The bulls are dropping the ball today, following a solidly bullish week, where SPX traded higher each day. 

The problems lie with big tech today, which are absolutely getting slaughtered – even Amazon (AMZN) had a moment, where it came within a few bucks of its 50-day moving average. Then you have Apple (AAPL) which is trading lower by more than 2.3%. 

When both are down, you can’t expect much from the market, much less from the tech sector. 

Unless there is some buyers that start to lift those stocks, I am likely to stay on the sidelines for the rest of the day. Sure there is strength in Energy and Materials, but neither sector has exhibited much strength of late. There’s some possibilities for Utility stocks, but I’d rather just short the market then jump in those heavily. 

For now, I am sitting on the sidelines, waiting for better sailing. This is why I took some profits in a couple of positions last week, because the bulls were just simply not showing enough gusto to the upside, and today, we are seeing the results of what happens, when there simply aren’t a lot of interested buyers, and stocks as a whole lags general market bullishness. 

Here’s my bullish swing-trades that I am following, but at this moment, I have yet to take on a new position in over two trading sessions. 

swing trading bullish watch list 9 17 18

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