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Swing Trading Update 07.05.19

Thursday, July 11th, 2019

Swing Trading Blog Update 07.05.19

ETF $SPY - Swing Trading Blog

Even though it was a holiday shortened trading week we saw good continuation in the overall market this week.

The S&P traded to new all time highs on decent (but declining) volume.

Swing Trading Blog - ETF $DIA

The DJIA followed suite on a similar volume pattern.

SECTOR WATCH

Swing Trading ETF's - $RTH $KBESwing Trading ETF's - $RTH $KBE

With the overall market being so strong it's natural to see a bunch of strong sectors.

We have been highlighting a few on the newsletter so let's stick to those for now.

After a trading to a new high and retrace $RTH is still pushing higher.

Last week we mentioned the bank ETF's so this week we watched $KBEpull back after breaking out of consolidation. After an inside day on Wednesday it started to move higher again on Friday.

STOCKS 

Swing Trading Stocks $MCD

Swing Trading Stocks Blog

Again sticking with a few of the stocks that we have mentioned in previous newsletters we watched as both $MCD and $SBUX made new highs this week.

Also,  previously mentioned stocks $V, $MA, $TGT, $WMT, $DIS are all holding up nicely.

SUMMARY

The continuation we were looking for arrived.

New all-time highs in the market.

It's easy to be LONG here and make a case to stay that way until the market tells us otherwise. 

We have had a great move over the last few weeks and a move that brought us into new territory to end the week.

Is the market a bit extended here?

Probably. 

Will it pull back, giving us a chance to look for setups for the next move up?

Who knows.

We won't be chasing stocks UP at this point that's for sure.

Are you ready for whatever happens next?

Until next week…GOOD TRADING TO YOU!

 

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Swing Trading Update 06.21.19

Thursday, June 27th, 2019

Swing Trading Update 06.21.19

S&P 500 ($SPY)

Swing Trading $SPY


In the update last week I mentioned the "clue" (price action + volume) that the market gave as to what it may do next.

This week we watched as the market followed through on that clue.

And after a low volume, narrow trading day on Monday we rally the rest of the week and spike to a NEW HIGH in the market.

DJIA ($DIA)

Swing Trading $DIA


Same pattern for the DJIA.

The tech heavy NASDAQ is still lagging behind at the point.

SECTOR WATCH – $GLD $RTH

Retail Sector ETF

Gold Sector ETF


As we watched the follow through to the UPSIDE this week we were on the lookout for stock and sectors showing relative strength to the market.

On our radar..

Homebuilders ($XHB) are trading back near their HIGHS.

The Retail ETF ($RTH) which made NEW HIGHS this week.

The GOLD and SILVER ETF's also continue to be rockstars.

Stocks that we mentioned a few weeks back like $WMT, $SBUX, $V, $DIS are still in play.

SUMMARY


In two short weeks we have transitioned from a DOWN trending market to an UP trending one. 

The move was fast and left a lot of traders scratching their heads.

Hopefully you were prepared and had good candidates for both sides of the market.

As we look forward to trading this week we will again look for signs of "continuation". 

The Price action and volume as we trade near the HIGHS should definitely tell a story.

Until next week…GOOD TRADING TO YOU!





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Swing Trading Update 06.07.19

Tuesday, June 11th, 2019

Swing Trading Update

Well, that was an interesting week, wasn't it?

Basically, a FLAT trading day on Monday followed by 4 straight SOLID UP DAYS.

This weeks trading left a lot of traders frustrated…but should it have?

S&P 500 ($SPY)

Swing Trading $SPY

We took off like a rocket on Tuesday after trading down to a key level on Monday. 

This weeks move brought us right back up to the 50-day MA although it was on decreasing volume.

DJIA ($DIA)

Swing Trading $DIA

Same story here in the DJIA.

FLAT Monday and 4 days up right back to the 50-day MA.

$SBUX

Swing Trading $SBUX

There were some strong stocks like $SBUX on the move to the UPSIDE this week after showing relative strength to the overall market.

Other strong stocks bucking the trend included $V, $LLL, $WMT, $DIS, $CB and $MA to name a few.

SUMMARY

So should this week have frustrated so many traders?

Well, I guess that depends on your strategy.

If you were SHORT and you are a LONGER TERM SWING TRADER then the big retrace was probably an unwelcome one.

If you were SHORT and you are a SHORTER TERM SWING TRADER then you may have covered your SHORT positions (for a profit) during the last move down. Or maybe your TRAILING STOP got hit on the retrace. Not so bad.

If you were looking to get LONG and you were buying STRONG STOCKS (like $SBUX etc.) expecting a retrace in the market then you may have been ok.

If you were looking to get LONG and you were buying OVERSOLDstocks/ETF's for a "bounce" you were probably ok also.

So, in our eyes, there weren't too many reasons to be frustrated with this weeks trading.

The frustration just depends on your perspective (and strategy) for trading this week. 

What happens from here?

Time will tell but as always don't try to outguess the market.

Let your charts tell the story and stick to your strategy…if it's a sound one.

Until next week…GOOD TRADING TO YOU!

 

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Swing Trading Update 4.22.16

Sunday, April 24th, 2016

Swing Trading Update – April 22nd, 2016

Swing Trading Update - April 22nd, 2016After a 2 day stall to end the week last week the DJIA saw yet another move to the upside this week.

The S&P followed suit while the tech heavy NASDAQ did not.

With that being said there we of course some good swing trading opportunites in both stocks and ETF's.

Oil was the hot sector this week ($USO $OIH $XOP $XLE…)

Oil ETF's - Oil Sector ETF Charts

With the sector being in play there were some good trades in the stocks.

We dont need to look at all the charts ($XOM, $COP, $HAL, $APC, $APA, etc etc etc) since you basically could have traded anything in the sector.

The financial sector ($XLF) also put in a good week.

Swing Trading ETF - Financial ETF #XLF

$GS $AXP $JPM and others have all been hot and put in some pretty text book trade setups this week. 

Another rockstar sector this week was healthcare ($XLV)…

Swing Trading ETF's - Healthcare ETF $XLV

$UNH, $JNJ, $RMD made some nice moves in this secotor.

With the good comes the bad and some of the sectors did not play so nicely though this week.

The tech sector ($XLK) took a beating with a huge gap down on Friday.

Swing Trading ETF - $XLK

As to be expected the semis ($SMH) drifted lower as well.

Othe notable sectors were retail ($RTH), homebuilders ($XHB), utilities ($XLU) and consumer staples ($XLP).

Retail started off strong but fizzeled out towards the end of the week. 

A pullback to watch since it is still within the UP trend channel.

The homebuilders ($XHB) is an interesting one…

Swing Trading ETF's - $XHB Homebuilders

A 7 day sideways trading channel. Now this question is how do you trade it?

With $XLU and $XLP both sectors sold off from a nice lower high pattern and are now trading below their 50 day SMA's.

Sectors to watch if the overall market turns south?

Its a fun market to trade right now but as always have a game plan for whatever the market throws at you.

Until next week…good trading to YOU!

 

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