Swing Trading Strategy:

I took partial profits in a number of positions yesterday including +6% in Thor Industries (THO), +4% in Facebook (FB) and +5% in Coupa Software (COUP). I took a loss in my first foray into the crypto world by trading Grayscare Bitcoin Trust (GBTC). I think it could bounce here, but the overnight gaps and how close it was to my stop-loss didn’t make it worth me holding. I did add another long position to the portfolio and I have 

Indicators

  • Volatility Index (VIX) – VIX managed to pop a good deal, over 8% yesterday, but well off the overall highs of the day when it gave up about 2/3’s of its overall gains on the day before the close. Downtrend off of the December 2018 highs were in play and the rejected price. 
  • T2108 (% of stocks trading above their 40-day moving average): Such an odd divergence and reason why I actually added a long position yesterday was the fact that T2108 rose 4%, despite SPX being down 13 points. A bullish divergence there. 
  • Moving averages (SPX): Broke below the 5-day moving average and likely to open below the 10-day MA today. 
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Sectors to Watch Today

Real Estate, Utilities, and Financials were the big winners yesterday, while Technology took the lion’s share of the selling. Real Estate’s rebound was huge, while I would continue to remain clear of Energy and Materials. 
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My Market Sentiment

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