Apathetic price action in the stock market creating ideal swing-trading short setups.
Bulls had everything going for them this morning to really squeeze the bears out of their positions. With a 1% rally right out of the gates, the bears weren’t too far away from being forced to cover their positions.
But that didn’t happen, and as a result, the bears are in control of the market again, taking price action on $SPX into the gap and flirting with the possibility of a complete reversal. I actually took a position earlier today in SPXU when the market was at its highs of the day. So far it is providing a nice return. The action into the close will determine whether the bulls can salvage the day. But if they give up all or most of the gains on the day, I would suspect that it will continue into tomorrow and create some find trade setups from the list below.
I am also looking at the big banks right now as potential short plays, like Bank of America (BAC) and Goldman Sachs (GS) as they are are making for some fine setups.
Here’s my bullish swing-trading-watch-list:
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