My Swing Trading Approach

Protect profits, and I will be careful to add any new long positions in the face of a market sell-off. May consider getting short if the sell-off sustains itself. 

Indicators

  • VIX – Downtrend off of the February 5th highs continues to provide hard resistance for the market. 
  • T2108 (% of stocks trading below their 40-day moving average): Still at 63%, not great, and looking at a possible rollover. 
  • Moving averages (SPX): Unable to reclaim the 20-day moving average. The 5-day still providing resistance as well, too. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Energy bounce hard on Friday, but I wouldn’t put a lot of stock in its strength. The market’s leading sectors of late, Technology and Discretionary led the way to the downside, and may be seeing a transition of funds from the aforementioned sectors into Energy and Materials. Too early though to say with any certainty just yet. 

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My Market Sentiment

Another weak start for the market today, threatening short-term support that has held up well over the past week. The bulls need to bounce it here, or we are likely heading for a notable pullback.  

S&P 500 Technical Analysis

swing trading strategy report 229

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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