The action today to kick off the second quarter of 2018 was about as ugly as it gets.
- SPX -2.23%
- QQQ -2.89%
- IWM -2.44%
But despite today’s selling, the S&P500 is still trying to hold on to this high stakes area of support around this 2580 level which is precisely where buyers emerged in early February.
Chart pattern trading falls under the category of technical analysis and represents one of the more popular approaches to making buy and sell decisions using charts.
We as humans love forming patterns in all areas of our lives and analyzing price charts is no different.
I don’t personally consider myself a chart pattern trader, but many of the swing trade setups that I do trade overlap
Eighteen thousand three hundred and sixty-four dollars.
That was the total cost of commissions I paid to Scottrade when I just started trading.
My trading account was around twenty-five thousand.
Stocks finished strongly positive on the day after starting off in the red with a lower gap open.
This was a bullish follow-through day after buyers staged a reversal last Friday.
We’re not out of the woods yet, the S&P500 still has plenty of recent supply to break through in this 272 to 274 area, but today was certainly a near-term constructive showing.
If you think this market can continue higher, here are a few stocks with strong technicals emerging from tight patterns under 52w and all-time highs:
$GDOT has been pulling back and flagging for 7 days after a 10% breakout move on February 22nd.
Monday, February 5th was an impressive session for markets:
- The S&P500 finally exceeded a 5% pullback (first time in a 12months+)
- The S&P500 went red on the year after being up nearly 6% in January
- The S&P500 saw the heaviest volume since 2016 (almost 300M shares)
How to trade stocks using daily closing prices walks through the best practices, tips, and recommendations for implementing a strategy that uses daily closing prices for its signals.
If you’re thinking about giving up intraday trading and extending your time-frame or if you’re a long-term investor looking for an active strategy to manage risk, this article will help give you some ideas to think about and test out.
We share a lot of trade ideas and strategy here at The Trade Risk but it’s primarily from the point of view of momentum, breakouts, and following recent price movement.
Mean reversion trading is a style that relies on price action to look much different (in most cases the exact opposite) as momentum, and it’s something we haven’t written a whole lot about on this site.
We finished higher across the board for the final trading session of October 2017 with the small cap Russell 2000 stocks out in front leading the charge.
All of the major indices are trading at or very close to all-time highs, and the S&P500 ($SPY), in particular, is set up going into Wednesday with back to back inside daily bars.
We finally saw a mild gap down and a shakeout this morning after a long stretch of quiet trading, but what little selling pressure there was did not even maintain throughout the entire day.
The QQQs led us lower, finishing down approximately -0.37%, but well off the lows of the day, the IWM nearly flat, and the SPY flat.
I continue to remain most suspect of the $QQQs out of the all the major indices, but for now, bulls remain very much in control of these markets overall.
Here are some individual stock setups that are offering up some interesting looks, shared on Stocktwits & Twitter earlier today:
How to Develop Simple Swing Trading Strategies lays the foundation for developing short- to intermediate-term overnight trading strategies. We’ll start off discussing what the goals of swing trading are and then move into some of the recommended steps to go about creating a strategy from scratch.
There are no holy grails we’ll be uncovering, but hopefully, the steps and framework outlined in this article will give you a responsible path towards creating a strategy to call your very own.