Posts Tagged ‘XLE’

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

Sunday, May 22nd, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

$DIA - Swing Trading ETF

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.

$XLE- Swing Trading ETF

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.

$SLX - Swing Trading ETF

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…

$IYF - Swing Trading ETF

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!!!

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Swing Trading BLOG – Week in Review – May 13, 2011

Sunday, May 15th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

$DIA

After last weeks SELL OFF the market put in a LOW VOLUME bounce to start the week.

Wednesday SELLERS stepped back into the market and pushed the market a bit lower.

The sideways trading that followed to end the week lets us know that a struggle is underway.

Oil and Energy ETF's continued their move down but the angle of the SHORT TERM DOWNTREND line is a bit steep.

$XLE

The Steel sector ETF ($SLX) continued to show it's relative weakness and pushed to a NEW LOW for the year this week.

It's no surprise that stocks like $X, $AKS and $STLD offered nice SHORT trade setups this week.

$SLX - Swing Trading ETF's

On the flip side this week was the Retail ETF ($RTH) which broker out to NEW HIGHS this week.

The move up was on INCREASING VOLUME but ended the week "stalling" at the high as volume dropped.

$RTH - Swing Trading ETF's

Next week should be interesting for sure.

The major market indices put in a LOWER HIGH so lets see if a LOWER LOW is in order.

If the previous SWING LOW holds and VOLUME comes back into the market on the BUY side then look for confirmation on a break of the previous SWING HIGH.

Until next week…Good Trading to YOU!

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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.

SMH

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.

XLE

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!

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Swing Trading Week in Review – January 7, 2011

Sunday, January 9th, 2011

Swing Trading BLOG – Swing Trading BOOT CAMP

The new year is HERE!

SPY - ETF Swing Trading

On a positive note the market continued to rally to NEW HIGHS this week.

On a different note we are starting to see some signs that concern us moving into next week.

One of the biggest things we have noticed this past week is that the SELLERS are becoming much more aggressive at these levels.

This has been evident in many of of the individual stocks that we monitor each and every day.

Take a look at some stocks like ATMI, LRCX, and NVLS in the Semiconductor sector.

LRCX

The Retail stocks have also taken a hit this week.

Look at ANN, M, TIF and TGT (to name a few).

ANN

We also take notice of the fact that some of the recently strong sector ETF's have shown a bit of weakness as the overall market moved higher this week.

As expected the Retail ETF's (RTH) are fist on this list.

Gold (GLD) and the Gold Miners (GDX) also got whacked this week.

GDX

With the noticeable selling coming into some of the Semiconductor stocks we are anxious to see watch next week has in store for this sector ETF (SMH).

Some of the other sector ETF's are holding up very well and are worth watching next week.

The FInancials (XLF), Hombuilders (XHB), Broker/Dealers (IAI), Agriculture (DBA) and Energy (XLE) and Oil (OIH) are on this list.

XHB

The number of sectors on this list is evidence of the overall strength of this market BUT there are signs that are a bit concerning for us.

Next week should be a good indication of where we go from here.

Sooner of later a PULLBACK will be upon us.

With that in mind make sure you have a plan in place so you can benefit (in one way or another) when the PULLBACK comes.

Until next week…Good Trading to YOU!

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