Swing Trader Pro: Morning Briefing (10-17-2022)

JC Parets
October 17, 2022

From the Desk of Kimmy Sokoloff

Overnight, the futures held Friday's lows, and now we're back up against resistance.

Not too many names stand out to me right now, I think maybe because they just keep going back and forth.

I am watching the following situations:

  • $MSFT needs to break above 232.60 for a potential move to 235, then 240. 

  • I'm looking at $INTC back above 26.50 for a potential move to 27.

  • I'm looking at $FDX above 159.61 for a potential move to 161.50.

Resistance for the SPX is now 3,636 and a level that would need to be held in order to trend higher. The $SPY has resistance at 362.6, and the $QQQ has resistance at 267.55.

We're basically on a seesaw, and it's easy for that to turn into a whipsaw.

So, be mindful.

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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