Video: https://youtu.be/IQyZjInSXYsMentorship Session Recording (October Meltdown): https://blog.bullsonwallstreet.com/swingmentorshipWe are at an interesting spot here as the market reversed intraday negativity with SPY closing up over 1% and the other indexes closing even stronger.While this is a positive for the market, none of the indexes could get over the 9ema, halting right at that level before pulling back slightly.Is this another bullish trap? We will soon find out, but I did not take off my short NASDAQ position just yet. Stops have been moved up to entry-level and I added twilio on the classic breakout pull back setup.I may look to add BRZU, BABA, UWT or AAPL today or early next week (see video for setup analysis).Overall earnings season has been bad, although it did show improvement last week. That is a potential driver of the current market. I continue to mentor earnings reactions. Also, now that all FAANG stocks have reported with poor reactions, I am watching for signs that they reverse.Remember strong bounces are common in corrective markets. They only signal a potential shift in trend if they take out key resistance levels coupled with strong market breadth signals.Trade small, don't get too aggressive and stay in protection mode. We don't know yet if this is a true reversal of trend bounce or dead cat failure bounce.Potential longs: CLF, NFLX, UA, TWLO, X, BZR, TOL, BABA, WYNN, UAL, TQQQ, SPXL, AMZN, AAPL, BRZU, INDL, YINN, SINA, BABAPotential bearish plays: SQQQ, TZA, SPXS, SOXS, FAZ, NVDA, FBCurrent Positions: Added TWLO classic breakout-pullback. Still holding SQQQ.Today's video:
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator Wayhttps://blog.bullsonwallstreet.com/23-laws-part-time-swing-trading-market-speculator-way/How To Use Swing Dashboard: https://blog.bullsonwallstreet.com/how-to-use-the-new-swing-trader-dashboard/Chat With Traders Interview: http://chatwithtraders.com/ep-058-paul-singh/29 Essential Trading Posts: https://blog.bullsonwallstreet.com/29-essential-swing-trading-posts-2016/New subscribers and trial members please leave me any feedback/comments in the comments, via email (singhjd1@aol.com) or twitter(www.twitter.com/PaulJSingh)
