The debate: Was today's price action bullish or bearish? At first glance it looks bearish, especially when influenced by the geopolitical news and Asia's price reaction. Furthermore, the indexes were read and breadth showed most stocks red as well. However, technically the price action is a positive. Both SPY and QQQ held up well compared to Asia, and close way off the lows while remounting key levels.
That being said, caution is a must in this market. No matter what price action tells us, we can not predict what governments and world leaders will do or say right now. Thus, no big bets. In fact, staying out of the market and waiting for the right time to pounce is not a bad choice. Those choosing to trade overnight positions should make sure to position small and wise.
7 things you will learn in this week's video:
- How to analyze market price action on volatile days
- Key price levels to watch
- Focus list stocks showing relative strength
- How to trade China with YINN and YANG
- Analysis of the housing, energy, biotech and tech sectors
- Analysis of over 20 good stocks to trade
- Using VIX as a hedge
Swing Trade Service
This swing trading service is great for those that work and can't monitor the computer all day. We have in-depth nightly reports on the gameplan for the day/week and all stock picks that I trade will be alerted and emailed to you.