Swing Trading S&P500

[hwsteele]

Shorted the market today at 1068 looking for the 1050 main pivot. The market traded right through it down just past the 1035 main pivot. I got out at 1035. Went long at 1038 looking for 1050 and did get out right at 1050.

 

[hwsteele]

went short at 1049 looking for 1035

 

[hwsteele]

moved stop to 1045

 

[hwsteele]

stopped out at 1045 for 5 points. Not a bad day today am calling it quits for now might be back later in the day.

 

[hwsteele]

ok I'm back now. I see I should have left the trade alone as it did as I suspected and went down to the 1035 main pivot. Now lets see if the market turns back up at around 2P.M. New York time back to the 1050 area.

 

[hwsteele]

we did have the 2 P.M. move and it was down not up. went short the break of 1025 looking for 1003

 

[hwsteele]

Yeah the market finally broke through 1012!:clap:
Show me 1003!

 

[hwsteele]

Well I need to head off to work now so I will leave the trade open with a stop loss at 1020 for five more points and a take profit at 1003.

 

[hwsteele]

have a feeling the market will close today at the 1035 pivot. If not then around 1003.

 

[hwsteele]

I was stopped out at 1020 for five more points and then the market went all the way to the 1050 pivot area and then right to the 1060 minor pivot price area. That's a good sign.

 

[hwsteele]

went short at 1060 looking for 1050 and made it just after open. The market did trade up to about 1064 right after it touched 1050 so when it turned back down at 10:30 I shorted again. Got the same ten points as before. The market has traded down to about 1035 now and I believe it will turn up soon.

 

[hwsteele]

will go long on a break of 1041

 

[hwsteele]

I am long the market now. I believe the market will trade up for some time now.

 

[hwsteele]

ok by up I ment down! Stopped out at 1035 for a loss of 6 points.

 

[hwsteele]

last try for a long in at 1018

 

[hwsteele]

Stop set at 1019 will let it ride.

 

[hwsteele]

well I was stopped out but did make the one point ! Oh well tomorrow is another day.

 

[hwsteele]

The market is now down to what I believe is major support so I will be going long here at 980 looking for 995.

 

[hwsteele]

I should make myself more clear. I entered into a swing position here. I will keep it for a couple of days if the trade works out.

 

[hwsteele]

The market has gone to 995 and we might see a reaction in this area. Then 1002 and 1008.