My Swing Trading Approach

Huge bullish kicking candle pattern the last two days with the S&P 500 (okay, maybe not a perfect one, but close enough). I am optimistic, the bulls will try to put together a sustainable move here going forward and will add more positions as long as the market is a willing participant. 

Indicators

  • VIX – Inside day for the VIX, but much of the prior day’s gains was wiped out yesterday. Back below 15. 
  • T2108 (% of stocks trading below their 40-day moving average): Huge push yesterday – up 15% and now at 67%. Huge move for the indicator, and bodes well for continued improvement. 
  • Moving averages (SPX): Recaptured the 5, 10 and 20 day moving averages yesterday and now above all the major MA’s. 
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Industries to Watch Today

Huge bounce in Energy yesterday, and probably shows the most upside opportunity at this point. Healthcare breaking out of consolidation, as is Real Estate. Technology and Discretionary should be the next two sectors to breakout. 
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My Market Sentiment

It is like Tuesday never happened. The market essentially wiped out a massive sell-off in one day, ignored the technical damage that it created, and sent price right back into recent consolidation. Stay bullish here. 

S&P 500 Technical Analysis

swing trading strategy report 212

Current Stock Trading Portfolio Balance

  • 2 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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