A long and short setup is fitting for a market like this

lazy swing trade stair steppersIt’s a market that seems to be trading back-and-forth, day-after-day without giving a clear direction as to where it ultimately wants to go. As traders we always want to know where it is going but to be completely honest, it is actually a good thing at times, to realize that you don’t have a strong inclination for where this market wants to take us. Just watching this market today, it is easy enough to have one opinion on the market’s direction in the morning and come afternoon, a completely differently belief. 

Today’s lazy trades offer some ideal setups, in fact, I took a position earlier this morning in VCA Antech (WOOF) at $22.12. as a momentum/breakout play. The other is a short setup in Alexion Pharmaceuticals (ALXN) that has been in a long-term downtrend and now forming a bearish flag and confirming it as I am writing this post. 

The key to these trades though is to make sure that the market is going to support the trade. Otherwise, jumping into these, or any stocks on the basis of their individual setups could be problematic. So be careful out there. 

Here’s the lazy swing trade setups

Long: VCA Antech (WOOF)

VCA Antech WOOF ascending triangle long setup

Short: Alexion Pharmaceuticals (ALXN)

Alexion Pharmaceuticals ALXN short setup swing trade

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