My Swing Trading Approach

I will look to add another 1-2 positions should the rally sustain itself today, along with increasing my stop-losses as well. 

Indicators

  • VIX – A drop of 15% down to 21. Still highly elevated. 
  • T2108 (% of stocks trading below their 40-day moving average): One of the more impressive gains you’ll see, rallied 40% back up to 36%. 
  • Moving averages (SPX): Hard bounce off of the 200-day moving average, while closing just below the 5-day moving average. 
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Industries to Watch Today

The four sectors you want leading the way, in fact, led the way: Technology, followed by Consumer Cyclical, Financials and Industrials. Energy still nearing a base breakout. Technology remains the healthiest chart, but the other sectors are still dealing with serious technical breakdowns. 
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My Market Sentiment

Hard bounce yesterday off of the 200-day moving average for the second time in as many months. That is the critical support level for this market moving forward. There is also a declining trend-line off of the January highs, that should provide a challenge for price to break through, should it make it that high. 

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 3 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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