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Swing Trading Week In Review – August 24, 2012

Sunday, August 26th, 2012

Swing Trading Blog – Swing Trading Boot Camp

Traders got the much anticipated pullback that they have been waiting for this week.

The week started off the a lackluster Monday but Tuesday traders flipped to the SELL SIDE after pushing the market up in early morning trading.

After two more days of selling pressure the market finished the week with a nice up day on Friday.

The type of price action we saw in the market this week came as no surprise since we were trading back up in the area of the yearly highs we reached earlier this year.

Here is the weekly chart of the $DIA that we have posted for the past few weeks on our blog…

You can see from the chart above that the market has some significant potential resistance in this area.

This creates a bit of an issue for some traders.

Do you get or stay LONG knowing that resistance level is directly ahead? Or do you wait to see how the market reacts to this area and possibly miss the breakout?

Well if you follow us on our blog or newsletters you will know how we do it.

We simply trade our plan and never try to outguess the market.

We have learned after years of trading that the market is always right.

As cliche as that sounds… it's true!

We trade our setups as they happen and never don't take trades based on what we think MAY happen.

Could we look back after the fact and wish we had done differently? Of course but as they say hindsight in always 20/20.

We have stops in place and a sound money management strategy so we let the do there thing.

If we are wrong we simply take our loss and move on and reevaluate.

If we are it is a very similar almost robotic process.

We exit at our profit target and move on and contemplate our next move.

Simply put we have a plan and we stick to it no matter what.

That being said as we look through the charts for this week we see lots of trades to the LONG side.

Most sectors are still strong with Retail ($RTH) breaking out again on Friday.

Technology and Oil and Energy remain strong while the Homebuilders and Financials are on the move again.

The Silver and Gold sectors RIPPED to the UP side this week so keep an eye on these ETF's and stocks in this sector…

The market is likely to come out swinging Monday morning so be ready and have your plan in place.

Watch price action and volume for clues to where the market is headed next.

Until next week…Good Trading to YOU!

Tags: ETF Swing Trading, Swing Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Price Action, Swing Trading Strategies
Posted in ETF Swing Trading, Price Action Trading, Swing Trading Blog, Swing Trading Charts, Swing Trading Strategies, Trading Price Action and Volume | No Comments »

Swing Trading Week in Review – March 2, 2012

Friday, March 2nd, 2012

Swing Trading BLOG – Swing Trading Boot Camp

Going nowhere in a hurry!

Swing traders watched as the Dow Jones Industrial Average (DJIA) flirted with 13,000 again this week.

Disappointment set in though as the market failed to make a significant move to the up side.

The NASDAQ did a bit better by rallying up to new highs.

The individual sector again was mixed.

Energy ($XLE) and Oil ($OIH) pulled back this week after a nice rally.

The Retail ($RTH) and Financial ETF's are sitting at new highs while Real Estate ($IYR), Steel ($SLX) and the Semiconductors ($SMH) are well off their recent highs but still holding their 50 day SMA's.

The Gold ($GLD $GOLD $GDX) and Silver ($SLV) ETF's were a different story.

After showing signs of strength early in the week both sectors got hammered after "the Fed" comments on Wednesday.

Stocks were mixed as well this week.

There are plenty of rock star stocks out there.

$ADBE $WYNN $AAP $ORLY and the ever impressive $AAPL.

$WYNN
All in all this week was a bit frustrating as traders watched for a strong move that never came.

It is still a very bullish market but there are a few signs on slowing in some of the sectors.

Can this market find its legs again?

No one knows for sure but as always be prepared for whatever the market decides to do from here.

Until next week…Good Trading to You!

Tags: ETF Swing Trading, Swing Trading, Swing Trading Blog, Swing Trading Strategies
Posted in ETF Swing Trading, Price Action Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Stocks, Technical Analysis | No Comments »

Swing Trading BLOG – Week in Review February 10, 2012

Sunday, February 12th, 2012

Swing Trading BLOG – Swing Trading Boot Camp

The Rally continues but…

The market drifted higher this week extending the rally that started at the beginning of the year.

