I'm looking to go short XHB as soon as it hooks down from a swing high. The swing low was Feb. 5 at $14.60 with an objective of $15.58.
XHB for much of the day looked as though it were making a swing high above the objective.
It traded sideways from about 10:20 a.m. Eastern, swinging between $15.85 and $15.70, twice touching a high of $15.86.
However, in the last 10 minutes of trading it pushed above that high, and began to use $15.86 as support rather than resistance.
So I conclude that the upswing is still in force, and I'm not going short today. I'll wait and see what the morrow brings.
My earlier postings on this swing-trading series:
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