The last two days have no doubt been huge, and it is aligning nearly perfectly with the Daily chart for the SharePlanner Reversal Indicator.
Here is the Daily SPRI:
On the weekly, there is still plenty to the downside, but after today’s trading results there is a very good chance, that you’ll see the weekly chart setting up for an early reversal – the likes of which we haven’t seen since February this year.
Here’s the Weekly SPRI:
On the whole, tread lightly in this market, don’t get too heavy to the long side and if a trade isn’t working in your favor, cut it loose and move on to the next trade. This market requires you to be nimble and flexible, and while the market is setting up for a nice end of year Santa Rally, in a moments notice, it could still reverse course and the gains from the last two days be long forgotten.
Welcome to Swing Trading the Stock Market Podcast!
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#1: Manage the RISK ALWAYS!
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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.
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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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