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

JC Parets
October 3, 2022

From the Desk of Kimmy Sokoloff

What a reversal on Friday in the indices!

There's not much more to say other than that September was an ugly month.

For today, I'm watching to see if the $SPY can recover the 360 level. If it can, then there's potential to 365.

If we continue to stay below 360. there's potential to see 354.80, which I spoke about a few times last week.

Here are the names I'm looking at right now: 

  • I'm watching $WFC because it's right under its eight-day moving average at 40.97. Should it rally above there, I'm looking for a move higher.

  • I have my eyes on $TSLA news out this morning -- the stock is down roughly 10 points. If this name can hold 250, I'll look for a bounce higher.

Oil names are gapping higher this morning.

  • I've spoken about $XOM recently. It's holding above its eight-day moving average at 89.30 or so. It's not trading way higher at 90 roughly. I'll watch to see if it can maintain this level for a next leg up to 90.50.

  • I'm watching $HAL as well to see if it can clear resistance at 25.78 for a potential move higher.

It's exciting to be on this journey with all of you. Livestreaming my daily ideas is new to me, but the work surely is not.

Now, as we get started on our second week, I'd like to reiterate a couple of key points I made last week in the live chat.

First, it's important to be in the live chat. As you know, the market has been extremely volatile, and we'll likely continue to see many ups and downs.

What that means practically is that I'll update not just price levels but even particular names we're watching as the market moves.

Second, please understand that the focus of our discussions is simply my opinion.

Your results will vary based on many factors and variables including execution, timing, and market conditions. All of these issues are completely out of my control -- and yours as well.

Our mutual goal is to win more than we will lose and that, by adding some of my strategies, we'll help you boost your overall success.

Remember, the market is on its own schedule and subject to change without notice.

We've had many questions about position and allocation sizes. I will never advise you regarding the amount of risk or portion of your assets you should invest.

All trades are at your own risk and can be discussed with your personal financial advisor at any time should you feel necessary.

Thank you for joining us, and I look forward to working with all of you!

And please reach out with any questions.

We'll see you LIVE on the ASC Rangefinder app to start the trading day.

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