Yes the previous reversal on the SharePlanner Reversal Indicator, which was a bearish one, did come to fruition, but it was one of the weakest three week pullbacks I have ever seen.
The market barely gave up any ground, and over the course of the past three days, the bulls have managed to recover basically all of it. Coming up in June, there is a FOMC meeting where there is a good chance Yellen will raise rates again. Last time she did this the market was strong all the way up until she raised rates, and afterwards was when the market completely fell apart. I would not be surprised if a similar scenario unfolded yet again where we rally hard, get the bullish reversal on the SPRI, and then once the statement comes out and rates are raised, that we see another sell-off.
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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How does war impact the stock market and what are the potential risks and hazards that impact traders attempting to remain profitable in their swing trading? In this podcast episode, Ryan Mallory covers everything managing the volatility that comes with the headline risk, dealing with heightened levels of emotions, securing open profits, and market exposure to uncertainty in the stock market.
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