My Swing Trading Approach
At this point, it is hard to have any bias in this market while the price remains stuck in consolidation. Stay patience, stay ready. Patience defines a trader’s worth.
Indicators
- VIX – Only a minor gain compared to recent action. Right now the bulls on VIX are in control which currently looks like price consolidation of Tuesday’s move.
- T2108 (% of stocks trading below their 40-day moving average): Another big drop yesterday of 9.3%. Getting more and more volatile on this chart.
- Moving averages (SPX): Finished a smidge below the 20-day moving average while also trading below the 5-day and 10-day moving averages.
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Industries to Watch Today
Technology head faked a potential breakout today, while Energy faltered on its follow through today. Communications Services should be avoided at all costs. Financials may still, ultimately, break down. 
My Market Sentiment
It has been tough sledding for the bulls of late, but recent consolidation has this market not doing much of anything, despite finishing lower on most days of late. Patience is very much key here. Don’t force anything. Keep market exposure small until matters resolve themselves.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 Long Positions
