Today's Lazy Trades come at a cross roads for the stock market. Either we bust through this strong level of resistance on the S&P OR we go straight back down from where we came from.
Either way, it will require traders to be nimble and not get ahead of the market until the market makes its intentions known.
The Long setup in Air Lease (AL) has a long-term cup and handle pattern at work. If this stock works out and the market moves higher from here, I could see where this stock could become a position worth holding in excess of a month, but in order to do so, the market would need to get fairly bullish, very soon.
Depending on how we close, if we can't put together any substanal gains into the close, and instead pullback from where we currently are, than I may add some TIF to the portfolio as it is right up against short-term resistance after formerly confirming a double top pattern.
Here are today's Lazy Trades Long and Short Swing Trade Setups
Long; Air Lease Corp (AL)
Short: Tiffany & Co (TIF)
Be sure to check out more of Ryan's Swing Trading Strategies at SharePlanner.com
