My Swing Trading Approach

Let’s see if this opening gap holds in the early going, and from there, I will add 1-2 new long setups to the portfolio. 

Indicators

VIX – Massive spike on erroneous ABC/Trump report. Gave up nearly all the gains on the day. Typical behavior for this indicator, in this market. 

T2108 (% of stocks trading below their 40-day moving average): rose 0.25% yesterday. 60% of stocks remain above their 40-day moving average. 

Moving averages (SPX): Broke the 5-day and 10-day moving averages, but rallied back above them before the close of trading. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Financials taking a breather the last two days, but will look to run today. Energy still the rally warrior of late. Technology needs to bounce  here after testing the 50-day MA on Friday. 

My Market Sentiment

Friday was a rough day, especially as the sell-off came a on a fake news report. Nonetheless, I’ll provide the market with a fresh perspective to show me what it is  capable of doing as it looks to establish new all time highs, yet again. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 4 long positions

Recent Stock Trade Notables:

• Square (SQ): Long at $41.28, sold at 42.29 for a 2.2% profit.
• 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. 

See my entire swing-trading past performance here.