My Swing Trading Approach

I am open to adding one to two new positions to the market today, but price action in the overall market needs to be favorable. 

Indicators

  • VIX – The trend higher continues. Up nine out of the last ten days. This is a major concern for the market, coupled with the T2108 reading. Highest closing since 11/15/17.
  • T2108 (% of stocks trading below their 40-day moving average): Further decline in this indicator (down 4.5% to 63%) is a very troubling sign for the overall strength of this market. 
  • Moving averages (SPX): Trading above all the major moving averages. 
  • RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Communication Services has been performing well of late and may provide some solid trading opportunities. 

patterns to profits email

My Market Sentiment

I wouldn’t be surprised to see some sideways trading at current price levels. The market is also susceptible to a pullback as well. Government shutdown may create some additional volatility for the market. 

S&P 500 Technical Analysis

swing trading strategy report 122

Current Stock Trading Portfolio Balance

  • 4 long positions

Recent Stock Trade Notables:

  • Hess (HES): Long at 48.50, sold at 53.42 for a 10.1% profit. 
  • Splunk (SPLK): Long at 83.11, sold at 88.10 for a 6% profit.
  • Nvidia (NVDA): Long at 227.10, sold at 221.32 for a 2.5% loss.  
  • Square (SQ): Long at 40.41, sold at 41.16 for a 1.9% profit.
  • 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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