My Swing Trading Approach

There will be a substantial bounce to play at some point in the future. I will sit on the sidelines until that time is unveiled. 

Indicators

  • VIX – Biggest move yesterday in the history of the indicator, rallying 115% to 37.32. The move higher is likely to continue into today. 
  • T2108 (% of stocks trading below their 40-day moving average): Extreme oversold reading on T2108 with a 49% decline, and 19.4 reading. 
  • Moving averages (SPX): 50-day moving average was sliced right through. Now the 200-day MA is in play. 
  • RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Nothing was spared after yesterday’s sell-off. Each sector saw losses ranging between 2% and 4.1%. Each sector is sporting a broken chart.
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My Market Sentiment

There’s no doubt the market is extremely oversold. A massive market bounce is coming. It is a matter of “when” that perplexes traders. Wait for the bounce to start unfolding before making your move. For now, this market could easily continue its meltdown. 

S&P 500 Technical Analysis

swing trading strategy report 134

Current Stock Trading Portfolio Balance

  • 1 long positions

Recent Stock Trades – See My Past Performance Here. 

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