My Swing Trading Approach
I will look to add 1-2 new long positions to the portfolio should the market conditions cooperate. I will also consider adding a short position as well to hedge against a potential pullback.
Indicators
VIX – 2% pop yesterday, but most of its gains were wiped out.
T2108 (% of stocks trading below their 40-day moving average): Fell 3.4% to 51%. Despite the market making new all time highs on a daily basis, only 51% of stocks are trading above their 40-day MA.
Moving averages (SPX): Trading above all the moving averages.
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Industries to Watch Today
Only Utilities and Consumer Defensive were traded higher. Two sectors that traders tend to flock to when becoming concerned about market conditions.
My Market Sentiment
I’m not expecting any major moves out of the market here. Some consolidation followed by incremental moves.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 long positions
Recent Stock Trade Notables:
- Twitter (TWTR): Long at 20.34, sold at 22.06 for an 8.5% profit.
- Micron (MU): Long at 45.61, sold at 47.91 for a 5.1% profit.
- TNA: Long at $61.00, sold at $64.08 for a 5.1% profit.
- Micron (MU) Long at $43.20, sold at $44.78 for a 3.7% profit.
- Alibaba (BABA): Long at $186.42, sold at 179.29 for a 3.8% loss.
- Paypal (PYPL): Long at $74.18, sold at $73.29 for a 1.2% loss.
- Square (SQ): Long at $36.00, sold at $37.35 for a 3.8% profit.
- Adobe (ADBE) : Long at $175.20, sold at $179.62 for a 2.5% profit.
- Alibaba (BABA): Long at $187.00, sold at 181.77 for a 2.8% loss.
- Paypal (PYPL): Long at $71.94, sold at $72.98 for a 1.5% profit.
- Lam Research (LRCX): Long at 210.41, sold at $205.20 for a 2.4% loss.
- Baidu (BIDU): Long at $242.80; sold at 248.29 for a 1% profit.
- Nvida (NVDA): Long at $195.17, sold at $204.88 for a 5% profit.
- 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.
