My Swing Trading Approach

Should this rally continue into today, 1-2 new positions is likely for the portfolio. I will also continue raising my stops on my profitable positions. 

Indicators

  • VIX – Continuing its trend higher despite the overall market bullishness. Up 2.1% to 11.91 despite the market hitting new all time highs. Up eight out of the last nine days. 
  • T2108 (% of stocks trading below their 40-day moving average): Meager bounce yesterday, considering the size of SPX’s bounce. Only at 66%. 
  • Moving averages (SPX): Tested the 5-day moving average but held well. Following the 5-day moving average very well. 
  • RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Some signs of life in Utilities and Staples finally breaking out. Financials and Energy are two solid trenders, as is Healthcare. Technology lead the way. 

patterns to profits email

My Market Sentiment

Until there is a definitive change in the market’s technicals, there is no reason to be anything but bullish on this market. 

S&P 500 Technical Analysis

swing trading strategy report 121

Current Stock Trading Portfolio Balance

  • 5 long positions

Recent Stock Trade Notables:

  • Hess (HES): Long at 48.50, sold at 53.42 for a 10.1% profit. 
  • Splunk (SPLK): Long at 83.11, sold at 88.10 for a 6% profit.
  • Nvidia (NVDA): Long at 227.10, sold at 221.32 for a 2.5% loss.  
  • Square (SQ): Long at 40.41, sold at 41.16 for a 1.9% profit.
  • Fifth Third Bancorp (FITB): Long at 30.92, sold at 31.80 for a 2.9% profit.
  • US Steel (X): Long at 35.38, sold at 36.90 for a 4.3% profit. 

See my entire swing-trading past performance here. 

You Might Like

  • Short-term bounce

    The Anatomy of a Short-Term Bounce

  • January Barometer: As January goes, so goes the year.

    January Barometer: As January Goes

  • Swing Trading the Holidays