My Swing Trading Approach

Three day weekend ahead of us, with the market closed on Monday. I may add a new position if the market holds the early morning gains, and the right opportunity presents itself. I will continue increasing my stops to protect profits. 

Indicators

  • VIX – Even with yesterday’s rally in equities, the VIX still rose 0.6% to 9.88. 
  • T2108 (% of stocks trading below their 40-day moving average): Finally a BIG MOVE! Rose 8.6% yesterday to close at 69%. Still has room to move higher, but the bearish divergence is looking less threatening with that move yesterday. 
  • Moving averages (SPX): Still holding on to the 5-day moving average and all the other MA’s. 
  • RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Energy remains the strongest sector, with Basic Materials right behind. Both are sporting parabolic trend lines. Technology consolidated over the past five days. 
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My Market Sentiment

Keep riding the trend. Don’t be irrational along the way, but move those stops up. It won’t last forever, so always be prepared. 

S&P 500 Technical Analysis

swing trading strategy report 118

Current Stock Trading Portfolio Balance

  • 5 long positions

Recent Stock Trade Notables:

  • Fifth Third Bancorp (FITB): Long at 30.92, sold at 31.80 for a 2.9% profit.
  • 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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