Swing High

Three economic reports came out this morning and so far, Housing Starts is the most bearish of the reports. The other reports came in more or less in line with expectations. Pre-Market, stocks are selling off a little bit. If stocks were to open right now, we would see a slight gap down or a neutral open across the board. Since burning my video, the Dollar has sold off and stocks popped up.

Today could very well be another sideways trading day. Look for SPY to hold up in its high base formation. If it breaks out to the upside, that will be bullish, but weaker than if it consolidated first. If SPY breaks down, we will mark a swing high here. Check back later today for your Halftime Report. Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.

Happy Trading,

Jason

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