all don’t give me a try!), that means 10% of my 100%, but, using full margin I can use 200% so it’s really a 5% weighting.

Have a great weekend.

Warren

Big Bounce Sets Us Up For Quick Trade

**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.**

“The good life is a process, not a state of being. It is a direction, not a destination.”  Carl Rogers

A very weak gap down to start the day once again but then we saw a massive move offthe lows and 200 day moving average which was a great entry  point for a trade in SPY.

I looked around hard this afternoon for some bounce plays but I didn’t find as many as I’d expected, but I am back in AAPL from 114 now and I’d like to hold it for the long-term, if it allows me.

I also bought some ADXS at 16 and I’ll use tight stops.

SPY August 13, 2015SPY bounced well so I bought 10% in at 206 and I’d like to sell at 211 at weeks end.

The summer continues to be mostly chop with the odd easy trading opportunity that comes along like SPY today.

I am not looking to hold it past the end of the week and the way things have been going it could very well gap lower to open tomorrow and have me stopped out.

Have a nice night.

Warren

Gap Off Lows

**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.**

“Stay committed to your decisions, but stay flexible in your approach.”  Anthony Robbins

A strong start to the week that began with a big gap open so I didn’t take any trades today.

I’ve only got some AAPL from the 115 area and I’m looking to hold it for a long-term hold, if it allows.

The markets continue to chop around this summer in great action and bases continue to form but there aren’t many good ones out there right now.

SPY August 11, 2015SPY had a large day on low volume so it’s nothing to get too excited about.

Resistance sits at 211 still and above, the 213 area.

Support is 209 and 208.

Have a wonderful evening.

Warren