My Swing Trading Approach

I’m not overly crazy about adding additional long exposure at this point. At most I’ll add 1-2 new positions, and likely at the expense of subtracting an existing position from the portfolio. 

Indicators

VIX – Bounced higher by 2.6% to 10.18. Second straight day of gains. 

T2108 (% of stocks trading below their 40-day moving average): Declined for a second straight day, dropping 2% down to 57%. Another notable bearish divergence that has formed. 

Moving averages (SPX): Currently trading above all major moving averages. 

RELATED: Patterns to Profits: An Intro Trading Course

Industries to Watch Today

Basic Materials continuing to romp higher. Healthcare coming up on major resistance. Defensive breaking out of its coil as is Industrials. Utilities could see a 2-3% pullback here. 

My Market Sentiment

SPX continues to struggle with holding intraday gains into the close. Mornings open up strong, while the afternoons trade weaker. Breadth remains a huge problem for the market as well. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

• 5 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.