So where does the "but" come in?

Well Fridays price action left swing traders wondering if the market has reached its peak (at least for now).

Friday traders watched as the market GAPPED DOWN and sold off in the morning only to rally and close at its high.

The sector action was interesting as well. We watched as some of the strongest sectors either "stalled" or began to pullback even as the overall market pushed higher.

The ultra strong Homebuilders ETF ($XHB) traded sideways all week.

The Retail ETF ($RTH) did the same.

The Airlines ($FAA), Real Estate ($IYR) and Materials ETF's all started to retrace this week.

One sector to watch that outperformed the market this week was the Solar ETF ($TAN).

As far as individual names go there were some great moves and the charts still look great.

$NE, $HAR, $AKAM, $V, $VECO, and $WFM turned in a great week!

As we look at the swing trading charts we see a lot of stocks that are still looking very bullish.

Some of the best swing trading indicators are flashing signs of being "overbought" though.

The overall market does continue to show signs of being a bit extended and Fridays trading action leaves us wondering what next week will bring.

So what do swing traders do in a time like this?

Stay true to your plan.

You see we always have a plan…and so should you!

We know exactly what we will do if the market turns down to make a run back towards the 50 day SMA.

We also know what we will do if the market jumps out of the gate on Monday and rallies to new highs.

We have our plan in place well before the market opens each and every day.

Do you know exactly what you will when the market opens on Monday?

Have a plan in place BEFORE the market does whatever it is going to do.

Once it does simply take action based on the plan you have already laid out.

Not only is trading a lot less stressful when you do this it also helps take the emotion out of your trading decisions.

Until next week…Good Trading to YOU!

Tags: 50 Day SMA, ETF Swing Trading, Learn Swing Trading Strategies, Retail ETF, Sector ETF's, Swing Trading, Swing Trading Blog, XHB
Posted in ETF Swing Trading, ETF Trading, Price Action Trading, Sector ETF's, Swing Trading Blog, Swing Trading Chart Patterns | No Comments »

Swing Trading Week in Review – January 13, 2012

Friday, January 13th, 2012

Swing Trading Blog – Swing Trading Boot Camp

The sideways trading continues!

Swing Traders were a little excited Tuesday as the market GAPPED UP and broke out of the week long sideways trading range.

As the day progressed though the price action and volume painted a different picture. The low volume and close near the lows of the day did give us much conviction.

The rest of the week looked a lot like last week. Sideways trading and lack of follow through in the overall market.

Some individual stocks on the other hand looked much more impressive.

After breaking out of a longer term down channel $WLK broke out to a higher high on Monday.

Look at the last 5 days of volume. A pretty picture indeed!

$KMX made a nice move to the upside after a nice price and volume move on Tuesday.

The move takes $KMX to new multi month highs.

$ATMI (mentioned is last weeks BLOG POST) continued its UP move after breaking out of a nice "cup and handle" pattern on the daily chart.

The market remains strong and continues to hover near its high.

While its hard to look to the SHORT side with such apparent overall strength stay aware of the sectors that aren't really acting that well.

This will paint and very detailed picture for you of where the market sits and how each sector is acting.

Know each and every day which sectors and stocks are showing relative strength and which are showing weakness.

Doing so will keep your on the right side of the market and will also give you an idea of where to turn if the market reverses.

As always be prepared for anything and act accordingly when the market tell you to.

Until next week…good trading to YOU!

Tags: ETF Swing Trading, Sector ETF's, Swing Trading, Swing Trading Price Action, Swing Trading Volume
Posted in ETF Swing Trading, ETF Trading, Price Action Trading, Swing Trading Blog, Swing Trading Chart Patterns, Swing Trading Charts, Swing Trading Stocks, Trading Price Action and Volume | No Comments »