My Swing Trading Approach
With the FOMC Statement coming out today, I will likely stay on the sidelines until it is released.
Indicators
- VIX – Second straight day of little to no movement in the indicator. Remains at 12.34.
- T2108 (% of stocks trading below their 40-day moving average): Flat session saw the indicator remain at 71%.
- Moving averages (SPX): Trading above all the major moving averages.
- RELATED: Patterns to Profits: Free Training Course
Industries to Watch Today
Utilities showed remarkable strength yesterday followed by Technology and Discretionary. Energy continues to struggle to find any kind of footing. Potential head and shoulders pattern forming. Financials will certainly be impacted by today’s FOMC statement. 
My Market Sentiment
Not a fan of taking part in much activity ahead of the FOMC statement, unless it is a perfect trade setup. FOMC days typically see low volume in the morning and strong volume following the statement’s release. Remember, following the FOMC, it is likely you’ll see multiple price swings.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 4 Long Positions
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