My Swing Trading Approach

I’ll be looking to add 1-2 new positions today on market strength and ride my current crop of plays as high as they are willing to go, while moving up their stops along the way. 

Indicators

VIX – Rallied off of its lows, but remains bearish the past three days. 

T2108 (% of stocks trading below their 40-day moving average): Hardly any rebound here in T2108. Definitely a concern as it saw less than 1% improvement. Still at 67%. 

Moving averages (SPX): All the $MA are holding strong. SPX well above the 5-day, much more so than we I’ve seen over the last couple of weeks. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Industrials once again leading the way, followed by financials and technology close behind. Enthusiasm for utilities is waning, and energy is rolling over. 

patterns to profits email

My Market Sentiment

The pop on Friday was surprising, especially considering the intraday weakness the day prior. But the breadth was poor. Little anyone can do to the short side – at least for now. 

S&P 500 Technical Analysis

swing trading strategy report 62

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. 

See my entire swing-trading 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