Swing Trading Blog – Swing Trading Boot Camp
Rally to NEW HIGHS!
After being closed for yet another Monday session the market once again GAPPED UP on Tuesday.
Swing Traders had to wonder if the "GAP UP and trade sideways" pattern would continue.
The rest of the week however brought about good news as the market actually traded higher and closed out the week at new multi month highs!
For the most part the sector action was also very bullish with a few sectors really taking the lead.
The Semiconductor ETF's ($SMH) rallied nicely as did the overall Technology ETF ($XLK).
These sectors provided some nice continuation trade setups in stocks that were on our Watchlist.
$ATMI continued to rally after a minor one day pullback last Friday.
$KLAC made a nice move to the up side after breaking out of its triple top resistance.
There were also plenty of other stocks making nice moves.
$WFM, $MWW, $AFL, $ADBE and $GS were a few more that made our list.
As we move into next week there are tons of stocks to watch. Some of these are setting up nicely for possible LONG trades if the market continues to show strength next week.
Some of those stocks are becoming a bit extended after 3 or 4 days up. Make sure you wait for your setup and don't chase stocks up in an attempt to catch the move.
Lets hope the market continues to advance after this last break out but as always be prepared for anything.
Until next week…Good Trading to YOU!
Tags: ETF Swing Trading, Sector ETF's, Swing Trading Blog, Swing Trading Price Action, Swing Trading Strategies
