Technical Outlook:
- S&P 500 (SPX) yesterday managed to bounce following yesterday’s sell-off.
- SPX has a strong rising trendline that goes back to the February lows and will be tested at 2139.
- A lot of resistance overhead for the market between 2160 and 2190 on SPX.
- Volume on SPDRs S&P 500 (SPY) dropped off dramatically yesterday and came in well below recent averages.
- CBOE Market Volatility Index (VIX) dropped 4.7% yesterday down to 12.99. The VIX melt continues.
- Crude (/CL) rallied hard yesterday, rising 2.3%. Today it is looking at another strong open with a move above the August highs.
- The number of stocks trading above their 40-day moving average popped 16% yesterday to 47.7%
My Trades:
- Did not add any new positions yesterday.
- Did not close any positions yesterday.
- May add 1-2 new swing trades to the portfolio today.
- Currently 10% Long / 30% Short / 60% Cash
Chart for SPX:
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
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The percentage amount for your stop-losses and where to put them at when trading the stock market can be very difficult to determine. In this podcast episode, Ryan talks about times when it works using tight stop-losses versus very wide stop-losses and the tricks that you can use to narrow the stop-loss even further.
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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