My Swing Trading Approach

Once resistance looks like it wants to break, and the market is trading confidently above the March highs, I will look to add 1-2 new long positions. 

Indicators

  • Volatility Index (VIX) – Looks like it wants to crash and burn again after selling the rip yesterday. Down 7.7% to 12.58. VIX bulls still unable to really push this indicator higher following the market opens. 
  • T2108 (% of stocks trading above their 40-day moving average): Interesting that there was barely a move (less than 1%) on this indicator. I would have suspected a +7-10% move, at least. Keep an eye on this negative divergence. 
  • Moving averages (SPX): Tested and bounced the 5-day moving average yesterday. Currently trading above all the major MA’s. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Technology is reasserting its dominance among all other sectors. Healthcare is right behind them too. Industrials showing signs of life, but still has some work to do. Energy held the bears off yesterday, keeping them from driving the sector lower significantly, for a second straight day. Discretionary again, needs to be considered in your game plan going forward. 

patterns to profits email

My Market Sentiment

SPX is sitting on a key resistance level. Very possible we see the market fade the move and try to establish the beginnings of a possible short-term double top. More likely that the bulls will eventually take out this price level in the near future. 

S&P 500 Technical Analysis

swing trading strategy report 242

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

You Might Like

  • Emotional Trading Destroys

    Emotional Trading Destroys | Podcast Episode #465

  • Short-term bounce

    The Anatomy of a Short-Term Bounce

  • January Barometer: As January goes, so goes the year.

    January Barometer: As January Goes

Leave A Comment