My Swing Trading Approach

Plenty of long positions already in the portfolio. I will look to add 1-2 new long positions today on improved bullishness over last week. Careful not to add additional shares of anything if the market is not willing to commit to a direction. 

Indicators

  • Volatility Index (VIX) – Noncommittal. VIX hasn’t had a direction over the last two weeks. Currently at 12.86. 
  • T2108 (% of stocks trading above their 40-day moving average): Starting to lack a trend.Sideways over the last eight trading sessions. 
  • Moving averages (SPX): Rejected at the 5-day MA, but holding the 10-day MA still. Both likely to be tested yet again today. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Financials led the way, and its weekly chart shows a break of the downtrend off of the January highs. Staples continues to consolidate but on the verge of breaking out in a dramatic way. Energy hard to make sense of. Industrials still range-bound but solid over the last three weeks. Healthcare in a bull flag. Technology consolidating at the highs and remains very bullish.

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My Market Sentiment

Second straight day in the red for the market, making last week’s move that saw the market, only improve by 0.52 points. Hardly impressive. Low volume in a tight trading range, the tightest so far in 2018, continues to dominate the market. A break of last week’s highs will increase the market’s bullishness going forward, but needs to hold the 2801 level going forward, at least. 

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 5 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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