My Swing Trading Strategy

One new trade was added on Friday, but I stayed put the rest of the day. I sold my position in Netflix (NFLX) for a +1.1% profit. Today the market is opening lower, so it will be important that any weakness can be contained and kept from seeping lower. 

Indicators

  • Volatility Index (VIX) – Dropped for the 8th time in the last 10 sessions and now below 13. March’s lows held, but could see further tests in the days ahead. 
  • T2108 (% of stocks trading above their 40-day moving average): Another solid increase of 7% taking the indicator up to 68%. Bearish divergence is close to being wiped out on this indicator. 
  • Moving averages (SPX): Trading above all the major moving averages. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Energy is starting to take off, and will have a chance today to break its 200-day moving average. Healthcare consolidating at the high end of its consolidation and seeing strength in biotech of late. Utilities appears ready for a bounce after a light volume pullback. 
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My Market Sentiment

Likely to see the market held back some today by weakness from Boeing’s (BA) production cut. The market is up seven straight days and due for a pullback of some kind. However, with the low volume activity seen in the market of late, I don’t expect it to be much. 

S&P 500 Technical Analysis

swing trading strategy report 413

Current Stock Trading Portfolio Balance

  • 30% Long. 

Recent Stock Trades – See My Past Performance Here. 

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