My Swing Trading Approach

There are some nice swing trade setups to be had, but I am concerned about adding additional long positions to the portfolio today. Tightening the stops will be in order. 

Indicators

VIX – Expected bounce yesterday, considering the previous day’s close at 9.15. May see a continued bounce again today.  

T2108 (% of stocks trading below their 40-day moving average): The past three days have been concerning. Hardly a move over the last two days – just 1.21 points to 65.71%. Acting as a divergence right now, as the indicator should be in the mid to upper 70’s. 

Moving averages (SPX): Currently trading above all the major moving averages. 

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Industries to Watch Today

Energy is still a beast, while Financials finally woke up. Industrials still very bullish, and Technology still rallying hard. Basic Materials showing some slowing, while Healthcare showed some profit taking yesterday. 
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My Market Sentiment

The stock market is well over-extended at this point. Can it keep climbing? Certainly, but the market’s risk/reward at this juncture, isn’t the most favorable. 

S&P 500 Technical Analysis

swing trading strategy report 113

Current Stock Trading Portfolio Balance

  • 7 long positions

Recent Stock Trade Notables:

  • US Steel (X): Long at 35.38, sold at 36.90 for a 4.3% profit. 

See my entire swing-trading past performance here

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