My Swing Trading Approach

I added one additional lon position yesterday and will likely hold off here before adding anything else to the portfolio. 

Indicators

  • Volatility Index (VIX) – A push into the close, kept the VIX near its highs of the day. Potential for another test of the 20-day moving average today, which has resulted in solid resistance over the last two months. 
  • T2108 (% of stocks trading above their 40-day moving average): A 3.4% pullback to the 82% area. Not finding a lot of buyers of stocks at these levels, but just enough to keep any sell-off from grabbing a footing.    
  • Moving averages (SPX): Currently trading above all the major moving averages. 
  • RELATED: Patterns to Profits: Training Course

Sectors to Watch Today

Discretionary was the only sector to finish in the green yesterday.  Utilities pulled back for a second straight day, but still a very healthy chart. Staples showing signs of rolling over here. Bull flag pattern in Energy over the last four trading sessions. 
patterns to profits email

My Market Sentiment

A tight trading range and early dip buy off the lows, but once the afternoon rolled around price action gave up its gains by giving up its gains in the final hour. The rising trend-line will be broken this morning off of the December lows, but the key to today will be whether it can recover and close above the trend-line. 

S&P 500 Technical Analysis

swing trading strategy report 385

Current Stock Trading Portfolio Balance

  • 40% Long.

Recent Stock Trades – See My Past Performance Here. 

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