My Swing Trading Strategy
I added one new trade to the portfolio yesterday and will look to add another long position today.
Indicators
- Volatility Index (VIX) – As mentioned yesterday, don’t be surprised to see a push into the 12’s on the VIX indicator, and that is exactly what the market provided yesterday. I expect it to remain pretty quiet during this holiday week. The jobs number on Friday could change that.
- T2108 (% of stocks trading above their 40-day moving average): Back up to 65%, and the market starting to look very healthy and strong on the indicators across the board.
- Moving averages (SPX): Trading above all major moving averages.
- RELATED: Patterns to Profits: Training Course
Sectors to Watch Today
Technology continues to hold up very well here, while Industrials continues to sit on its all-time highs. Energy should be avoided, it can definitely be tempting, but the sector chart looks problematic still, and think there is a solid chance this sector keeps pushing lower, particularly after yesterday’s horrific performance. 
My Market Sentiment
Yesterday had more of a feel of consolidation, but wouldn’t be surprised to see a bigger push to the upside for the rest of this week, as holiday trading weeks, tend to be more bullish.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 20% Long
