My Swing Trading Approach

Follow the trend and the market intraday action. If price action is favorable and the setups are there, I’ll take them. Meanwhile, I plan on raising the stops in my open positions where it is possible to protect profits. I expect a low volume day in the market today and that could make adding a new position today difficult. 

Indicators

  • Volatility Index (VIX) – Small drop in the VIX yesterday, but such has been the case of late – nothing big happening here. Closed at 12.14. 
  • T2108 (% of stocks trading above their 40-day moving average): Bounced hard with a 7.7% move higher yesterday taking the diverging indicator back up to 57%.  Held the rising trend-line as well.  
  • Moving averages (SPX): Price remains above all the major moving averages right now. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Utilities with rising resistance off of the January highs that it’s close to breaking through. Industrials is one of the most promising sectors right now for a big move higher. Real Estate sporting a bull flag pattern. Technology as a whole, not phased by the Facebook earnings. patterns to profits email

My Market Sentiment

Yesterday was a really interesting day – obviously Facebook’s (FB) earnings were killing the tech sector yesterday, but everything else held strong and that was evident with the positive breadth in the market despite SPX trading lower. The charts on each index remains strong, and despite uneasiness surrounding earnings, as a trader, I have to remain bullish here. 

S&P 500 Technical Analysis

swing trading strategy report 252

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Recent Stock Trades – See My Past Performance Here. 

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