My Swing Trading Approach
I want to see whether the S&P 500 can at least consolidate the gains from Friday. If so, I will look to adding another position to the portfolio.
Indicators
VIX – VIX was crushed, all the way back down to sub-10, to 9.8.
T2108 (% of stocks trading below their 40-day moving average): Big bounce out of T2108 to the tune of 5.6%, back up to 59%.
Moving averages (SPX): Broke back above the 5 and 10-day moving averages. Now holding all major MA’s.
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Industries to Watch Today
Technology – That is the big industry to be watching right now, and could continue the rally this week with strong earnings from Apple (AAPL) and Facebook (FB).
My Market Sentiment
Friday’s bounce was big for the market, and likely will lead to additional bullishness in the days ahead. Today will be key for the market to hold Friday’s gains though.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 4 long positions
Recent Stock Trade Notables:
- Humana (HUM): Long at $248.73, sold at $261.20 for a 5% profit.
- Square (SQ): Long at $32.92, sold at $34.36 for a 4.4% profit.
- Nvida (NVDA): Long at $198.17, sold at $194.06 for a 2% loss.
- Lennar Homes (LEN): Long at $56.63, sold at $58.10 for a 2.6% profit.
- 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.
