We start the week with SPY finally under that key 50 day moving average that we have been monitoring closely. This development puts us in a slightly bearish trading mode, as the market now looks to test the old highs in the $229-230 range.
How do we trade around the new market development?
By focusing on market plays rather than stock specific setups. At the top of the list this week are SPXU, SPXL, UVXY, SOXL, SOXS and FAZ.
In today’s video, I show you what to look for to potentially trade the market both long and short. We discuss key market remount levels that get us going long, key continuation breakdown and bounce levels, along with a primer on ETF trading with leverage.
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.
Check out the Swing Service HERE
Follow me, Paul Singh AKA “TheMarketSpeculator” on Twitter or email me at SinghJD1@aol.com.
