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Swing Trading BLOG – Week in Review – June 10, 2011

Sunday, June 12th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

And DOWN WE GO!

Inverse ETF's rally and the SHORTS come out in droves.

Traders watched the overall market continue its sell off this week.

After four days of sideways trading the sellers stepped in again on Friday and pushed the market down to new multi month lows.

Almost every sector on the map felt the pain.

Technology related ETF's continued to fall.

Real Estate and Financial ETF's got pummeled.

The Energy and Oil ETF's that were showing signs of strength last week are now not looking so strong.

If these sectors break down through the near term support levels they definitely have room to fall.

The market looks ripe to continue to move lower as the strongest stocks look to be "rolling over".

If you are looking to the SHORT side for trades try to find stocks or ETF's that are not yet extended to the downside.

If you are not comfortable with SELLING SHORT then you can always look to "get long" some Inverse ETF's.

As always be prepared for anything and act accordingly.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Inverse ETF, Sector ETF's, SHORT SWING TRADING, Swing Trading Blog, Swing Trading Price Action, Swing Trading Strategies
Posted in ETF Swing Trading, ETF Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts, Swing Trading Technical Analysis, Technical Analysis | No Comments »

Swing Trading BLOG – Week in Review – June 3, 2011

Sunday, June 5th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

The DOWN move continues!

After one day of trading above its 50 day SMA the DJIA sold off for the rest of the holiday shorted week.

The push lower takes the markets to a new six week low.

Most (not all) sectors followed suit as the sellers came out in force.

The Financials ($XLF) and the Homebuilders ($XHB) were hit hard.

Technology ($XLK) and more specifically the Semiconductors ($SMH) also had a rough week.

Retail ($RTH) was holding up but finally gave way to the selling this week as well.

The Energy ($XLE) and Oil ($OIH) ETF's actually held up rather well this week.

Who knows if this SHORT TERM relative will hold up but it is something to watch as we move forward from here.

The Agriculture ETF's ($DBA $MOO) also are showing some signs of strength.

The overall market is pretty near a SHORT TERM oversold level so keep that in mind as we go into next week.

Don't chase the market down and wait for your setups to develop.

Be prepared for whatever the market does from here and as always…Good Trading to YOU!

Tags: 50 Day SMA, DIA, ETF Swing Trading, Financial ETF, Retail ETF, Sector ETF's, Swing Trading Chart Patterns, Swing Trading Strategies, Swing Trading Volume
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Swing Trading BLOG – Week in Review – May 27, 2011

Monday, May 30th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

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.

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

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.

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…

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!

Tags: 50 Day SMA, DIA, ETF Swing Trading, OIH, Retail ETF, RTH, Sector ETF's, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Technical Analysis
Posted in ETF News, ETF Swing Trading, ETF Trading, Gold ETF's, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts, Swing Trading Technical Analysis | No Comments »

Swing Trading BLOG – Week in Review – May 20, 2011

Sunday, May 22nd, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

After putting a LOWER HIGH last week traders watched as the market followed with a LOWER LOW this week.

Tuesdays trading actually brought the overall market down to a new low for the month of May.

The SELL OFF pushed the market back closer to its 50 day SMA and right on top of the previous break out level we saw a month ago.

This SHORT TERM correction in the market actually gives us a nice DESCENDING TRIANGLE (see chart above) to trade it we choose to do so.

A follow up on the Sector ETF's is in order so here it goes.

As we mentioned in last weeks BLOG POST the Energy and Oil ETF's had a very "steep" trend line in place.

These "steep" angles are hard to maintain and often times you will need to adjust your lines after price breaks out of these fast lines.

The Steel sector ETF ($SLX) is a good example of a slight TREND LINE adjustment.

In the chart below you can see how after hitting the bottom of the longer term DOWN CHANNEL $SLX "bounced" out of the SHORT TERM channel.

This "bounce" actually took price out of the SHORT TERM channel BUT it was still under its previous Swing High.

Fridays trading action confirmed the next move lower so we were now able to slightly "adjust" our trend line (in blue) to gives us context for our new channel.

One sector that has put in a nice orderly DOWN TREND is the Financial sector ETF ($IYF).

No adjustment to this trend line…

As we move into next week we must admit that the warning signs are flashing for us.

The selling we saw on Friday is concerning to say the least but that being said the market is still holding (so far) above its 50 day SMA.

We are still trading both sides of the market and will continue to do so until the market decides where to go from here.

Be prepared for anything and have a plan in place and until next week…Good Trading to YOU!!!

Tags: ETF Swing Trading, IYF, Sector ETF's, Swing Trading, Swing Trading Blog, Swing Trading Strategies, Swing Trading Technical Analysis, XLE
Posted in ETF Swing Trading, ETF Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Technical Analysis | No Comments »