My Swing Trading Approach
I am looking to play the bounce this morning. Will look to add 1-3 new positions to the portfolio today, should the bounce hold. Clear risk/reward setup with this market going forward.
Indicators
- VIX – Finished higher by 1.6% yesterday. Remains elevated and at a crossroads here.
- T2108 (% of stocks trading below their 40-day moving average): Small bounce yesterday despite the market finishing lower. This Indicator continues to trend favorably for the bulls with a series of higher lows.
- Moving averages (SPX): SPX held the 200-day moving average yesterday and continues to keep the bears from breaking this key MA.
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Industries to Watch Today
Real Estate and Staples led yesterday, and were the two strongest sectors. Despite the market finishing slightly lower, the majority of sectors finished higher. Basic Materials and Technology were weakest. Financials showing relative strength. 
My Market Sentiment
Should the market bounce today, we could see a solid play off of the 200-day moving average that sends the market much higher. Overall though, the market is still sketchy and prone to sell the rip.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 100% Cash
