My Swing Trading Approach

I’m going to raise the stops where it is appropriate, and likely hold off adding any new long positions, unless the market can stabilize and rally. 

Indicators

  • VIX – Dropped another 5.6% yesterday. and back below the 20 mark, to 18.94. A move back to 15, where support lies, seems likely. 
  • T2108 (% of stocks trading below their 40-day moving average): Highest close since March 12th, with a close at 50% – a very bullish chart despite all the selling that the market has seen of late.  
  • Moving averages (SPX): A test of the 20-day moving average, which could be a challenge for the market, looks to be in order. 
  • RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Energy, Materials and Discretionary led to the upside. Technology lagged noticeably. Energy finally broke out of consolidation and above the 50-day moving average – Big move for it yesterday. Utilities still trending higher. 
patterns to profits email

My Market Sentiment

First significant rally in the market since the beginning of March. Trade War with China is still causing problems for the market. The bulls will need to step in and keep the pre-market weakness from getting out of hand. The 200-day moving average is back in the discussion today. 

S&P 500 Technical Analysis

swing trading strategy report 174

Current Stock Trading Portfolio Balance

  • 5 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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