It was obviously positive that stocks continued building on their gains since bouncing off their mid-November lows, and did so on higher volume last Friday. However, it’s still too early to declare an end of the broad market’s multi-month downtrend from its September 2012 highs. One of the biggest reasons we say this is because […]
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One ETF we are stalking for technical swing trading buy entry today is ProShares UltraShort Emerging Markets ETF ($EEV), an inversely correlated short ETF. As you can see on the chart below, EEV broke out above a six-month downtrend last week, and has now pulled back to near-term support of its 20-day exponential moving average, […]
Over the past several days, we have been clearly explaining that our current plan of action is to be in “SOH mode” while waiting for the weakest ETFs and stocks to bounce into significant technical resistance levels, such as moving averages and prior lows. Then, we would wait for the bearish reversal patterns as a […]
In this stock trading strategy video (click here to see other trading education videos), we do an educational technical review of an actual swing trade in ProShares UltraShort Basic Materials ETF ($SMN), an inversely correlated “short ETF,’ which we bought November 8 and sold on November 15. Upon closing the swing trade, we had scored a solid […]
In yesterday’s (November 15) blog post, we said the stock market may be nearing a significant short-term bottom because Wednesday’s price action resembled the start of panic selling that typically precedes exhaustion in a downward trend. However, given yesterday’s relatively tame price action, the stock market may still need more time to wash out the last […]
For a weak market to form a significant bottom, there typically needs to be at least one or two days of panic selling, where investors finally give up and just want to sell at any price. This prompts institutional investors to step in and attempt to press the “reset” button. It seems as though Wednesday’s action […]
Although our market timing system remains in “sell” mode, and our near to intermediate-term focus remains on the short side of the market, it’s never a bad idea to keep an eye on ETFs and stocks that are exhibiting relative strength to the broad market, as these will be the first equities to move higher […]
Last week’s bearish price action caused the main stock market indexes to plunge through major levels of technical price support, including key moving averages and prior “swing lows.” Now, those technical levels of prior price support will act as the new levels of price resistance on any rally attempt. This is because the most basic tenet […]
Going into today, we are targeting two more ETFs for potential swing trade entry. The first is ProShares UltraShort Financials ($SKF), which is another trend reversal play of a “short ETF.” After forming a month-long base near its multi-year lows, the ETF recently formed a “higher low,” then broke out above intermediate-term resistance of its […]
In our “members only” Live Q&A webinars and via e-mail, we regularly receive questions from subscribers of our swing trading service who are focused on learning our stock trading strategy. On occasions when we feel the answer is of significant educational value to readers of this trading blog, we share the question and answer here. Yesterday (November […]
