The SharePlanner Reversal Indicator is glaringly bearish.
On the daily chart the SPRI has the downtrend in full effect. However, the problem becomes the fact that we saw support kick in yesterday at the rising uptrend off of the lows from November of 2012. That is a significant trend-line that has seen support come in time and time again.
Here’s the Daily Chart:
On the Weekly SPRI the story is the same. Testing that long-term trend-line on the weekly SPX chart while the SPRI has a brand new bearish reversal confirmation.
Here’s the Weekly SPRI chart.
Something has to give – I can see a bounce higher from here in the short-term and then an ultimate resumption of the downtrend after that. Or perhaps this signal simply leads to more consolidation until it can wear off the bearish reversal indicator. Either way it clearly is not bullish.
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 today's episode, I explain whether it is a good idea or not to rapidly increase the size of your portfolio if you come across a sum of cash. A lot of traders will do this without ever recognizing the emotional toll it can have on you as a swing trader and the awful mistakes you can make in doing so.
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 💰
— — — — — — — — —
🛠 TOOLS OF THE TRADE 🛠
Software I use (TC2000): https://bit.ly/2HBdnBm
— — — — — — — — —
📱 FOLLOW SHAREPLANNER ON SOCIAL MEDIA 📱
*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
You Might Like
The Retail Trading Revolution: How Small Investors Are Reshaping the Stock Market
Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day
How to Trade a Bear Flag