My Swing Trading Approach

I will be looking to manage my existing positions first, and may let my portfolio ride out here, rather than adding new positions today. 

Indicators

  • VIX – Three day winning streak snapped, and despite the huge market rally to start the year, VIX remains higher on the year. Very odd!
  • T2108 (% of stocks trading below their 40-day moving average): The lack of breadth in this market was clearly seen in this indicator with there being a slight negative return on Friday. 
  • Moving averages (SPX): Tested the 5-day moving average yesterday, but held. 
  • RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Every sector traded higher on Friday with the exception of Real Estate, which is one area of the market I have no desire to trade. Utilities were flat, the chart shows the first possibility of a bottom in a long time. Technology snapped out of its bull flat pattern. Healthcare has gone parabolic. Industrials are finally rallying again, after its two week consolidation period. Basic Metals starting to move again. 
patterns to profits email

My Market Sentiment

Considering SPX was higher by 1.2% and the Market breadth was barely positive, is not something to be overly excited about. However, it is the trend of the market, and has yet to falter on any time-frame. As a result, the trade direction with the least resistance remains to the upside, and it will continue to be focus my trading for the time being. 

S&P 500 Technical Analysis

swing trading strategy report 128

Current Stock Trading Portfolio Balance

  • 7 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. 

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