My Swing Trading Strategy

I booked profits in Adobe (ADBE) yesterday for a +5% profit. I didn’t add any new positions yesterday, but will look to add another trade today. 

Indicators

• Volatility Index (VIX) – Another test and rejection of the 5-day moving average. Interestingly enough though, the VIX is up four of the last five days, but still just sitting at 13.12, so the gains have been marginal, and I see very little worth reading into.
• T2108 (% of stocks trading above their 40-day moving average): SPX is hardly moving and as a result the breadth is very poor, as seen again on T2108 with a 0.6% decline to 62% 
• Moving averages (SPX): Price is trading above all the major moving averages now. 
• RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

A very defensive day in the market overall with Utilities, Staples and Real Estate leading the way, yesterday. Everything else was nonexistent, with the most aggressive market sectors, Energy, Technology and Discretionary holding the market back. Technology should see some bullishness today with Apple (AAPL) earnings impressing investors. 

My Market Sentiment

Today is FOMC Day at 2pm eastern and the Presser with Jerome Powell at 2:30pm eastern. If there was ever an utterly completely useless meeting, it would be this one. Simply put, the statement itself isn’t boring enough, they need to double down and do a presser too. I’m excited to see what the new month holds, if the volume continues to be low and anemic, or do we Get the “Sell in May” effect (which really isn’t even an effect but a meaningless cliche instead) and we actually see the market experience its first red month of 2019. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 40% Long. 

Recent Stock Trades – See My Past Performance Here.