My Swing Trading Approach

I am a little cautious of being aggressive here following a four day rally, and an anemic rally yesterday that showed plenty of signs of the market running out of gas in the very near term. Raising my stops is a priority here.  

Indicators

  • Volatility Index (VIX) – Broke another barrier and the lowest reading since January 12th. Declined 3% to 10.93. 
  • T2108 (% of stocks trading above their 40-day moving average): a 2.5% increase taking the T2108  to 55%. Not a great reading considering the market is just a shade below its all-time highs. 
  • Moving averages (SPX): Price is trading above all the major moving averages. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Industrials continued its push higher, and could be setting up finally, for a run to new all-time highs. Technology looks tired here with yesterday’s exhaustion gap. Energy hitting resistance again off the the descending trend-line from the May highs. Financials sporting a solid inverse head and shoulders pattern. Materials still impossible to get a feel for – not breaking down, but not moving higher either – a continual sideways pattern. 
patterns to profits email

My Market Sentiment

While the market rallied higher yesterday, it also, from an intraday stand point, looked tired and ready for some consolidation or perhaps even a small pullback. Again, any pullback is fine as long as 2801 holds. 

S&P 500 Technical Analysis

swing trading strategy report 260

Current Stock Trading Portfolio Balance

  • 3 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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