My Swing Trading Approach
I am still taking a cautious approach with this market while it is stuck in consolidation. I added one new position yesterday, and may add another today, but will not be overly aggressive with my trading, until we can get some kind of breakout.
Indicators
- VIX – Volatility increased by another 1.3% yesterday and closed at 21.77.
- T2108 (% of stocks trading below their 40-day moving average): Stocks gave up their gains yesterday, and T2108 barely showed any improvement.
- Moving averages (SPX): The 200-day moving average still remains in play. The 20-day moving average is still an area of significant resistance to be reckoned with.
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Industries to Watch Today
Healthcare and Technology led the way. Industrials and Consumer Cyclical struggled, with the former showing signs of possibly breaking down in the near-term. Energy remains in a basing pattern, and poised to try breaking out of it once again. 
My Market Sentiment
Multi-week consolidation pattern keeping price contained. Yesterday’s rally was quickly faded in the final hour of trading. Any move that is to be taken seriously, needs to break out of the box.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 Long Positions
