My Swing Trading Approach

Yesterday’s price action was uncertainly bearish and damaged the charts for the bulls some, but with the pre-market strength today, I wouldn’t count out a similar move that was seen on 5/30 – where it renders the previous day a bear trap.

Indicators

VIX – Huge pop yesterday that broke the 5 month declining trend-line by a smidge.
T2108 (% of stocks trading below their 40-day moving average): An 8% decline yesterday down to 60%. More weakness in this indicator than what the overall market is showing, suggesting the same is true for stocks as a whole.
Moving averages (SPX): Broke below the 20-day moving average yesterday.
RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Real Estate continues to be one of the market’s best sectors of late – impervious to any sudden sell-offs like we have seen this week. Utilities continues with their dead cat bounce, but I don’t have much faith in it sustaining. Double top pattern in Materials unfolding – stay away. Also – don’t play the hero and try to get something out of Energy – huge topping pattern unfolding there.

My Market Sentiment

The market is cracking some, but well off of previous overbought conditions, and the Dow is actually oversold after selling off eight straight sessions. I expect that there will be at least an attempt at a bounce of some kind today.

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

4 Long Positions

Recent Stock Trades – See My Past Performance Here.

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Swing Trading the Stock Market

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.

Emotional trading will destroy one’s portfolio. Aiming to hit home runs with every trade is a sure sign that the trader is overly emotional and only cares about fast money. In this podcast episode Ryan explains how chasing after stocks like MicroStrategy (MSTR) without a plan for managing the risk can ultimately ruin a trader’s attempt at being a successful swing-trader.

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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.