My Swing Trading Approach
Caution is warranted here, as the market may give up the gains of the past three days. It is important to make the market prove itself here to you, and not front run any anticipated market bounce. Let the market show you it wants to bounce first.
Indicators
- VIX – Managed to hold the rising trend-line off of the March lows, with a solid bounce
- T2108 (% of stocks trading below their 40-day moving average): A 10% decline yesterday, and while the uptrend remains in place, it is showing signs of weakening of late, and possibly creating a lower-low, if we see additional selling this week.
- Moving averages (SPX): The 5-day and 20-day moving averages were broken yesterday, and looks very vulnerable to another retest of the 200-day moving average.
- RELATED: Patterns to Profits: Free Training Course
Industries to Watch Today
Only Energy managed to trade higher yesterday. Remains in a coil, waiting for a breakout. Technology exhibited relative strength, but going forward will largely be decided by Apple’s (AAPL) earnings tonight. 
My Market Sentiment
Yesterday’s sell-off was a discouragement for the bulls as the market engulfed the previous two trading candle bodies, while also losing two key moving averages. Strong possibility we see a retest of the 200-day moving average, if the market cannot bounce today.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 Long Positions
