My Swing Trading Approach

Keeping a slightly bearish portfolio here as the bulls continue to show the inability to rally this market thorugh key resistance levels. Though I am ready to flip to the long side if necessary.  

Indicators

VIX – Another day of selling, and nearing a sub-11 reading that will likely be seen today at the market open. 

T2108 (% of stocks trading below their 40-day moving average) – 5-day rally in play. But a minor one at that, in terms of strength. Still only 38% of stocks trading above their 40-day moving average. 

Moving averages (SPX): Still above the 50-day moving average, but end of day sell-off took price back below the 10 and 50-day moving averges.

Industries to Watch Today

Some solid setups in Chemicals, Semiconductors, and Casinos. Bear flag in Financials. Biotechs as a whole, look rough, but could change with Kite Pharma (KITE) getting bought out. 

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My Market Sentiment

A market that can’t go anywhere. Wants to sell-off, but still finds every excuse not to. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance: 

• 1 long positions, 2 short positions

Recent Stock Trade Notables:

• SPXU: Long at $14.68, closed at $15.42 for a 5.0% profit.
• Tesla (TSLA): Long at 365.09, closed at 356.15 for a 2.4% loss. 
• United Parcel Service (UPS): Long at 113.58, sold at $114.74 for a 1% profit.
• First Solar (FSLR): Long at $48.07, sold at $49.10 for a 2.1% profit. 
• Facebook (FB): Short at $168.31, covered at $170.62 for a 1.3% loss. 
• SDS: Long at $49.81, closed at $48.88 for a 1.8% loss. 
• SPXU: Long at $14.51, closed at $15.25 for a 5.1% profit.
• Zayo Group (ZAYO): Long at 32.91, closed at 33.83 for a 2.8% profit. 
• JP Morgan Chase (JPM): Long at $94.91, closed at $93.83 for a 1.1% loss.
• Bank of America (BAC): Long at $24.48, closed at $25.01 for a 2.2% profit. 
• Alibaba Group (BABA): Long at $151.69, closed at $153.43 for a 1.2% profit. 
• Salesforce (CRM): Long at $90.86, closed at $89.43 for a 1.5% loss. 
• Autodesk (ADSK): Long at $106.45, closed at $111.34 for a 4.6% profit.
• Bank of America (BAC): Long at $23.99, closed at $24.23 for a 1% profit. 
• IBB: Long at $313.18, closed at $324.25 for a 3.5% profit. 
• SPXU: Long at $14.82, closed at $14.58 for a 1.6% loss. 
• Alibaba Group (BABA): Long at $143.65, closed at $150.40 for a 4.7% profit. 
• American Airlines (AAL): Long at $49.26, closed at $51.84 for a 5.2% profit
• Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit. 
• Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit. 
• IBB: Long at $298.24, closed at $303.74 for a 1.8% profit. 
• SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss. 
• Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit. 
• Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
• Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
• American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
• Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
• Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
• Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
• Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
• SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
• JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
• Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
• Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
• Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
• Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
• Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
• Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
• Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
• Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
• Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
• Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
• Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
• UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit. 

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