Swing Trading BOOT CAMP – Swing Trading Blog
Not so fast SHORT sellers!
After last weeks "bounce" in the market swing traders were waiting for the next opportunity to present itself to get SHORT once again.
The market showed signs of losing steam with an inside day chart pattern on Monday. Tuesday the trading volume picked up a bit as the market drifted a bit lower.
Wednesday (blue arrow on the chart above) was the day the changed the short term sentiment in the market.
That was the day that short term traders got triggers to SHORT once again only to see the market reverse to the upside and close near the high.
This reversal day price action showed that the BUYERS were back in control!
We are still in a DOWN trend but this latest move brings the major indices back up to their 50 day SMAs.
Will the drift higher continue or will the 50 day become the next area of resistance?
Next week we should know the answer.
There are plenty of strong stocks out there that should be on your Watch List.
$VMC, $V, $CREE, $FB, $MA and $LEG to name a few.
On the SHORT side the list is HUGE!
Be prepared for whatever the market throws your way!
Until next week…Good Trading to YOU!
Tags: SHORT SWING TRADING, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies
