Technical Outlook:
- SPX sported a nice rally in the final 45 minutes of trading to pop the market 20 points more into the close. Strong day on the charts.
- However, SPX needs to get above 1993 to establish a higher-high and and a new uptrend is in place.
- VIX dropped 17% down to 26.09. The VIX is setting up for a bigger sell off in the coming days.
- T2108 popped 27% up to 15.2%
- Right now China is on holiday, so it is difficult to say whether this bounce is simply because of China not having to trade right now.
- SPY volume was very average.
- Inverse head and shoulders pattern confirmed on SPX 30 minute chart.
- Trade nimble, be careful about holding positions overnight, because the volatility is still at extreme levels and much of the daily moves are happening before the market ever opens.
My Trades:
- Sold SDS yesterday for a 3.3% gain.
- Covered QQQ yesterday for a 0.6% loss.
- Covered AMZN yesterday for a 1.5% loss.
- Did not add any additional positions yesterday.
- 100% Cash
- Join me each day for all my real-time trades and alerts in the SharePlanner Splash Zone
Chart for SPX:
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.
The percentage amount for your stop-losses and where to put them at when trading the stock market can be very difficult to determine. In this podcast episode, Ryan talks about times when it works using tight stop-losses versus very wide stop-losses and the tricks that you can use to narrow the stop-loss even further.
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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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