Pre-market update (updated 8:30am eastern):
- European markets are trading 0.5% higher.
- Asian markets in a mixed range from -0.7% up to +0.4%
- US futures are trading moderately higher ahead of the bell
Economic reports due out (all times are eastern): Challenger Job-Cut Report (7:30am), Jobless Claims (8:30am), Factory Order (10am), EIA Natural Gas Report (10:30am)
Technical Outlook (SPX):
- We saw the third straight day of mild selling in the SPX.
- Over the last three days, the selling, has been light and without panic, which would signify more of a ‘breather’ for the markets than a legitimate change of winds for the market.
- At this point, uptrend support rests at 1343.
- SPX trading above all significant moving averages (10,20,50,200).
- Volume has seen a steady increase since Monday.
- Bull-flag from the past 3-days of trading has formed. But needs to bounce here, to validate it.
- Markets remain in short-term overbought levels as well as on the weekly.
- Very nice bull flag forming on the SPX 30-min chart.
- VIX is a huge concern as it continues to spike higher despite the market seeing a slight sell-off over the past 3 days, sitting just a shade below 19.
- Resistance barriers have, including the down-trend off of the 4/2 highs, been broken on Friday. There aren’t any major resistance barriers in the near term for the SPX to face. Minor resistance lies around 1402-6.
- If another sell-off were to ensue, watch for a break and close below 1329 for a new lower-low in the market.
- At this point, the goal for the bulls has to be to continue to trade higher and challenge the 1422 highs from 4/2 which are now well within reach.
- Solid support formed at the 50-day moving average.
- Of concern is the bearish crossover signal found in this week’s SharePlanner Reversal Indicator. Caution is warranted.
My Opinions & Trades:
- Shorted SONC yesterday at $9.74.
- Stopped out of WTW yesterday at $48.79 for a -4.5% loss.
- My portfolio tilts slightly bearish with 3 shorts and 2 longs.
- Remain long MDT and AMZN at $233.90. Short BRO at $25.65 and CRI at $50.76
Charts:

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 this podcast episode, Ryan talks about how he uses profit multiples for taking profits on his swing-trades, and how not everyone of your trades that are winners will be 2:1 or 3:1 multiples of the amount that you risked on the trade.
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 💰
My Website: https://shareplanner.com
— — — — — — — — —
🛠 TOOLS OF THE TRADE 🛠
Software I use (TC2000): https://bit.ly/2HBdnBm
— — — — — — — — —
📱 FOLLOW SHAREPLANNER ON SOCIAL MEDIA 📱
X: https://x.com/shareplanner
INSTAGRAM: https://instagram.com/shareplanner
FACEBOOK: https://facebook.com/shareplanner
STOCKTWITS: https://stocktwits.com/shareplanner
TikTok: https://tiktok.com/@shareplanner
*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
