My Swing Trading Approach

I will look to earn 1-2 new positions to the portfolio today on market strength today. 

Indicators

  • VIX – Fifth straight day trading lower, likely to see more again today. Still elevated over the average levels seen in 2017. 
  • T2108 (% of stocks trading below their 40-day moving average): Not much movement yesterday, but sitting at the 2/27 highs, which bodes well for SPX going forward. 
  • Moving averages (SPX): SPX sitting just below the 50-day movement and will break it at the market open, while holding the 5-day and 10-day moving averages. 
  • RELATEDPatterns to Profits: An Intro Trading Course

Industries to Watch Today

Staples and Utilities led the way yesterday. Be weary of Energy and Basic Materials – both of which are difficult sectors at the moment. Discretionary and Technology are the two top sectors to watch today, followed by Industrials and Financials
patterns to profits email

My Market Sentiment

Employment number came in strong, but the market did not sell it. Instead the market is looking at a potential move back above the 2/27 highs. Also, the downtrend off of the January highs will be broken today. 

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 3 Long positions

Recent Stock Trades – See My Past Performance Here. 

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