It was & I know that might sound odd but it was bugging me because of the sharp increase in recent month of trade ideas that have either fallen just a few cents shy of a price target before reversing or very briefly clipped what I believed to be a well-placed stop loss with the trade going on to play out exactly as expected (the recent UGAZ one of many good examples of that). We’re still off to a very solid start to the year on the official trade ideas with a high success rate & many double-digit gainers & I’m hell-bent to keep that streak going as I think 2018 has the potential to be one of the most lucrative years for swing trading in a long while. Doing so might entail modifying some of the trade parameters on the active trades such as price targets, suggested stops & planned entry (buy/sell) triggers as I believe that one of the keys to successfully navigating the market this year will be flexibility. I might be long & calling for a rally one day then shorting the market hard the next. The ‘short vol’ trade has finally been busted & as such, the days of the steady grind higher where every dip was bought just as soon as it seemed to be getting underway has been & will likely continue to be replaced with sharp swings in the market with much more individual stock & sector rotation than in recent years where nearly all stocks & sectors within the stock market rose in relative unison.

I was also about to add to this comment section that when T3 on this SPY trade was hit today, I just inserted the updated 60-minute chart with a screenshot that I took today into the post that I had mentioned in video drafting yesterday morning when it looked like T3 was going to be hit shortly after the open. After sending that post, I noticed my comments in the last paragraph about not having any desire to reverse the trade to a short as I was still looking for new highs in the broad market.

After reviewing the 60-minute charts yesterday following those comments that I made in that draft for the post that I didn’t sent out until T3 was hit today, I became increasingly concerned about the bearish developments on the 60-minute charts, including those negative divergences that were still hanging on by a thread. The bottom line is that while I still prefer not to short SPY at this time, I am warming up to the possibility of shorting QQQ and even more open to shorting some individual stocks with clearly bearish chart patterns.