My Swing Trading Approach

The bulls are regaining a firm grasp on this market and the bears are being forced to cover in mass. I will look to add 1-2 new positions today. 

Indicators

  • VIX – With many areas of headline risk melting away, the VIX indicator is struggling to maintain its recent bullishness. Yesterday it dropped 7.9% down to 15.25. Look for a retest of the March lows. 
  • T2108 (% of stocks trading below their 40-day moving average): Another massive move by the bulls yesterday, taking the T2108 up another 11% to 61%. Right now it is as bullish as it was back in January when the market was running hot. 
  • Moving averages (SPX): All the major MA’s have been cleared, and that includes the 50-day MA that it gapped above yesterday. 
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Industries to Watch Today

Technology taking back its place as the market leader with a huge move yesterday with a massive beat by Netflix (NFLX). Discretionary broke out yesterday and looks to retest its Feb/Mar highs. Financials continue to struggle and I’ve stayed away from them of late. 
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My Market Sentiment

The 50-day moving average was broken yesterday with ease, via a gap up at the market’s open, that was never relinquished. Declining resistance coming up on SPX off of the January highs. Expect it to be a major test for the bulls and whether it can sustain the current market rally. 

S&P 500 Technical Analysis

swing trading strategy report 182

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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