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.
- RELATED: Patterns to Profits: Free Training Course
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.
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
Current Stock Trading Portfolio Balance
- 3 Long Positions
Welcome to Swing Trading the Stock Market Podcast!
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In this podcast episode, Ryan Mallory gives insight into his trading journey that started at the very young age of 11 years old. Included in the episode was the challenges he faced, and how he ultimately became a full-time trader.
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