The one thing that the bears can look to, to give them any hope whatsoever at this point is the sell-off that took place back on 4/4/14 after breaking through the 1883 level on the S&P 500.
It was one massive head fake for the bulls and trapped a lot of longs. However, I don’t expect the same king of action to happen again. Yesterday’s move was legit, and while we are sideways trading today, I don’t see really where the bears have made any progress in their favor that would lead me to believe that we have a possible repeat of early April on our hands.
Nonetheless, you never completely ignore the risk in a market, and that is why I always have a bearish and a bullish list of possible trade setups that I can take no matter the market. It has save me many times before and allows me to stay nimble in an ever changing market.
Here’s this week’s list of trade setups:
Welcome to Swing Trading the Stock Market Podcast!
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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.
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