My Swing Trading Approach

Seven days into this current win streak. Now isn’t the time to decide to get bullish on this market. Now is when you should be looking at how to manage the profits, and that is what I am doing here. 

Indicators

VIX – Second straight day higher, but the move looks pretty wimpy. Sellers coming in each day to keep the index down. 

T2108 (% of stocks trading below their 40-day moving average): at 75% – on the verge of making new 52 week highs. In 1.5 months, T2108 has gone from 30% to 75% – quite remarkable. 

Moving averages (SPX): Trading above all moving averages right now. I’m following the 5-day MA for a possible change in the trend. /

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Half the sectors finished lower yesterday, including financials, tech and industrials. Utilities, defensive and real-estate, all laggards of late, led the market. 

patterns to profits email

My Market Sentiment

It’s 2017 and the market loves streaks. This one is seven days long, and has yet to slow down. Difficult to play the short side at all, so at this time, manage your exposure, opt for flexibility, and keep raising those stops as the market allows. 

S&P 500 Technical Analysis

swing trading strategy report 50

Current Stock Trading Portfolio Balance

  • 6 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.