Top down process for swing trading

[ranj]

Hi all,

Weekend review with some possible candidates to trade.
Looking long on sectors XLE,XLK,XME. (sector ETF acting stronger than SPY)
XME holdings that are stronger than XME ETF are
MEE,CNX,ACI,AKS,STLD


AKS has a nice trade set up. Friday had a test in a previous area of demand.

[TinGull]

Very nice. I put up a thread for my weekly candidates just as you put this one up. XME and XLE are in there for me, too.

[TinGull]

And CNX....I like how this is setting up. Strong resistance was at around that 50 dollar mark and it broke solidly from that, came back down to support and broke that newest high and just tested that on low volume...

[ranj]

It looks like the bad news on Citi is painting a lot of low vol down bars.
AKS did not hit yet, but is not showing any signs of supply. Should be a busy evening tonight looking at charts

[ranj]

CNX is working well thanks Tin
AKS tagged in
XME, XLE, XLB all working well.
Got Gapped into AU, but exited, too much risk, with a slight profit.

[TinGull]

Yup, they all showed some real nice strength today. I had to leave to teach a class at 3, so didn't get to place many orders today. I'll get it tomorrow morning on a few I'm still stalking.