Overbought

My Swing Trades I didn’t take any trades today, but managed to scalp a little $ROKU on the way up in the morning, but that was about it. Still holding one long and one short position as swing-trades. At this point, any new long position in a growth stock is a high risk trade, because

My Swing Trading Approach I have three positions currently in the portfolio. All profitable, but will need a pullback to justify adding a new position here. The market is certainly stretched and prime for some profit taking. Playing the dip is the best option here.  Indicators Volatility Index (VIX) - VIX has bounced the last two

My Swing Trading Approach I’m not against adding new positions to the portfolio, but right now, the risk is not in the bulls favor. A near-term pullback at some point is likely, which will create better entry prices. Keep moving up those stops! Indicators

My Swing Trading Approach There are some nice swing trade setups to be had, but I am concerned about adding additional long positions to the portfolio today. Tightening the stops will be in order.  Indicators

My Swing Trading Approach Right now, the risk-reward on trade setups are unfavorable when taking in the overall state of the market. At this point, I am looking to ride my current positions higher, while raising the stops.  Indicators

My Swing Trading Approach I’m not looking to be a hero, in terms of feeling some altruistic need, to buy the dip today. Instead, I’ll raise my stops, take my profits where necessary, and let the market decide the next move. Indicators

My Swing Trading Approach I’m still cautious towards this market while it still works off overbought conditions. More sideways trading could be in the cards, and I don’t want to overload my portfolio with long positions.  Indicators

My Swing Trading Approach Concerned about significant additions to my portfolio at this juncture. The market is overheated, and prime for some selling. I won’t short anything until the time is right, but I am more interested in protecting profits by raising stops on existing positions.  Indicators

SharePlanner Reversal Indicator is looking solid still. My only hold up is the fact that it is struggling to push back through the broken trend line. 

Technical Analysis: The Federal Reserve raised interest rates yesterday by a quarter point. Initially the S&P 500 (SPX) tried to rally on the news but quickly gave up its gains on the day to finish 0.8% down on the day.  SPX also managed to close below its 5-day moving average for the first time since 12/2