My Swing Trading Approach

I added and subtracted from my portfolio yesterday. While, I would like to still be in an oil play going forward, I don’t want to be in one ahead of Trump’s Iran announcement. I’ll likely play it cautious ahead of the announcement at 2pm eastern. 

Indicators

  • VIX – Flat session yesterday, but on the whole, VIX shows signs it wants to push lower from here. 
  • T2108 (% of stocks trading below their 40-day moving average): Up another 5.6% yesterday and towards the 60% mark. Indicates the market health is improving. 
  • Moving averages (SPX): Held the 20-day moving average, but rejected by the 50-day moving average. 
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Industries to Watch Today

Technology was the market leader for a second straight day, followed by Real Estate and Industrials. Energy saw a massive sell-off heading into the close and lost its place as the market leader. Massive shooting star candle pattern in energy stocks right now, to be concerned with. Utilities and Staples continues to struggle, with the latter being the most bearish of all the sectors. 
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My Market Sentiment

Until a Trump tweet came out in the late afternoon, the market was holding up quite well. With Trump’s Iran announcement coming up at 2pm eastern, there may be some volatility. I suspect that Trump will pull out, but how the market will react is anyone’s guess. 

S&P 500 Technical Analysis

swing trading strategy report 196

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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