Swing Trading BLOG – Swing Trading BOOT CAMP
And DOWN we go!!!
After several weeks of showing signs of weakness the overall market has finally pushed lower.
Last weeks sell off brought the market down to short term oversold levels by mid week so the bounce we saw on Thursday and Friday came as no surprise.
With the overall market taking a hit this week it was interesting to note how some sectors and stocks were actually holding up despite the selling.
The Oil ($USO $OIH) and Energy ($XLE) sectors are still trading above their 50 day SMA's.
These sectors are still relatively strong but if the market selling continues it could bring these sectors right along with it.
Technology ($XLK) took a hit this week and the Semiconductors ($SMH) continued to push lower after a slight "stall".
One sector on our radar is the Agriculture sector ($DBA $MOO).
After a hard SELL OFF this sector has retraced back to just under the 50 day SMA.
Watch to see how this ETF and the stocks in this sector follow through as they may just be setting up some nice SHORT trades.
We have a TON of stocks on our Watch List as we move into next week.
Until then…Good Trading to YOU!
Tags: ETF Swing Trading, Sector ETF's, SHORT SWING TRADING, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies, Swing Trading Volume
