My Swing Trading Approach

I have large gains in Bank of America (BAC), Apple (AAPL) and Amazon (AMZN) after buying the dip last Friday, and have added a few more positions since. Will look to add more if there are more opportunities that arise. 

Indicators

  • VIX – Finally seeing a major sell-off in the VIX, with a 23% decline yesterday, and back below 20, settling at 19.26. 
  • T2108 (% of stocks trading below their 40-day moving average): Strong 35% bounce yesterday to 27.50. No longer oversold, but far, far away from being overbought. 
  • Moving averages (SPX): Broke above the 10-day moving average, and appears ready to test the 50-day moving average as well. 
  • RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Basic Materials was incredibly strong today, and has plenty of more room too run. To see my full analysis on each sector, check out my latest post. 
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My Market Sentiment

Hard bounce continues. Yesterday’s quick recovery following the CPI beat that most expected to tank the market, is a good sign that the market bottom is in. Yesterday’s report gave the market every reason to continue the sell-off, and instead, it did the exact opposite. 

S&P 500 Technical Analysis

swing trading strategy report 141

Current Stock Trading Portfolio Balance

  • 6 Long positions

Recent Stock Trades – See My Past Performance Here. 

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