The markets shocked the talking heads world yesterday when it decided to rally off of news that the Fed would begin tapering. That’s why opinions of people who hold their thinking capacities in high esteem are dangerous thing when it comes to the stock market.
So trade what the market is showing you, and not the personal views that you may hold.
With that said, lets take a look at what the SharePlanner Reversal Indicator is trying to tell us.
First off, on the daily SPRI you have a reversal just underway. It has made a few attempts at this of late, but with help from the weekly, it should finally come to fruition.
On the weekly chart you have a bearish signal in place for November and all of December that is finally coming to an end and showing a strong possibility of a strong rally to take us into the new year.
Having both SPRI time frames matching up is key here and usually when I see the indicator giving us the most reliable direction for the market.
Welcome to Swing Trading the Stock Market Podcast!
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Commit these three rules to memory and to your trading:
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In this podcast episode, Ryan Mallory talks about the big losses that traders experience and what to do with them when the amount of the loss seems impossible to come back from.
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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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