My Swing Trading Strategy
No new swing-trades yesterday. I closed out three positions. One for a loss, Wayfair (W), but then closed out Square (SQ) for a 2.6% profit and Quest Diagnostics (DGX) for a 0.6% profit. I lighhtened up more than what I expected today, so I may look to add one to two new positions to the portfolio today.
Indicators
- Volatility Index (VIX) – Finally broke below that pesky 50-day mvoing average for the first time since 5/3, but yet to break below the 5/22 lows.
- T2108 (% of stocks trading above their 40-day moving average): A very big 16% pop yesterday that takes the indicator up to 49%. A nice move that has it hitting some declining resistance from the February highs.
- Moving averages (SPX): SPX currently trading above all of its major moving averages.
- RELATED: Patterns to Profits: Training Course
Sectors to Watch Today
Technology was the big winner on the day, with the sector rallying over 1.7%. Energy finally saw a boost as well, while your safe havens, like Real Estate, Staples and Utilities were the only sectors to finish in the red on the day. 
My Market Sentiment
Broke out of consolidation in yesterday’s session, but I hate seeing how it is unable to sustain the momentum throughout the day. Once again, we saw the strength in the early going, and then fade into the afternoon with little to no price action at all thereafter. However, price managed to close notably higher than the right shoulder of the head and shoulders pattern, which is certainly bullish going forward.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 20% Long
