My Swing Trading Approach
Wait and see for this market. I have some long exposure, but the market has to show that it can sustain this bounce from Friday, in order for me to add more swing-trades to the portfolio.
Indicators
- VIX – Dramatic sell-off in the VIX pushing it back below 20 again, following a 12% sell-off.
- T2108 (% of stocks trading below their 40-day moving average): 18% rally on Friday. Overall, there is a bullish divergence that has developed on this indicator with higher-lows being formed.
- Moving averages (SPX): Bounced off the 200-day moving average last week. Broke back above the 5-day moving average for the first time since March 13th.
- RELATED: Patterns to Profits: An Intro Trading Course
Industries to Watch Today
Energy led the way higher on Friday, and continues to consolidate in a sideways fashion. Potential double bottom has formed in Basic Materials. Utilities continue improving, while Technology, Financials, Industrials and Discretionary bounced at a key moment on Friday, but needs the follow through today. Defensive potentially displaying a dead cat bounce into resistance, .
My Market Sentiment
The market bounced well on Friday. However, it can’t afford not to follow through on the momentum displayed on Friday. Since early March, the bulls have been unable to string together consecutive days of gains. There is notable support underneath the market, right around the 200-day moving average.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 Long Positions
Welcome to Swing Trading the Stock Market Podcast!
I want you to become a better trader, and you know what? You absolutely can!
Commit these three rules to memory and to your trading:
#1: Manage the RISK ALWAYS!
#2: Keep the Losses Small
#3: Do #1 & #2 and the profits will take care of themselves.
That’s right, successful swing-trading is about managing the risk, and with Swing Trading the Stock Market podcast, I encourage you to email me (ryan@shareplanner.com) your questions, and there’s a good chance I’ll make a future podcast out of your stock market related question.
In today's episode, at episode 500, I am diving into the lessons learned from trading over the last 100 episodes, because as traders we are evolving and always attempting to improve our skillset. So here is to episode 500, and to another 500 episodes of learning and developing as swing traders in the stock market!
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*Disclaimer: Ryan Mallory is not a financial adviser and this podcast is for entertainment purposes only. Consult your financial adviser before making any decisions.
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