A Daily Swing Trade

SMTC is winding up within the boundaries of a large triangle range that could spark a huge breakout move. Watch 13.75 up, and 12.25 down for a breakout.

HZO has broken a clear trend line to the downside via a sizeable breakaway gap and increased volume, which is quite bearish. Look for more weakness from this stock.

- Dow tests 12,000, trades quietly sideways to the Close. The index struggled at 12,000 throughout the day and basically sat idle before closing the session with a 12 point loss.

- The NASDAQ and S&P each held at their respective lows today, as very tight consolidations formed. Look for a breakout from these patterns for key direction.

Summary

The Dow ended the day quietly, as the index basically traded sideways the entire session. The index continues to spar with the 12,000 level, which we will continue to watch the next key move.

Shogun Swing Trading - Best Swing Trading:

Shogun Trading's approach can benefit all stock traders, from day traders to long term swing traders. We are proud to show some of the best Performance in Day Trading, Longer Term Swing Trading Strategy, Systemized Swing Trading and through our Educational Courses and Videos... » Get More Info Now!

ALO has filled a large exhaustion gap to the downside and is now breaking a large triangle through the bottom as well, which is highly bearish. Watch for continued weakness from this stock beneath 21.50.

- Dow ells early advance, drops just shy of key 12,000 level. The index came within a few points of hitting the key 12,000 zone and bounced to the Close for an eventual 51 point loss.

- The NASDAQ and S&P each sold off big compared to the Dow today, especially the tech-heavy index. Today's break could be the first spark to big selling this month.

Summary

The Dow closed the day with a nice bounce that recovered some of the day's losses, but the index remains vulnerable to key weakness ahead. Watch 12,000 closely, as a break or bounce in this zone could influence the next key medium term move.

Psychologist, Dr. Daniel Kahneman (The Nobel prize in economics - the field of behavioral economics) basically shows that investors are irrational, but predictably irrational. They continue to make the same mistakes over and over. One of the biggest is a common inability to take a loss: taking a loss is so painful, it is simply avoided.

A trader's most valuable commodity is trading capital. What is the most important rule for a trader? Preserve your capital. This is what keeps a trader in the game, and it is foolish to do anything that will jeopardize it. Subsequently, to preserve a trader's capital, there are rules that help a trader, whether in short, intermediate or long term play.

The rules listed below are suggestions. Only the trader can decide which rule is important. However, when a trader decides on a set of rules, they should be used consistently. Rules make up a trader’s system and are enforced by discipline.

OSK has broken a large triangle range to the downside via a solid breakaway gap and high volume, which is quite bearish. Watch for steady weakness from this pattern.

AMZN is holding at major resistance at 38.85, which has held since April. Watch for weakness away from this zone, unless a violation is seen.

- Dow trades in volatile manner, but ends session flat again. The index each traded in full swings today, but continue to build out with major technical patterns, which will play a huge role in early November movement. Watch these patterns closely.

Summary

The Dow ended the day with a nice rise from the afternoon lows. The index continues to hold firmly above 12,000, which looks to be the key fulcrum in the charts. A break or bounce off this level will likely determine the next medium term move.

- The NASDAQ and S&P each traded in full swings today, but continue to build out with major technical patterns, which will play a huge role in early November movement. Watch these patterns closely.

Summary

The Dow ended the day with a nice rise from the afternoon lows. The index continues to hold firmly above 12,000, which looks to be the key fulcrum in the charts. A break or bounce off this level will likely determine the next medium term move.

CPWR has formed a large triangle that could be on the verge of a breakout. Watch 8.10 and 7.40 for a solid breakout from this range, as such a move could spark big movement in the direction of the break.

VLO has formed a clear pennant consolidation at the lows, which is highly bearish. However, a break in either direction from this well-developed pattern could spark big movement. Watch 55.00 up and 51.00 down.

- Dow sells off from highs to begin session, ends day with steep decline. The index closed the day with a negligible 4 point loss, but is now winding up within a clear triangle pattern that could spark movement tomorrow.

- The NASDAQ and S&P each recouped the day's early losses and are now winding up within clear technical patterns. Watch for a breakout for the next key move.

Summary

The Dow closed the day flat in terms of points, but could be gearing up for a big move out of the clear triangle pattern. Watch this pattern for the next key directional move.

CVX is holding firmly at key resistance at 68.50, which has held since late summer. Watch this zone for a break or bounce for the next key move.

- Dow sells off from highs to begin session, ends day with steep decline. The index closed the day right at key support at 12,075 with a solid 73 point loss, but much more selling could be ahead.

- The NASDAQ and S&P each sold off sharply late in the day, led by the tech-heavy index. Watch for potential continuation patterns to form to indicate that more selling is likely.

Summary

The Dow closed the day at the lows of the session after getting a huge sell-off late in the day. The index is now testing a major lower trend line at 12,075, which could shed light on the next major directional move.