Video: https://youtu.be/RC8GWxu-1IAMentorship Session Recording (October Meltdown): https://blog.bullsonwallstreet.com/swingmentorshipThe holiday week was not a good one for the market as all three indexes failed their respective bounces and continued lower. We are now set to test lows, except for QQQ which has already broke though the low. We start the week looking for holds of support levels and continuation to the 9ema, which would be bullish, or continuations of down moves. I am currently in no positions and will only add positions if we get one of the previously discussed signals.Homebuilders are showing strength. The Focus list is made up of homebuilders, relative strength stocks and earnings breakouts.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: BRZU, INDL, BABA, SINA, BZH, TOL, CLF, X, WYNN, UAL, ORLY, ULTA, MDB, TSLA, TEAM, TWTR, FEYE, ETSY, XHB, NAIL, PHM, SQPotential bearish plays: SQQQ, TZA, SPXS, SOXS, FAZ, NVDA, FBCurrent Positions: None.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)
