Swing Trader Pro: Afternoon Briefing (10-03-2022)

What I'd like to see for tomorrow is that the $SPY holds onto the 365 level and, more importantly, 363. There's major support down at 360.

Here are the trades I took today:

• I shorted $VLO at 110.70 and covered at 109.70. The reason for the short is that this morning VLO was bumping up against the 50-day moving average at around 111, and I was also looking for gap-fill to 109.14 from the morning gap up.
• I bought $XLB at 69.16 and I sold it at gap-fill at 69.79. XLB broke 69, the eight-day moving average, and closed the gap higher to 69.81
• I bought $WFC at 41.25 and sold at 41.43. I was slow to enter; I should have entered at 41, at the eight-day.
• I bought $SPY at 363.48 and sold 364.6. I used 363 as support, 365 as resistance.
• I shorted $TWTR at 43.28 and covered for a loss at 43.49. I should have held on because the stock is now at 42.60.

Oh, well. You lose some, and you win some.

I'll be watching to see if the SPY can digest this move and gradually trend higher into the 373 zone.

Time will tell.

We'll see you live at the open tomorrow to start the trading day.

And please reach out with any questions.

All Star Charts Team