Hey there loyal swing traders! Today’s watch list is another steaming turd.
I’m sitting in cash until I feel more comfortable with the markets. Market looks good this morning after yesterday’s 300+ drop but I still don’t trust it and wouldn’t touch it with a dirty stick.
It’s not a swing trader’s job to determine a trend change but he must be aware of market conditions! Right now, it’s a pit of confusion and people don’t know what to do. Looking at the daily chart these past 2 weeks tells the story.
It’s our job to ride the trend in the direction showing strength. Right now, there is no sign of up or down. Just have to wait it out until the bulls or the bears prove stronger. Fortunately, breakouts work just as well with bear markets as they do with bull markets!