Posts Tagged ‘RTH’

Swing Trading BLOG – Week in Review – May 27, 2011

Monday, May 30th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

DIA - Swing Trading ETF

The BIG GAP DOWN we saw on Monday extended the month long correction we have seen in the overall market.

The market is now hoovering near it's 50 day SMA as we saw a bit of a rebound by weeks end.

As we look over our sector ETF LIST it is a mixed bag.

The Retail ETF ($RTH) has pulled back off of it recent high and is still trading above its 50 day SMA.

$RTH - Swing Trading ETF

The Real Estate ETF ($IYR) is equally as strong in the short term.

$IYR - Swing Trading ETF

The oversold  Steel, Energy, and Oil ETF's put in a retrace back towards their 50 day SMA's.

The Gold ETF ($GLD) is starting to shine again so make sure this sector is on your list.

$GLD - Swing Trading ETF

So now that we are back trading near the 50 day SMA where does the market go from here?

Do we continue the short term DOWN TREND?

Do we chop around a bit while the buyers and sellers fight it out?

No one knows for sure but for now we continue to trade both sides on the market.

One stock that we are watching to see if it transitions from weak to strong?

Take a look at $CREE…

$CREE - Swing Trading

Keep both strong stocks ($ELN, $CTXS, $INFA, $ANF, etc) and weak ones ($SOHU, $ADSK, $HOG, $DOW) on your list and be prepared for whichever way the market goes from here.

Until next week…Good Trading to YOU!

Swing Trading BLOG – Week in Review – May 13, 2011

Sunday, May 15th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

$DIA

After last weeks SELL OFF the market put in a LOW VOLUME bounce to start the week.

Wednesday SELLERS stepped back into the market and pushed the market a bit lower.

The sideways trading that followed to end the week lets us know that a struggle is underway.

Oil and Energy ETF's continued their move down but the angle of the SHORT TERM DOWNTREND line is a bit steep.

$XLE

The Steel sector ETF ($SLX) continued to show it's relative weakness and pushed to a NEW LOW for the year this week.

It's no surprise that stocks like $X, $AKS and $STLD offered nice SHORT trade setups this week.

$SLX - Swing Trading ETF's

On the flip side this week was the Retail ETF ($RTH) which broker out to NEW HIGHS this week.

The move up was on INCREASING VOLUME but ended the week "stalling" at the high as volume dropped.

$RTH - Swing Trading ETF's

Next week should be interesting for sure.

The major market indices put in a LOWER HIGH so lets see if a LOWER LOW is in order.

If the previous SWING LOW holds and VOLUME comes back into the market on the BUY side then look for confirmation on a break of the previous SWING HIGH.

Until next week…Good Trading to YOU!

Swing Trading Week in Review – October 15, 2010

Sunday, October 17th, 2010

The rally continues! (well kinda)

The major indices finished UP yet again this week.

SPY

Although we closed the week on a positive note the move itself was less than spectacular.

It was more like a sideways Monday, nice day of trading Tuesday then a GAP UP and trade sideways to close the week.

Now don't get me wrong…We aren't complaining!

The very BULLISH price action we are seeing is a nice change of pace from the last few months of the "stop, chop, and reverse" type trading that we were seeing.

As a matter of fact this week we saw a lot of the strong stocks on our list continue to move strongly to the upside.

AAPL and AMZN are continue to defy gravity as both stocks ripped to NEW HIGHS this week.

AAPL

CF and AGU also continued to rally after last Fridays breakout.

RIG and DO had a nice week as well as the Oil Services and Energy sectors remain strong.

DO

There are also a lot of strong stocks on our list that used this week to digest some of their recent gains.

AVP, CCJ, MMR, JWN, DE, STJ and DOW are a few names that are on this list.

DOW

This is a good sign and should give us very nice trade setups in the days to come.

The sector action was mixed again this week.

The Financials (XLF IYF) still cannot find any legs and actually sold off pretty hard to close the week.

IYF

Retail (RTH) is still trading sideways but Real Estate (IYR) finally got a little lift this week.

