My Swing Trading Strategy

I booked gains in Amazon (AMZN) for a +2.7% profit as well as Microsoft (MSFT) for a +3.1% profit. Both solid trades. I am only left with one long position coming into Monday. I will look to see whether the morning weakness holds and if it does, consider adding a short position or two to the portfolio. 

Indicators

  • Volatility Index (VIX) – Small pop on Friday of 4.4% resulting in a doji candle pattern and the potential for a short-term bottom and pop higher. 
  • T2108 (% of stocks trading above their 40-day moving average): Lower-lows and lower-highs still in place and it suggests that this market has more room to fall in the coming weeks. 
  • Moving averages (SPX): Could break back above and hold that break above the 10-day moving average. The 50-day moving average was also broken too. Expect the 5-day MA to get taken out at the open today.
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Only Telecom and Utilities traded higher on Friday, while Technology and Energy lagged the entire market.  For a full sector analysis, check out my latest post here. patterns to profits email

My Market Sentiment

Futures opened up  on a positive note Sunday night, but couldn’t hold it into the Monday open as the trade war starts to permeate its way through Tech as well. Watch for a bounce attempt at the open, otherwise, assume that lower prices are likely from here, including a test of the 2800 level, which if broken, would confirm a head and shoulders pattern. 

S&P 500 Technical Analysis

swing trading strategy report 442

Current Stock Trading Portfolio Balance

  • 10% Long

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • fading the gap

    Fading the Gap: How Large Overnight Moves in SPY and QQQ Play Out During the Trading Day

  • how to trade a bear flag

    How to Trade a Bear Flag

  • Technical Analysis vs Market Conditions

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