My Swing Trades

I added one new trade to the long side, while keeping my sole short position in the portfolio, and also dumping NUE for a -1% loss, soon after the open. With the market still buying the dips at every turn, but only enough to get the market back to break even, it makes it hard to be overly bearish, and while we keep making new all-time highs, those highs are only fractionally higher. More than anything the market is coiling over the last eight trading sessions, waiting to make its next move. 

Indicators

• Volatility Index (VIX) – The Chinese trade news instantly shot the VIX up to 13.90, but ultimately brought it back down to 13-flat, for only a 2.5% move. Still compressed, and with the tight coiling at these lows, sets the market up for a volatility event. 
• T2108 (% of stocks trading above their 40-day moving average): I keep hounding about this, but I find this whole matter quite astounding that the number of stocks that are participating in in the market rally has declined for more than two weeks, the indices have been rising during that same time. 
• Moving averages (SPX): Trading above all major moving averages.  
• RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

It was a flight to safety today, as investors pourd their capital into Utilities, Real Estate and Staples. Nothing else really participated. So essentially the market rose higher on investors not wanting to be in growth stocks but in value/safety stocks. 

My Market Sentiment

The day was quiet, and while there was some mid-day theatrics, but the market only desired a close at break even. Price is contained within a tight range, and once it breaks out of that box, it will provide the direction for where the market wants to go next. 

• 1 Long Position, 1 Short Position.

Recent Stock Trades – See My Past Performance Here.