IYF | Swing Trading Boot Camp

Posts Tagged ‘IYF’

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 »

Swing Trading Week in Review – January 14, 2011

Sunday, January 16th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

And UP we go!!! (Again!)

SPY
After a week of increased selling last week we watched as the market rallied (again) to NEW HIGHS!

In last weeks BLOG POST we told you that we were concerned coming into this week because of the selling we witnessed last week.

One sector that we mentioned was the Semiconductor sector ($SMH).

Last week a few stocks in this sector had some BIG TIME selling going on.

$LRCX, $ATMI, and $NVLS we the names that we mentioned.

As we came into this week we were watching to see how these stocks and the Semiconductor ETF were going to trade.

Monday was a good indication that this sector was starting to move higher again.

After showing a bit of weakness last week this new move to the UP side could be merely a "retrace" after the move down.

When Tuesday came around and we watched as the volume increased to push most of these stocks (and the ETF) higher we figured the sector had found its legs once again.

That being said we still were NOT looking to take any trades in these specific stocks due to their weakness last week.

The were plenty of STRONGER sectors for us to watch so we simply took notice of the change in sentiment in this sector and will watch for follow through next week.

The sectors that we mentioned last week that were "holding up well and worth watching" all turned in a nice week.

The FInancials (XLF), Hombuilders (XHB), Broker/Dealers (IAI), Agriculture (DBA) and Energy (XLE) and Oil (OIH) provided us plenty of opportunity this week.

As we enter into next week we are once again in FULL RALLY mode.

Our plan (as always) is to stick with the strong sectors and avoid the weak ones.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Financial ETF, IYF, OIH, Retail ETF, Sector ETF's, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Volume, Trading Volume, XLE
Posted in ETF Swing Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts, Technical Analysis | No Comments »

Swing Trading Week in Review – April 30, 2010

Saturday, May 1st, 2010

After making NEW YEARLY HIGHS on Monday the market finished down almost 1.8% this week.

Sellers came out in force on Tuesday but the market quickly rebounded Wednesday and Thursday.

The low volume "rebound" came to end on Friday as sellers stepped in again creating a sell off that drove the market down right until the closing bell.

As far as individual sectors go, the Financial ETF's (XLF, IAI, IYF), all made another move lower this week.

We have been watching this sector closely since the negative news came out about Goldman Sachs.

Last week we noticed, and posted to our blog, that the Financial ETF's were not showing much strength as the market made its move up on Thursday and Friday.

The follow through to the down side started on Monday allowing us go LONG the Inverse Financial ETF (FAZ) for a nice short term swing trade.

After hitting resistance at the short term double top FAZ pulled back a bit and continued its UP move on Friday.

Another sector we have been watching closely is the Steel sector.

We began to notice the Steel ETF (SLX) was possibly running out of steam during the market move to new highs on April 14th and 15th.

SLX never made it to new highs as the market rallied and actually begin to sell off as the market made its new high on the 15th.

The weakness continued last week and as the market again rallied to NEW HIGHS by Friday, SLX made an unimpressive bounce off of the 50 Day SMA.

When the sellers stepped in on Tuesday this week SLX sold off right out of the gate and never looked back.

The "Gap Down and Go" as we call it created a "lower high" and was a good opportunity for a SHORT Swing Trade in this sector.

So what do we do going into next week?

With the market putting in its first significant "lower high" this week we will continue to look for signs of follow through to the down side.

As always though we will continue to look for opportunities on both the LONG and SHORT side of the market just in case the market finds its legs again and makes a run back towards the highs.

Just remember that being prepared for ANYTHING and EVERYTHING increases your chances of trading success.

Until next week…Good trading to YOU!

Tags: ETF Swing Trading, Financial ETF, GS, IAI, IYF, Sector ETF's, SLX, Steel ETF, Swing Trading, Swing Trading Blog, Swing Trading Price Action, XLF
Posted in ETF Swing Trading, ETF Trading, Stock Market Update, Swing Trading, Swing Trading Blog, Swing Trading Charts | No Comments »

Swing Trading Week in Review – March 12, 2010

Friday, March 12th, 2010

What a GREAT week for swing traders!

The RALLY continues as the NASDAQ, S&P 500 and several sectors race ahead to NEW HIGHS for the year!

If you listen to some of the talking heads on T.V. you hear that the trading volume for this last up move was very LOW so they remain weary of the the upside potential in the weeks to come.

Now although the "low trading volume" in the broad market MAY be a concern moving forward some of the individual stocks showing great price action and volume patterns for us swing traders!

And despite the DOW's lackluster performance there were stocks all over the place making HUGE upside moves!

Apple (AAPL) closed for the week at its ALL TIME HIGH!

Research in Motion (RIMM) also had a great week, and after breaking through the $72 level it rallied to the upside and closed UP by almost 10% this week!

PCAR and LULU we also rock stars this week!

Subscribers to our Swing Trading Newsletters were alerted to numerous BUY set ups this week and a bunch turned out very nicely (if we do say so ourselves)!

CAL, WYNN, RIMM, and WYN all offered great swing trade opportunities!

One sector that really took off was the Financial Sector.

Take a look at XLF, IYF, FAS and well as some of the individual names like GS, C, and MET.

The banking sector finished UP 2.5% this week, outpacing the the S&P by more than 2 to 1.

The RETAIL (RTH) and REAL ESTATE ( IYR) sectors also continued their impressive rally with both sectors closing at their highest point of the year as well.

SPG, KIM, O and DRE continued their runs after showing great chart patterns for us last Friday.

Oil (OIH), Energy (XLE) and the semiconductors (SMH) all basically sat this last rally out.

So will these sectors play catch up or will they sell off when the market finally takes a break and pulls back a bit?

Only time will tell but for now we will continue to focus on the sectors and stocks that are showing tremendous relative strength.

Until next week…Good Trading to YOU!

Tags: AAPL, Apple, CAL, DIA, DRE, ETF Swing Trading, FAS, Financial ETF, Goldman Sachs, GS, IYF, IYR, KIM, LULU, MET, O, OIH, PCAR, Research in Motion, Retail ETF, RIMM, RTH, Sector ETF's, SMH, SPG, Stock Market Update, stock trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Trading Volume, WYN, WYNN, XHB, XLE, XLF
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