Swing Trading Strategy:

Trimmed some positions yesterday, that included +15% in Square (SQ), +7% in Advanced Micro Devices (AMD), +2% in Tesla (TSLA) and +3% in Switch (SWCH). I am open to adding more positions to the portfolio this morning, and quite ready for a possible market pullback should it happen. 

Indicators

  • Volatility Index (VIX) – Attempted to bounce yesterday but immediately saw the VIX sellers come in. Still finished 3% highs to close at 14.15. 
  • T2108 (% of stocks trading above their 40-day moving average): A 2.4% dip yesterday with a slight  market dip. Still lagging overall market strength.
  • Moving averages (SPX): Trading above all the major moving averages. 
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Sectors to Watch Today

Utilities led the way higher, followed by Real Estate and Staples. All of which are defensive positioning by investors. Energy still lacking any real market bounce, despite being heavily oversold. Weakness in Materials is lagging as well, and should be avoided. 
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My Market Sentiment

swing trading strategy outlook 594