Sunday, October 16, 2016

Week ahead

THE WEEK AHEAD

The Major Indexes:
ES - S&P 500 (US index of 500 large cap Stocks)
NQ - Tech heavy NASDAQ

Trend is up on all and all above their 200 day moving average (white line) and the 20 day moving average trending up. It was a nasty week for the markets as seen by the red bar break down to the 2114 support on the ES...but can be still looked at as a pullback. Shook out of a few swing trades.

NQ still has support at 4650. We could still see more selling if ES breaks below last weeks low. Will hold to enter swing longs until we break above the yellow trend line.

Current Stocks Targeting for Week Update: E: Enter and S: Stop
(the entry point is my trigger price to enter the trade)

Watching:
- SXC E:7.25 - S: 6.25
Current Holds
- JD: Bought 184 shares @ 27.10 - stop 25.49
- SEMG E: 35.85 - S: 31.39 - 85 shares

These are my swing trading ideas (buying a stock and holding for days to weeks) and not day trading ideas (buying selling the same day)

Current : -2.6R




* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE