I thought I’d shake things up a bit, and redesign the daily trading plan. Honestly, I became a bit bored by how I was doing it before. And if I’m getting bored with it, you probably are to. So lets fix that with what I’ve put together to replace it: The Swing Trading Strategy Report. Hope you like it!

My Swing Trading Approach

I wouldn’t mind adding 1-2 new trades to the long side today, if the market can sustain its momentum to the upside. I cut my financial exposure with Bank of America (BAC). Earning season will get a heavy load of reports today so, that will no doubt have its effect on the market as will the GDP report on Friday. I’ll raise my stops in my profitable positions yet again.    

Indicators

VIX – does it really matter? The indicator reached all time lows today when it broke below 9. 

T2108 (% of stocks trading below their 40-day moving average. Not showing tons of bullishness, and despite continual all-time highs in all the indices, the indicator has yet to break its April highs. 

Moving averages: 5-day MA on SPX continues to hold since earlier thsi month. If that breaks, watch the 50-day moving average. 

Industries to Watch Today

Financials starting to look bearish following yesterday’s FOMC Statement.  

Energy Looks promising, but two big names report on Thursday: Chevron (CVX) and Exxon Mobil (XOM).

Software stocks have been breaking out nicely to the upside of late. A lot of momentum in plenty of those stocks. 

Railroads – not a fan. Looking bearish but I’m not really wanting to short them right now in a bull market that won’t sell-off. 

My Market Sentiment

Cautiously Bullish – one eye on the exit, my friend. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance: 

• 4 Long Positions

Recent Stock Trade Notables:

• Bank of America (BAC): Long at %23.99, closed at $24.23 for a 1% profit. 
• IBB: Long at $313.18, closed at $324.25 for a 3.5% profit. 
• SPXU: Long at $14.82, closed at $14.58 for a 1.6% loss. 
• Alibaba Group (BABA): Long at $143.65, closed at $150.40 for a 4.7% profit. 
• American Airlines (AAL): Long at $49.26, closed at $51.84 for a 5.2% profit
• Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit. 
• Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit. 
• IBB: Long at $298.24, closed at $303.74 for a 1.8% profit. 
• SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss. 
• Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit. 
• Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
• Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
• American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
• Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
• Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
• Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
• Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
• SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
• JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
• Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
• Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
• Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
• Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
• Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
• Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
• Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
• Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
• Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
• Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
• Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
• UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit. 

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