My Swing Trading Approach
I expect us to see a rally come forth at some point this week that will be hard and fast. However, while playing it is okay, committing too much capital to it is a bad thing. Be careful as it may not take place exactly when you expect. Stay nimble and light.
Indicators
- VIX – 28.5% move on Friday and finished at 17.31 – the highest close since 11/8/16.
- T2108 (% of stocks trading below their 40-day moving average): A massive spike lower of 27%. Closed the day at 38%. Lowest close since 8/29/17.
- Moving averages (SPX): 5/10-day MA cross over on Friday, and the 20-day moving average broken. The 50-day MA is now back in play.
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Industries to Watch Today
Energy, Basic Materials and Technology was the hardest hit. Every industry is showing noticable technical damage. Consumer Cyclical is holding up the best. 
My Market Sentiment
I suspect we’ll see a bounce here real soon. Dip buying dies a slow death, and not just on a moment’s notice. There is a lot of volatility in this market right now, so be prepared to see some wild price action.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 4 long positions
