My Swing Trading Strategy

One additional trade was added to the portfolio on Wednesday, however, I am a little hesitant in adding another trade today as the market is showing weakness ahead of the bell with a strong jobs number. 

Indicators

  • Volatility Index (VIX) – Another decline on Wednesday, this time to the tune of 2.8% to close at 12.57. This indicator continues to drop hard and sets up for a potential test of the April lows. However, today is likely to see some profit taking in the early going and a likely pop in the indicator. 
  • 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

All of your safe sectors drove the market higher on Wednesday, with Staples, Real Estate, and Utilities leading the way. All major sectors were in the green though, with Energy and Materials showing the most lag. Expect the Financials to rally today on the strong jobs number. 
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My Market Sentiment

The bounce off of the neckline of the inverse head and shoulders pattern has been very strong, and while the market sits at all-time highs with aggressive buying, a pullback or consolidation would be healthy for this market.  

S&P 500 Technical Analysis

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Current Stock Trading Portfolio Balance

  • 30% Long

Recent Stock Trades – See My Past Performance Here. 

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