$SPY on the past 1 hour have build on my view and understanding a Head and Shoulder pattern, that even my trading colleagues were having trouble seeing. I had some of them saying that they were seeing on a 15 min chart, so I sent them this chart to help illustrate.
So far it is going my way, but equities are pretty much flat. So or they will drop hard suddenly and follow the $SPY as we close the day, or we will finish to look like we will have a nice gap down day tomorrow.
Please keep in mind that tomorrow we will have a half day. Trading will be just up to 1 pm. markets will be closed on Wednesday for July 4th holiday here in the US. And we will resume trading on Thursday.
May you all enjoy the end of your day.
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.
With everyone buying the SpaceX (SPCX) IPO, it is time to have a discussion about these initial public offerings, and how it is likely to ruin many traders and investors portfolios. In this podcast episode, Ryan Mallory details the traps and potential problems that you must know about when it comes to trading stocks and their IPOs.
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