My Swing Trading Strategy
I raised my stop-loss on SHOP on Friday to $351.09 on Friday and took profits there for a +2.2% profit. Not a huge gain, but by using a stop-loss it prevented a big loss. I also added one additional swing-trade on Friday. With today’s weakness I will likely play it careful today, and let the current price action play out before adding any new long positions.
Indicators
- Volatility Index (VIX) – Due for a pop after having dropped 7 of the last 8 trading sessions. Could easily see a pop back above 16 or higher.
- T2108 (% of stocks trading above their 40-day moving average): A mixed reaction on the market Friday, kept the indicator lower for a second straight day, but barely so, as it still remains at around 68%.
- Moving averages (SPX) Price is currently trading above all major moving averages, though could see a test of the 5-day MA today.
- RELATED: Patterns to Profits: Training Course
Sectors to Watch Today
For a complete sector analysis, check out my latest post. 
My Market Sentiment
Old trend-lines strike again as price is exhausted and finding reason to sell at overhead resistance. This is the best kind of resistance in the sense that it doesn’t necessarily stunt future growth, because itself keeps rising, but that it lowers the ceiling on how much can be had.
Current Stock Trading Portfolio Balance
- 3 Long Positions
