Good start to the week. The bulls are certainly trying to run this market through the 50-day moving average.
So far it is providing some resistance for the bulls, and that means we’ll need to keep a close eye on things, to make sure we are ready to book gains, should another sell-off occurs again.
As for me, I think we will get through the 50-Day MA, but where the real problem lies is with the downward trend-line off of the January highs. We should see some kind of test get put in there in the coming days.
If the down trend breaks, then it is off to a test of the March highs, and then from there the all-time highs from January.
But it’s not.
I still suspect market choppiness and some sell-offs that will rattle traders.
In the swing-trading list of bullish stocks below, I’ve provided you with some of my best ideas. I am already long a number of them, but today there are tons more to play with. Be moderate in this market, don’t get too heavily long too fast. Let it be gradual.