My Swing Trading Approach

Today, I will look to add 1-2 new long positions, if the bulls can squeeze the bears and drive this market higher. 

Indicators

  • VIX – 18% rally, failed to break March 23rd’s highs, despite SPX breaking that’s day’s price lows. VIX currently sitting at 23.62. 
  • T2108 (% of stocks trading below their 40-day moving average): It still surprises me that this indicator has held up as well as it has. Again, like the VIX, it failed to break below March 23rd’s lows. 
  • Moving averages (SPX): Lost the 5-day moving average again, but most importantly was the break of the all-important 200-day moving average. 
  • RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Technology and Discretionary were tied for the day’s biggest losers yesterday, with Healthcare right on its tracks. No surprise that Utilities were the strongest of the bunch. Utilities chart still the best chart out there currently, followed by Technology. Discretionary has broken key support and could see further price deterioration. 
patterns to profits email

My Market Sentiment

Double bottom pattern may be in place here. A close below February’s closing lows, will create a scenario for a retest of the February intraday lows to be tested. Today is a critical day for the bulls, that they step up and rally the market higher, otherwise, the potential for further downside is strong. 

S&P 500 Technical Analysis

swing trading strategy report 171

Current Stock Trading Portfolio Balance

  • 3 Long Positions

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • how to manage your swing trades when it comes to headline risk.

    Managing Headline Risk: How to Survive the News Cycle Without Losing Your Mind

  • What to do after a winning trade

    What to Do After a Winning Trade

  • SCOTUS ruling on tariffs and its impact on the stock market.

    SCOTUS & Trump’s Tariffs: Preparing for the Verdict