My Swing Trading Strategy

The last two trading sessions have seen the bulls slip in holding their intraday gains, so at this point, I am not willing to add more positions to the portfolio until the uptrend shows signs of wanting to resume moving higher.  

Indicators

  • Volatility Index (VIX) – Finished higher by a smidge yesterday, and still holding its 50-day moving average. No clear edge here on the indicator in terms of direction. A break of the 6/3 highs or 5/22 lows would determine direction going forward. 
  • T2108 (% of stocks trading above their 40-day moving average): A slight decline of less 1% yesterday, has this indicator still diverging lower. 
  • Moving averages (SPX): SPX currently trading above all of its major moving averages. 
  • RELATEDPatterns to Profits: Training Course

Sectors to Watch Today

Materials continues its huge rally off of the June lows. Growth sectors showing more of a willingness to consolidate, while Utilities could be setting up for a bounce here, following three days of declines. Energy continues to exhibit weakness overall, and hasn’t participated in the rally nearly to the extent of the other sectors. 
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My Market Sentiment

SPX broke above the right shoulder yesterday on the daily chart as shown below but was only able to close right on the resistance level. Also a higher-high has formed with yesterday’s  early morning move. 

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 30% Long

Recent Stock Trades – See My Past Performance Here.