Listen, I’m not some doomsdayer, or person who tries to call the tops in the market. I take what the market gives me and as a result I have been long on this market for well over a year now, and hardly ever find a reason to short it.
But today is a bit of a game changer.
We break the 50-day moving average yesterday with the follow through today.
Then we break the long-term uptrend off of the November lows.
Which also coincides with a bearish wedge that has formed over the past few months.
So there is a lot to be bearish about – see for yourself:
Here’s the bearish technicals of the SPY:
Welcome to Swing Trading the Stock Market Podcast!
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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.
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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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