My Swing Trading Approach

Same strategy as yesterday – with the market popping in the pre-market, if it can hold on to the gains in the early morning trading, I will be looking to add 1-2 new positions to the portfolio.

Indicators

• VIX – Up 3 days and 12 of the last 15 days. Impressive that VIX is higher on the month despite January’s impressive gains. 
• T2108 (% of stocks trading below their 40-day moving average): Dropped another 2.5%, settling at 67%. The bearish devergence is still there. 
• Moving averages (SPX): Tested the 5-day moving average yesterday, but held. 
• RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Finally, a substangial bounce in Utilities. Healthcare still running strong, and outperforming. Industrials consolidating. Energy saw profit taking. 

My Market Sentiment

Another gap higher this morning. The biggest issue, has been the hard sell-offs following the opening bell. The market is seeing sell-offs in equities, without the actual indices going down. Which is further amplified by the putrid breadth we are seeing. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 5 long positions

Recent Stock Trade Notables:

• Fedex (FDX): Long at 250.00, sold at 269.80 for a 8% profit
• Abbvie (ABBV): Long at 100.12, sold at 104.33 for a 4.2% profit
• 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.