Video: https://youtu.be/72Nrjn-xskkSPY is up huge premarket after getting crushed on Friday and closing right at major converging support levels (200ma and old November high). The bounce is bullish but is only a start. We still do not know if the market resumes uptrend or this is a "dead cat bruce" that leads to lower prices. To the upside, we become more bullish as each resistance level is taken out. At that point I will add stocks to the focus list. Until then, we only need to watch the leveraged ETFs. To the downside, we look to short if the bounce and support levels fail. Oil is flat today but overall still shows relative strength.Focus List: TQQQ, SPXL, FASCurrent Positions: Stopped out RACE. Still holding UWT.
Please read the Education Archive and posts 23 Laws of the Part Time Swing Trading the Market Speculator WayHow 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)
