My Swing Trading Approach

I’m not looking to get 100% long here. While a lot of traders are very comfortable with this market,I realize the risk of a sell-off that takes price down 1-2%. As a result, I want to maintain the flexibility to get net short if need be. 

Indicators

VIX – VIX has fallen 9 out of the last 10 trading sessions and now sits at 9.59. Appears primed for a spike here and consequently a drop in equities. 

T2108 (% of stocks trading below their 40-day moving average) – A move above 70% would be a huge sign of strength for this market and the likelihood that this rally continues. That actually happening is a tall task. 

Moving averages (SPX): SPX tested and held the 10-day moving average but still trading below the 5-day MA. 

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Utilities continue their sell-off, while Industrials, Financials and Energy continues to soar. Consumer Defensive is struggling similarly to Utilities.

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My Market Sentiment

Over the last eight trading sessions, price action has been relatively contained and hasn’t gone anywhere. I am looking for a breakout/down out fo that range to determine direction going forward.

S&P 500 Technical Analysis

swing trading strategy report 42

Current Stock Trading Portfolio Balance

  • 5 long positions 

Recent Stock Trade Notables:

  • Alibaba Group (BABA): Long at $170.63, closed at $170.29 for a 5.0% profit. 
  • Workday (WDAY): Long at $106.91, closed at $104.90 for a 1.8% loss. 
  • Nvdia (NVDA): Long at $170.45, closed at $187.94 for a 10.3% profit. 
  • Tyco Connectivity (TEL): Long at $80.15, closed at 82.58 for a 3% profit. 
  • Netflix (NFLX): Long at 177.75, closed at 182.30 for a 2.6% profit. 
  • Micron (MU): Long at $31.12, closed at $31.94 for a 2.6% profit. 
  • WYNN Resorts (WYNN): Long at 138.20, closed at $141.37 for a 2.3% profit. 
  • Netflix (NFLX): Long at $168.69, closed at $173.06 for a 3% profit. 
  • PSQ: Long at $39.28, sold at $38.34 for a 2.3% loss. 
  • SPXU: Long at $14.68, closed at $15.42 for a 5.0% profit.
  • Tesla (TSLA): Long at 365.09, closed at 356.15 for a 2.4% loss. 
  • United Parcel Service (UPS): Long at 113.58, sold at $114.74 for a 1% profit.
  • First Solar (FSLR): Long at $48.07, sold at $49.10 for a 2.1% profit. 
  • Facebook (FB): Short at $168.31, covered at $170.62 for a 1.3% loss. 
  • SDS: Long at $49.81, closed at $48.88 for a 1.8% loss. 
  • SPXU: Long at $14.51, closed at $15.25 for a 5.1% profit.
  • Zayo Group (ZAYO): Long at 32.91, closed at 33.83 for a 2.8% profit. 
  • JP Morgan Chase (JPM): Long at $94.91, closed at $93.83 for a 1.1% loss.
  • Bank of America (BAC): Long at $24.48, closed at $25.01 for a 2.2% profit. 
  • Alibaba Group (BABA): Long at $151.69, closed at $153.43 for a 1.2% profit. 
  • Salesforce (CRM): Long at $90.86, closed at $89.43 for a 1.5% loss. 
  • Autodesk (ADSK): Long at $106.45, closed at $111.34 for a 4.6% profit.
  • Bank of America (BAC): Long at $23.99, closed at $24.23 for a 1% profit. 
  • IBB: Long at $313.18, closed at $324.25 for a 3.5% profit. 
  • SPXU: Long at $14.82, closed at $14.58 for a 1.6% loss. 
  • Alibaba Group (BABA): Long at $143.65, closed at $150.40 for a 4.7% profit. 
  • American Airlines (AAL): Long at $49.26, closed at $51.84 for a 5.2% profit
  • Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit. 
  • Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit. 
  • IBB: Long at $298.24, closed at $303.74 for a 1.8% profit. 
  • SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss. 
  • Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit. 
  • Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit. 
  • Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit. 
  • American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
  • Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit. 
  • Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
  • Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss. 
  • Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
  • SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
  • JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
  • Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
  • Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit. 
  • Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.  
  • Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit. 
  • Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit. 
  • Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
  • Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit. 
  • Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit. 
  • Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss. 
  • Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
  • Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
  • UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit. 

See my entire swing-trading past performance here.