My Swing Trading Approach

I may add 1-2 new swing trades if the market is determined to bounce here today. 

Indicators

  • Volatility Index (VIX) – Finally managed to break the downtrend off of the February 9th highs. Still needs to establish a higher-high though. 
  • T2108 (% of stocks trading above their 40-day moving average): A rare bullish divergence yesterday saw the T2108 actually climb 3.1% higher to 55%. 
  • Moving averages (SPX): Barely broke the 10-day moving average, though I would still consider it holding, as it wasn’t a clear violation. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Utilities put together a strong showing yesterday and broke out of recent consolidation and through previous long-term resistance.  Staples rallied and avoided the major breakdown yesterday, while Industrials is sporting a very solid bull flag pattern on the daily. Discretionary and Technology needs to bounce here. 
patterns to profits email

My Market Sentiment

Bull flag pattern forming on the daily chart, but weakness in technology and the Nasdaq as a whole is concerning. Watch short-term support at 2863. 

S&P 500 Technical Analysis

swing trading strategy report 280

Current Stock Trading Portfolio Balance

  • 2 Long Positions

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • Technical Analysis vs Market Conditions

    Technical Analysis vs Market Conditions: How to Know What’s Affecting Your Trades

  • swing trading strategies in market corrections

    Trading Market Corrections with Swing Trading Strategies

  • Short-term bounce

    The Anatomy of a Short-Term Bounce