My Swing Trading Strategy
I booked gains in Netflix (NFLX) yesterday at 361.21 for a +3.3% profit. I still have a few other long positions, but plan to tighten my stops on each of them to lock in gains amid today’s pre-market weakness.
Indicators
- Volatility Index (VIX) – Dropped for the fifth time in the last six trading sessions by 7% to 15.29.
- T2108 (% of stocks trading above their 40-day moving average): An 8.8% pop yesterday to 48%, but still another lower-high that doesn’t show an improving market internally.
- Moving averages (SPX): Broke back above the 50-day moving average, but unable to close above the 10-day moving average after the afternoon selling killed its chances at doing so.
- RELATED: Patterns to Profits: Training Course
Sectors to Watch Today
Technology was yet again the market’s leader, while the Industrials has a nice topping pattern that it may be forming here. For a full sector analysis, check out my latest post here. 
My Market Sentiment
Some short-term resistance kicking in here with pre-market weakness and yesterday’s sell-off from the day’s highs. However, to jump start the selling again, Monday’s lows will have to be taken out. Once that happens, you have a confirmed head and shoulders pattern on the daily chart.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 30% Long
