My Swing Trading Approach

I sold Schlumberger (SLB) yesterday for a +1.1% profit. I’ll be looking to add another 1-2 new positions to the portfolio today, on top of the one I added yesterday. 

Indicators

  • Volatility Index (VIX) – Popped about 10% yesterday but by the time the close rolled around, most of the gains had been given up, and only 3.1% to show for on the day. The trend lower remains in place. 
  • T2108 (% of stocks trading above their 40-day moving average): A 3.6% decline yesterday (somewhat of a rarity of late) still has the indicator above 84% and extremely elevated. As long as this indicator remains above 80%, you’ll likely see very tight price ranges. 
  • Moving averages (SPX): Currently trading above all the major moving averages. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Utilities still ruling the day and hitting new all-time highs, yet again. A hard reversal higher from where it opened up the day at. Staples continues to consolidate at recent highs. Energy had the biggest of all the pullbacks yesterday, but the chart’s bullishness remains largely intact. 
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My Market Sentiment

Rising channel’s bottom trend-line was tested yesterday and held. Today, without a bounce, the trend-line will likely break. 

S&P 500 Technical Analysis

swing trading strategy report 382

Current Stock Trading Portfolio Balance

  • 30% Long.

Recent Stock Trades – See My Past Performance Here. 

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