My Swing Trading Approach
I will look to add a new position to the portfolio today and continue to manage the potential downside risk that this market still poses. Raising stops are critical in this market and must continue going forward to lock in profits.
Indicators
- VIX – Another flat trading session. Some resistance at the 200-day MA, and poised to move lower in the coming weeks.
- T2108 (% of stocks trading below their 40-day moving average): A challenge looms at 66% on this important indicator. A break of declining resistance here, would push price higher in the coming days.
- Moving averages (SPX): Wedged in between the 5 and 10-day moving average – Likely to gap above the former at the open.
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Industries to Watch Today
Energy is still the best sector along with Technology and Discretionary. Budding sectors to watch are the Industrials and Healthcare. Financials are unfortunately languishing of late. Steer away from Staples and Utilities. 
My Market Sentiment
The bulls have a chance today to break out of the bull flag formed last week. The key will be whether it is sustained into the close. Watch for whether the volume comes in as well.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 4 Long Positions
