One of Today’s Swing Trade Ideas

G/Short  (Industrials sector)  G’s weakness since its March highs and its failed attempts to show strength above the big three suggest that the sellers have the upper hand.  The past two weeks, the bearish architect is drawing a bearish “h” pattern starting with the bearish left/right combo on May 21.  A successful breakdown could lead to the 200 day SMA near 11% profit.

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SPY:   Friday the SPY closed with a Doji at $209.77 below the 50 SMA and below our uptrend support line.  This puts $208.60 and $207.40 in bear striking distance.  With the technical bearish breach, we saw in the SPY last week that a one-candle reversal signal is very unlikely to have any Continue Reading