My Swing Trading Approach

I’ll look to take a more conservative approach to the trading session today, focusing on moving up my stops while focusing in on a few key opportunities and whether they come to fruition. 

Indicators

  • VIX – Barely a change in VIX yesterday, and remains inside of consolidation but close to another short-term breakdown. 
  • T2108 (% of stocks trading below their 40-day moving average): Not able to do much of late, and still sitting on resistance. Down 1.2% yesterday. 
  • Moving averages (SPX): Barely held on to the 5-day and 10 day moving average which have converged. 
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Industries to Watch Today

Utilities have been on a tear all week long, however, I don’t expect it to last per my Sector Report yesterday. Much needed bounce in Industrials yesterday to keep the recent rally alive. Technology poised for a breakout and Discretionary continues to trend higher. Energy continues to see major profit taking, and breaking below its 20-day moving average and is looking at another major sell-off today. 
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My Market Sentiment

The bears can’t take advantage of weakness and the bulls cannot take advantage of the strength. As a result, you have a two week period where the market really hasn’t moved in any direction. Volume has increased over the last two trading sessions, but I would not be surprised to see a quiet trading session today, ahead of the three-day Memorial Day weekend. 

S&P 500 Technical Analysis

swing trading strategy report 209

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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