This market is on a tear today, but by no means is it out of the woods.

For me, I want to see that 30-minute chart on the S&P 500 to improve drastically and actually put in a higher-high, which means the SPX would need to cross 1648 to make that happen. Until that happens, I’m going to remain somewhat skeptical of this market. 

But on another note, how similar does this market look to what we saw back on 4/15-4/22? Recent trading is mirroring it nearly perfectly. 

I’ve provided my short watch-list just in case this market suddenly decides to give in, that you will at least have a short list of possible trades that you can choose from. 

My favorites on the list are Synaptics (SYNA) which has clearly put in a top and on the verge of breaking below key support at $40. On Armstrong World Industries (AWI), if it can take out the major support level at $49.60, you’d have a major decrease in price with the descending triangle it is currently trading inside of. Finally, Onyx Pharmaceuticals (ONXX) with a confirmed head and shoulders pattern and a bounce back to key resistance level that allows for a potential entry for the next wave down. 

Here’s the rest of the Short Watch-List.

short watch-list for swing trading 

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