Swing Trading Update 06.21.19
S&P 500 ($SPY)
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In the update last week I mentioned the "clue" (price action + volume) that the market gave as to what it may do next.
This week we watched as the market followed through on that clue.
And after a low volume, narrow trading day on Monday we rally the rest of the week and spike to a NEW HIGH in the market.
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DJIA ($DIA)
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Same pattern for the DJIA.
The tech heavy NASDAQ is still lagging behind at the point.
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SECTOR WATCH – $GLD $RTH
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As we watched the follow through to the UPSIDE this week we were on the lookout for stock and sectors showing relative strength to the market.
On our radar..
Homebuilders ($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.
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SUMMARY
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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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Tags: ETF Swing Trading, Sector ETF's, Swing Trading Blog, Swing Trading Price Action, Swing Trading Strategies
This entry was posted
on Thursday, June 27th, 2019 at 8:48 am and is filed under ETF Swing Trading, Price Action Trading, Swing Trading Blog, Swing Trading Charts, Swing Trading Technical Analysis.
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