A Daily Swing Trade

The longer term trend is down. The market surged above the 20 day EMA today raising a slight red flag to the current downtrend. The short term trend is sideways to up, which is confirmed with Daily prices above the 5 day EMA and Stochastics in an uptrend. Despite this assessment, we do temper our enthusiasm for any large moves to the upside due to the overall downtrending Daily chart ...