My Swing Trading Approach

I held all my positions overnight, while adding one additional play to the portfolio. I will be raising my stops today, while also playing it cautious as today is the last day of the quarter. 

Indicators

  • Volatility Index (VIX) – Bounced off the lows of the day, and continues to struggle with a break of the 20-day moving average. I expect a bounce at the open, but the bears have really struggled to hold the gains over the past few months. 
  • T2108 (% of stocks trading above their 40-day moving average): Only 39% of stocks are trading above the 40-day moving average, and only a 1.3% bounce yesterday. Overall, there are a lot of oversold stocks here, and I expect a bounce in the coming days from this indicator.   
  • Moving averages (SPX): Recaptured the 10-day moving average, abut still below the 5-day. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

I did an in-depth analysis on each sector that you can read right  here. 
patterns to profits email

My Market Sentiment

The bulls continue to squander market gains in the afternoon. Just like Wednesday, yesterday, we saw a steady decline that wiped out the majority of the day’s gains. Now it is dealing with a critical trend-line and a gap down at the open today. Recover by the close, or break the current trend-line.  

S&P 500 Technical Analysis

swing trading strategy report 296

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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