Swing Trader Pro: Morning Briefing (10-13-2022)

JC Parets
October 13, 2022

From the Desk of Kimmy Sokoloff

As I write this morning, the futures are trading higher, with the SPX at 3,600 ahead of the release of September CPI data.

I'd like to see the SPX hold onto 3,600 and trend higher from here, but time will tell.

The levels to watch on the $SPY are support at 355.71, then 354.15. Resistance is  is 360, then 364.

Here are the names I'm watching right now:

  • I spoke about $INTC live in the trading room  yesterday. This name might have potential to 26.

  • I'm watching $MU for a long above 53.7 for a potential move to 55, then 56.

  • I'm watching $ORCL again for a move to 65.2.

  • I'm also watching $SBUX and $RBLX.
  • I recommended $XOM yesterday. I'm watching to see if it can clear 100.

We'll see how much of what I write still holds by the time the market opens. I have no idea which way this market leans.

I'll see you in the live trading room at the open.

Here are a couple of key things to remember about what we're doing here.

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 each out with any questions.

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

All Star Charts Team

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