Happy New Year dear readers! I hope you will have a healthy and a wealthy 2013!
I have accepted new a new project that I’m very exited about but it will take up a considerable amount of my time. That means, something else has to give in and for now it is my short term swing trading. I’ll switch to a longer term trading strategy that will not take up that much time. In return, less trading and less updates on this site but I’ll try to update when there is important things happening in the markets.
Last 5 years of swing trading has been quite good. I’ve learned quite a lot and looking back in my trading journal, I realize that I have also been very lucky at times 🙂
My goal for 2013 with the longer term strategy is 8-10% ROI. I’ll be trading DAX and perhaps IWM with this strategy, more about this subject later. Well, that’s about it, let’s move onto some charts.
First, SPX weekly. Price pattern is more bullish than bearish but we have a lower high and that should be a heads up. SPX is trading above MA20 on the weekly and also on the daily time frame.
VIX is very interesting, lot’s of volatility the last couple of trading days. Note the huge candle outside Bollinger Bands, note also that we are above MA20 and this is somewhat rising. This is bearish but let’s see how the first trading week will continue, I bet larger traders are still on vacation..
SPY ended last session with a volume surge and I guess for the short term more on the upside. I’m though a bit worried about money flow since it is in bearish territory but showing some improvements to the better.
Trading plan: stay aside, there is no hurry.
