My Swing Trading Approach

Like yesterday, I am not opposed to adding additional positions to the portfolio, but I need to see that the market wants to break out of the consolidation – because so far I have yest to see it. As a result, a more conservative approach is necessary, until the breakout happens. 

Indicators

  • VIX – Hard sell-off yesterday. Despite the opening strength, it sold off all day long. Still remains in consolidation. 
  • T2108 (% of stocks trading below their 40-day moving average): Back above 66% and sitting right on resistance. Today will be key for the indicator to push higher, and bring the market with it. 
  • Moving averages (SPX): Reclaimed the 5-day and 10-day moving averages intraday. Still trading above all the major moving averages. 
  • RELATEDPatterns to Profits: Free Training Course

Industries to Watch Today

Real Estate sector is coming alive, while Technology is exhibiting an enticing bull flag pattern. Discretionary steadily pushes higher, bit-by-bit. Healthcare appears poised for a breakout of consolidation in the near future – similar case with Financials
patterns to profits email

My Market Sentiment

Strong rally off of the lows of the day, yesterday. Futures are opening up again with some weakness. Expect continued choppiness until the market can breakout or breakdown out of the current trading range. 

S&P 500 Technical Analysis

swing trading strategy report 208

Current Stock Trading Portfolio Balance

  • 3 Long Positions

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • Emotional Trading Destroys | Podcast Episode #465

  • The Anatomy of a Short-Term Bounce

  • January Barometer: As January Goes

Leave A Comment