Video: https://youtu.be/AYTnXp4bv4IMentorship Session Today! https://register.gotowebinar.com/register/6699491868878433292Mentorship Session Recordings: https://blog.bullsonwallstreet.com/swingmentorshipBoom! We've been talking about market breadth improving and the Fed chair interest rate speech was the catalyst the market needed for a big bounce. Now the key for a truly bullish move is a break of overhead resistance levels, namely the 50 and 200 day moving averages. While I did add two positions, it is not a good idea to get overly aggressive. Be patient, take shots and continue to add as the market improves. I'd still say there is a 50% chance this bounce fails at resistance, so be prepared for both potentialities.Areas showing strength include Brazil, India, China and software. Metals are also improving.Stocks I like today include TSLA, NFLX, AAPL, AMZN, NVDA, BABA, SINA, YINN, INDL, WYNN, FEYE, LULU, TEAM, UA, ORLY, ULTA, TWLO, SINA, BIDU, YINN, FCX, CLFOverall 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: Added LABU off bottoming formation and break of 9ema.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)
