My Swing Trading Approach

I remain cautious here, as the bulls are struggling to rally the market substantially higher. Plenty of choppiness in the market. I don’t see myself adding any more than 1-2 new positions to the portfolio if conditions permit. 

Indicators

  • VIX – After a 2.8% decline yesterday, VIX is retesting the trend-line off of the March lows and is on the verge of a breakdown. 
  • T2108 (% of stocks trading below their 40-day moving average): A solid recovery off of the lows yesterday, keeps the bullishness of the T2108 intact, as it rallied 19% off of its lows of the day .
  • Moving averages (SPX): Rallied right back up to the 5-day moving average, but did not recapture it. The 5, 10 and 20-day MA’s are in view for the market. 
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Industries to Watch Today

Technology was by far the strongest sector, while staples and energy led the way to the downside. The latter of which managed to remain inside of a coiling pattern. Apple (AAPL) earnings last night, should go a long ways in helping technology once again today. 
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My Market Sentiment

The market showed signs of wanting to break down yesterday before eventually bouncing hard and finishing the day in the green. Also, the rising trend-line off of the April lows, is proving a great deal of support in the short-term. 

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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