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Long Setups For An Uncertain Week
Early on this morning, the market acted like it may want to bounce off of support in the 2087-2102 range on SPX. That is in doubt at this point as the market quickly erased the morning bounce off of the lows from this morning. It is hard to say where this market truly wants to go at this moment. Come Wednesday you have a FOMC meeting and presser that with the right words could blast the S&P 500 to new all time highs within a few minutes. Or she could say the wrong thing and put us back on course for a correction again like we saw earlier this year.
Ryan Mallory is the co-founder of SharePlanner Inc, a financial website devoted to Day-Trading, Swing-Trading (both long & short) and exchange-traded funds. Ryan makes a strong emphasis on risk mitigation strategies, trading transparency, and trader education – not to mention a great set of stock screens as well.
Be Sure to Check out Ryan’s Site at Shareplanner.com
Source: http://www.shareplanner.com/featured-blogs/ryan-mallory/trade-setups/22685-long-setups-for-an-uncertain-week.html
