Today's video: https://youtu.be/3ZpwMOc6guA
While still in the post breakdown range, SPY showed strength yesterday up 1% and getting to the top of that range. This morning we are set to gap down slightly. Key levels are the 50 dma to the upside and the bottom of the current range which corresponds to a 2 year key level. Breakdown of this range setups up a new leg down.
Remember the big Fed meeting is in the middle of next week. I'd like to lighten up going into the meeting so I will not likely add positions before the meeting. I am adding to the relative strength list and will be ready for whatever the market does post meeting.
Oil is down premarket and I could get stopped out of my UCO position. LABU and SOXL lead the market yesterday and are nearing targets, as is AMBA.
Relative Strength Stocks List: AAPL, BABA, WYNN, XNCR, EXEL, GPRO, FIT, AIRG, PYPL, REN, YELP, WB, DKS, SHOP
Current positions: SOXL, LABU, AMBA, CYBR, TSLA (short), BWLD, UCO, TWLO.
(No need for IPO or extended list as we focus on leveraged ETFs and a few select stocks for now).
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Way and How to Analyze Your Swing Trade Results It is important to know these setups and rules if you trade off the Report.
How To Use Swing Dashboard: https://bullsonwallstreet.com/how-to-use-the-new-swing-trader-dashboard/
Chat With Traders Interview: http://chatwithtraders.com/ep-058-paul-singh/
February Q&A: https://bullsonwallstreet.com/swingtradingwebinarqa/
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