My Swing Trading Approach

Tighten my stops, and sit tight. The key here isn’t to fight the market but to wait for favorable market conditions for trading. 

Indicators

  • VIX – Rose to 13.84 – or 25%. The highest closing since 8/18/17 and looks to push higher yet again today. 
  • T2108 (% of stocks trading below their 40-day moving average): The lack of breadth in this market was clearly seen in this indicator with there being a slight negative return on Friday. 
  • Moving averages (SPX): Tested the 5-day moving average yesterday, but held. 
  • RELATEDPatterns to Profits: Free Training Course

Industries to Watch Today

Every sector traded lower yesterday. Sectors like the Financials and Energy could see some major damage to their charts overall. Overall, I expect that if today’s selling holds the charts will show some technical damage. 
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My Market Sentiment

Price action is looking at a major gap lower that will break through the 5-day moving average, and test the 10-day moving average for the first time this year. Gaps in either direction have had a hard time remaining unfilled, but the bulls will have their work cut out for them on this one. 

S&P 500 Technical Analysis

swing trading strategy report 129

Current Stock Trading Portfolio Balance

  • 7 long positions

Recent Stock Trades – See My Past Performance Here. 

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