My Swing Trading Approach

Still playing it somewhat cautious here. I will look to add 1-2 new positions today to the long side, as long as the momentum can hold up.  

Indicators

VIX – As always – gap up, sell off the rest of the day. Nearing another move back below 10 again. 

T2108 (% of stocks trading below their 40-day moving average) +3% increase to 68% – best reading since February of this year. 

Moving averages (SPX): 5 & 10-day moving average with a bearish crossover. 

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Energy continues one of the best sector rallies of the year. Industrials still unstoppable. Consumer Cyclical consolidating some, but could see some renewed buying interest in the days ahead. Some profit taking in Healthcare of late. Basic Materials looks toppy over the course of this month. 

patterns to profits email

My Market Sentiment

Market showing resiliency and refusing to sell-off. Also forming a bull flag on the daily which should bode well, if this market decides to breakout of it.  

S&P 500 Technical Analysis

swing trading strategy report 44

Current Stock Trading Portfolio Balance

  • 3 long positions

Recent Stock Trade Notables:

  • Marriott International (MAR): Long at $106.26, closed at $108.26 for a 1.9% profit. 
  • 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.