My Swing Trading Approach

Raise the stops on existing long positions, and maintain the flexibility to get short as I have done over the past week of trading. Short setups are in play, if the weakness doesn’t immediately get bought up at the open. 

Indicators

VIX – Dropped 2.3% yesterday but should spike hard today. Potential for a 15-25% move higher. 

T2108 (% of stocks trading below their 40-day moving average): Continues to weaken dropping another 1% to 67%. Nothing major, but there is a good chance for that to rapidly drop today as well. 

Moving averages (SPX): The 5-day and 10-day moving averages will be broken right at the open today. 20-day moving average is in play as well. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Technology and Financials led the way, while Energy is starting to roll over, following a strong August and September.

My Market Sentiment

Today is showing more downside in the pre-market, than the market has shown as a whole for more than a month and a half.  Because of the tight trading range of late and the gradual melt up, a significant sell-off of 1-2% has the potential to cause a lot of technical damage on the charts. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 3 long positions

Recent Stock Trade Notables:

• Lam Research (LRCX): Long at $185.23, sold at $192.24 for a 3.8% profit.
• Starbucks (SBUX): Long at $55.59, sold at $54.94 for a 1.1% loss. 
• Illinois Tool Works (ITW): Long at $148.63, sold at $151.23 for a 1.8% profit.
• Nvdia (NVDA): Long at $180.18, sold at $187.38 for a 4% profit. 
• Olin Corp (OLN): Long at $34.37, sold at $36.14 for a 5.2% profit.
• Lowe’s (LOW): Long at $77.97, sold at $81.52 for a 4.6% profit
• IBB: Long at $330.91, sold at $338.25 for a 2.2% profit. 
• Seagate Technologies (STX): Long at $34.35, sold at $33.89 for a 1.3% loss. 
• Wynn Resorts (WYNN): Long at $149.65, sold at $147.14 for a 1.7% loss. 
• Imax Corp (IMAX): Long at $23.03, sold at 22.26 for a 3.3% loss. 
• Marriott International (MAR): Long at $106.26, sold at $108.26 for a 1.9% profit. 
• Alibaba Group (BABA): Long at $170.63, sold at $170.29 for a 5.0% profit. 
• Workday (WDAY): Long at $106.91, sold at $104.90 for a 1.8% loss. 
• Nvdia (NVDA): Long at $170.45, sold at $187.94 for a 10.3% profit. 
• Tyco Connectivity (TEL): Long at $80.15, sold at 82.58 for a 3% profit. 
• Netflix (NFLX): Long at 177.75, sold at 182.30 for a 2.6% profit. 
• Micron (MU): Long at $31.12, sold at $31.94 for a 2.6% profit. 
• WYNN Resorts (WYNN): Long at 138.20, sold at $141.37 for a 2.3% profit. 
• Netflix (NFLX): Long at $168.69, sold at $173.06 for a 3% profit. 
• PSQ: Long at $39.28, sold at $38.34 for a 2.3% loss. 
• SPXU: Long at $14.68, sold at $15.42 for a 5.0% profit.
• Tesla (TSLA): Long at 365.09, sold at 356.15 for a 2.4% loss. 
• United Parcel Service (UPS): Long at 113.58, sold at $114.74 for a 1% profit.
• First Solar (FSLR): Long at $48.07, sold at $49.10 for a 2.1% profit. 
• Facebook (FB): Short at $168.31, covered at $170.62 for a 1.3% loss. 
• SDS: Long at $49.81, sold at $48.88 for a 1.8% loss. 
• SPXU: Long at $14.51, sold at $15.25 for a 5.1% profit.
• Zayo Group (ZAYO): Long at 32.91, sold at 33.83 for a 2.8% profit. 
• JP Morgan Chase (JPM): Long at $94.91, sold at $93.83 for a 1.1% loss.
• Bank of America (BAC): Long at $24.48, sold at $25.01 for a 2.2% profit. 
• Alibaba Group (BABA): Long at $151.69, sold at $153.43 for a 1.2% profit. 

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