Warren Bevan | TalkMarkets | Page 4
Full Time Swing Trader/Technical Analyst
Contributor's Links: Wizzen Trading
Warren Bevan is a renowned trader who’s honed his craft over the years learning the styles and techniques of Jesse Livermore, William O’Neil and Dan Zanger and forming his own unique style. He focuses on making money and going hard when the right markets present themselves and during ...more

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Much Chop
There are many earnings releases which are seeing the companies trade lower with some exceptions such as AMZN and GOOGL showing very strong initial strength but they did close near their respective lows of the day which isn’t so hot.
Tides Turning
After a hefty overnight gap we seem to now be on the downturn for markets, at least according to the SPY chart. QQQ and IWM are strong but have gaps that may well need filling before the next major leg higher.
Bouncing Off Support
Stocks held support areas and are moving up. We’re not breaking out, just consolidating in most cases, so more time is needed but things are holding and shaping up for more strength in the weeks to come.
Strong Bonds & Weak GS
Stocks aren’t acting great on earnings so far and charts are looking for at least more pause in many cases, or a further fall.
Miners, Miners, Miners
Weakness seems to be setting in once again with miners & precious metals about the only exception. That said, we may well rip higher Monday.
Precious Metals Are Popping
There are select places to be, right now, gold and silver miners, but there aren’t a lot of stocks trending for the time being.
Trendless
This market just can’t decide on a trend, and that’s fine. Consolidation is great after a nice run higher as we’ve seen this year. The metals were acting just great to kick off Friday but closed weak which is a pity.
SPY ETF: Just Strong
Futures were weak overnight to confirm this but then we saw nice strength today in the end. This market is just strong and that’s all there is to it.
Weak Start, Strong Finish
April tends to be a strong month in stocks and is shaping up that way so far so I’m trying to take advantage of the strength.
Leaders Lead
Markets took the week to move back up off lows and are now setup to break higher anytime with the Nasdaq leading which is always great. Many stocks took a little break and have small lows in place with buy levels ready to go.
Grinding Higher
SPY is acting fine and the next real breakout is the downtrend line at 137.50.
I Just Don’t Know
I don’t really know what’s going on here to be honest. I thought we’d see a period of consolidation, and we are, but I thought I’d be able to grab a few shorts during this time but it‘s a no go so far.
Bear Flags
We continue to see weakness and that’s fine. When we do see a move straight up and see stocks making extreme moves we will know the end of the bull market is in sight but that day is not today.
Fickle Bounce
A bit of strength the past couple of days but after such a heavy volume crack lower Tuesday, more consolidation is needed.
Sold It All
Well that wasn’t too fun a day, but not too bad either if you cashed out, as I did. Unless you are shorting stocks, it’s times like these that you should take off and enjoy some life and spend some of the money we’ve just made.
No Reason To Be Bearish
A quiet Friday as many traders turned in their computers for taps and green beer. We remain in an uptrend, and will until we don’t. No reason to be bearish at all here.
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