My Swing Trading Approach
I added some long exposure on the dip yesterday, I may add more depending on the price action today. My main focus will be to increase the stops on my existing trades.
Indicators
VIX – Very bearish sell-off at the 200-day MA on VIX, to close 2.5% lower on the day.
T2108 (% of stocks trading below their 40-day moving average): Not as much selling as I would have thought. 1.8 points down to 63.5%, still consider this indicator a concern to the overall health of the market.
Moving averages (SPX): Broke the 5-day moving average intraday, but closed above it at the close.
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Industries to Watch Today
Financials led the way yesterday, and over the last six days, it is the industry to be in. Energy consolidating, and could be primed for the next leg higher. Consumer Defensive seeing some significant selling of late, along with Communication Services, Real Estate and Utilities – none of which I want to be trading right now. 
My Market Sentiment
Yesterday gave the market its first sell off in 2018, and it was much needed for the bulls to take a breather. I’m looking for a bounce here today.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 6 long positions
Recent Stock Trade Notables:
- US Steel (X): Long at 35.38, sold at 36.90 for a 4.3% profit.
