My Swing Trading Approach

I held off on adding any new positions yesterday in light of the upcoming Apple (AAPL) earnings. I’ll look to add 1-2 new positions today, should the market not fade the AAPL earnings. A break below 2801, will be reason to consider getting short on the market. 

Indicators

  • Volatility Index (VIX) – Reversed all the gains from the previous day, with a 10% sell-off, taking the VIX back below 13. 
  • T2108 (% of stocks trading above their 40-day moving average): Bounce hard off of the rising trend-line for the indicator, taking it up 11% to 54%.
  • Moving averages (SPX): The 5-day moving average offered an immediate rejection, while the 10-day was broken, but late day weakness, kept price from closing above.  
  • RELATEDPatterns to Profits: Training Course

Sectors to Watch Today

Industrials with a huge rally yesterday and the market leader overall. Real Estate breaking out of a bull flag pattern. Financials declined for a fourth straight day. Energy near the breakout  level. Hard bounce off of the 20-day moving average for Healthcare. 
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My Market Sentiment

Bounce yesterday, was respectable, but lost over a third of its gains, before the close. Rejected at the 5-day moving average, and unable to close above the 10-day MA. Watch out for a possible price fade on the indices today, following a solid earnings report from Apple (AAPL), similar to Amazon’s (AMZN) from last week. 

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 1 Long Position

Recent Stock Trades – See My Past Performance Here. 

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