My Swing Trading Approach

I’m focused on managing my existing positions coming into today and the risk associated with each of them. Tech will negatively affect the market today, due to Facebook (FB) earnings. I’m not against adding more positions today, but the market will have to show it is willing to look past FB’s sell-off and buy the dip. Also, with Amazon (AMZN) earnings today, it may be best to hold off on any new positions. Lots going on with this market and necessary to take it all into consideration.

Indicators

Volatility Index (VIX) – Still boring as can be and traded only 1% lower yesterday. Should see a spike if the bulls can’t buy the market’s dip.
T2108 (% of stocks trading above their 40-day moving average): Trend-line being tested off of the February lows, and may get tested today. This is my number one concern with the market today is the breadth, and the weakness in tech in the pre-market certainly won’t help matters. Only finished 0.5% higher.
Moving averages (SPX): Currently trading above all the major moving averages.
RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Technology led the way yesterday, but highly don’t expect that to happen again today, unless FB has the mother of all BTFD’s. Time to start watching the Industrials today as it managed to break the downtrend off of the January highs. Healthcare breaking out to new highs. Staples broke out of consolidation finally. Financials still rocking it, and still showing the most upside.

My Market Sentiment

Today is going to be an interesting day – Facebook (FB) earnings last night were an absolute disaster, and Zuckerberg blew up the conference call with talk of “deceleration”. Amazon earnings today will be big after the market close. Whether the market decides to buy the dip or not will be key, and whether FB can pull a Netflix (NFLX) and buy the dip of their stock that has dropped 25% post earnings, will be key to today. Personally, I do think the FB sell-off is way overdone, and wouldn’t be surprised to see the bulls step in early on.

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

4 Long Positions

Recent Stock Trades – See My Past Performance Here.

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Swing Trading the Stock Market

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Emotional trading will destroy one’s portfolio. Aiming to hit home runs with every trade is a sure sign that the trader is overly emotional and only cares about fast money. In this podcast episode Ryan explains how chasing after stocks like MicroStrategy (MSTR) without a plan for managing the risk can ultimately ruin a trader’s attempt at being a successful swing-trader.

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