We have been seeing a weekly vacillation for a while now with markets jumping up or down over the weekend and then swinging back the other direction by weeks end. It is offering up some pretty lucrative swing trades. This week, the scans have shown we are in a pullback, at least for the start of the week. Looking at scans for bullish and bearish MACD Crossovers, it is crystal clear that the bears are in control today. Way more tickers on the bearish scan and big names with big volume. A couple tickers have really formed some appealing set ups.

We looked at one yesterday and here is another one and a trade we are going to follow:

AMZN is in a pullback after a big gap up. It looks like the gap up was not realistic and the ticker wants to be back around 250. This sets up a 9/18 250 put. right now they are at about 3.90. With the market a little pyscho right now, I would put everything into a medium to high risk category and allocate positions accordingly.

The other big name that popped on the radar yesterday was META. It showed up on a bullish crossover scan, but it was clear that if it didn’t confirm, it would drop in a big way. That is exactly what happened. It is heading into a rough week so that is another put candidate.

I am expecting today to be a pretty wild day so keep an eye out for updates.

Keep learning and trade wisely,

John Boyer

Editor

Market Wealth Daily