The daily chart on the S&P 500 (SPX) is an absolute mess.
There isn’t really much to like about it in terms of determining future market direction.
What has helped me quite a bit in navigating this market is the 30 minute and 1 hour chart. These two charts provide a lot of clarity in terms of the market’s direction and has been a main driver behind my trading decisions.
Notice on the hourly chart below, just how well formed the channel is, that we are trading in. Clearly, on this time frame we are in a downtrend. That is why I have been careful about adding significant long exposure when we do have those rallies in between, and when I do, I aggressively book the profits.
Careful in this market, I think we are prime for some heavy selling. That doesn’t necessarily guarantee it to be so, but to manage risk under the belief it could happen, is entirely appropriate here.
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.
Be sure to check out my Swing-Trading offering through SharePlanner that goes hand-in-hand with my podcast, offering all of the research, charts and technical analysis on the stock market and individual stocks, not to mention my personal watch-lists, reviews and regular updates on the most popular stocks, including the all-important big tech stocks. Check it out now at: https://www.shareplanner.com/premium-plans
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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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