Technical Outlook:
- S&P 500 (SPX) dropped for a third consecutive day yesterday. If the market sells off today, it would mark the first time since June 15th that SPX sold off four straight days.
- On the volume side, SPDRs S&P 500 (SPY) saw a third straight day of rising volume and came in at average levels.
- GDP came in at above expectations this morning (2.9% vs 2.5% expected). This increases the chances for a rate hike at the December FOMC Meeting.
- SPX tested the 20-day moving average but was rejected yesterday. As a result, a minor sell-off ensued and dropped through the 5 and 10-day moving averages.
- Key support rests at 2120 on SPX today, and ideally for the bears, if it can break 2114 and close below this level, it would market a major breakthrough for them.
- Otherwise, we just remain rangebound.
- CBOE Market Volatility Index (VIX) rose for a third straight day, closing for once, near the highs of the day. VIX closed 7.9% higher at 15.36.
- With a big earnings miss during the after hours by Amazon (AMZN), the Nasdaq (QQQ) is looking at a decent dip lower this morning.
- United States Oil Fund (USO) continues to sport a nasty double top pattern that indicates it could see a drop of as much as 10% in the coming weeks.
- The Russell Index (IWM) is in a clear breakdown at this point, following yesterday’s sell-off and is the weakest of all the indices at the moment.
My Trades:
- Did not add any new trades yesterday.
- Did not close out any trades yesterday.
- Will look to add 1-2 new swing-trades to the portfolio today.
- Currently 10% Long / 40% Short / 50% 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
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
In today's episode, I talk about tightening the risk on the trades and the benefits of taking a multi-pronged approach in doing so between profit taking and raising the stops. Also, I cover how how aggressive one should be in adding new swing trading positions and how many open positions that one should have at any given time.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
📈 START SWING-TRADING WITH ME! 📈
Click here to subscribe: https://shareplanner.com/tradingblock
— — — — — — — — —
💻 STOCK MARKET TRAINING COURSES 💻
Click here for all of my training courses: https://www.shareplanner.com/trading-academy
– The A-Z of the Self-Made Trader –https://www.shareplanner.com/the-a-z-of-the-self-made-trader
– The Winning Watch-List — https://www.shareplanner.com/winning-watchlist
– Patterns to Profits — https://www.shareplanner.com/patterns-to-profits
– Get 1-on-1 Coaching — https://www.shareplanner.com/coaching
— — — — — — — — —
❤️ SUBSCRIBE TO MY YOUTUBE CHANNEL 📺
Click here to subscribe: https://www.youtube.com/shareplanner?sub_confirmation=1
🎧 LISTEN TO MY PODCAST 🎵
Click here to listen to my podcast: https://open.spotify.com/show/5Nn7MhTB9HJSyQ0C6bMKXI
— — — — — — — — —
💰 FREE RESOURCES 💰
— — — — — — — — —
🛠 TOOLS OF THE TRADE 🛠
Software I use (TC2000): https://bit.ly/2HBdnBm
— — — — — — — — —
📱 FOLLOW SHAREPLANNER ON SOCIAL MEDIA 📱
*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.



