At the mid-point of the week and things so far are looking pretty good for the market. We had a nice healthy sell-off yesterday, that was quickly washed away by today’s rally. In all honesty, the market might have been better off without the hard rally today, and rather I would have been more excited to see a little more downward pressure in order that I might be able to grab some stocks on the cheap side. At this point, I would be thrilled with some consolidation, it just seems that making money in this market to the long-side is getting relatively easy and predictable, and when that occurs, usually there is a change in direction ahead.
As for my portfolio, the only change that I will be making is in DDM, the ProShares Ultra Dow30 ETF, where I will be raising my stop-loss to 43.47
Here are the NASDAQ and S&P Charts…
Welcome to Swing Trading the Stock Market Podcast!
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In today's episode, Ryan answers the questions of one listener ranging from his transition from paper trading to live trading, and swing trading to day trading. Also addressed is his approach to trading, specifically Fibonacci retracement levels and why Ryan prefers Pivot Points instead.
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