One sector that did finally make its move this week was the Technology sector.

After last weeks consolidation XLK finally made its move higher closing the week a new multi month highs.

XLK

As expected the Tech heavy Nasdaq got a lift this week as well.

The QQQQ gets our vote for "Index of the Week" based on its great chart.

QQQQ

As the bull marches on we expect to see some follow through in the days to come.

Be patient and wait for your trades to set up.

The market is in a VERY BULLISH phase right now but that does not mean that decent pullback is out of the question.

Be prepared for anything and trade your plan accordingly.

Until next week…Good Trading to YOU!

P.S. – Our last strategy class of the year will be our PVT Trading Tactics class on October 30th. If you are interested in learning more about trading with trend lines, volume, and price action then don't forget to sign up now!

Swing Trading Week in Review – September 24, 2010

Sunday, September 26th, 2010

Swing Trading BLOG – Swing Trading BOOT CAMP

Well we FINALLY got the directional move in the market that everyone has been waiting waiting for.

The BREAKOUT we saw on Monday was quickly followed by a 3 day shallow pullback which had some traders thinking the market was up to it's same old tricks.

SPY

With the way some of the individual sector's were acting we were actually thinking the same thing.

After holding up nicely for so long the Real Estate sector ETF (IYR) broke out with the overall market on Monday.

For the 3 days following the BREAKOUT sellers aggressively came in and drove this ETF well below the level of last week's consolidation.

Here is the chart…

IYR

You can see how this BREAKOUT failed and stopped us out (and a lot of other traders I would assume) as it retraces all the way back to it's 50 period SMA.

A swallow pullback in lines with the overall market was expected from such a strong ETF so this type of price action was not only frustrating but concerning as well.

The Energy sector ETF (XLE) had similar price action after giving us a LONG signal on Monday.

XLE

The retrace that followed created an "equal bottom" and came very close to our initial STOP LOSS level.

Friday XLE continued it's move up as the overall market BROKE OUT again.

The Retail sector ETF (RTH) continues to be the rock star!

RTH

Even after being short term OVERBOUGHT we saw RTH break to the UPSIDE Monday.

RTH then created a nice swallow, almost sideways consolidation during the 3 days that the overall market pulled back.

Friday the strength in this sector continued as RTH gapped up and traded through the $94-$96 level we mentioned last week.

One sector in transition this week were the Semiconductor's.

SMH

The SMH has been a real laggard but this week we saw buyers step in a finally bring this ETF back above it's 50 day SMA.

Although CREE and SNDK did result in new SHORT trades for us early in the week overall this sector seems to have found some new strength.

KLAC and NVDA stand out so we will watch some of the other stocks in this sector as we move into trading next week.

Friday was one of those days that there were so many trades that were triggering that it was hard to keep up!

We saw a ton of stocks BREAKING OUT and some stocks that just continue to RIP to the upside without even taking a breather.

Amazon (AMZN) opened this month at $126 and has gone straight up since then!

No retrace, no pullback just a parabolic RIP up to (so far) $160!!!

AMZN

Apple (AAPL) has basically done the same thing by going from the $240's straight up to close above $292 on Friday!

AAPL

Some of the BREAKOUT stocks our list included AGU, MMR, CCJ, INFA, HAL, SMG, WYN, NTAP, QCOM, CMI, EQIX and our recent money machine SOHU.

Not our entire list but a good list of stocks to watch as we move forward the next few weeks.

There were also a TON (way too many to list here) of non-breakout LONG trade setups last week.

This is a good sign of overall strength in the market and much better than just one or two sectors leading the way.

All in all the market is looking stronger and stronger but as always FOLLOW THROUGH will be the key.

Although there are a few stocks on our list that look weak it is hard to make a case for getting SHORT in light of the recent strength the market has shown us.

That being said we will continue to do what we do each day and prepare accordingly for each and every outcome that the market can present us.

Doing so allows us to react accordingly (and hopefully profitably) when the market decides what to do next.

Until next week…Good Trading to YOU!

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