My Swing Trading Approach
I won’t rule out adding additional position or two to the portfolio today, but I’m not looking to pile on in this market. Manage the trades that I have, trim the ones that don’t provide a solid reason to keep, and raise the stops on the rest.
Indicators
VIX – Back below 10, but not seeing any heavy moves to the downside.
T2108 (% of stocks trading below their 40-day moving average): 73%. Unchanged yesterday.
Moving averages (SPX): Tested the 5-day moving average the last three days, and despite trading momentarily below it intraday, managed to close above the MA.
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Industries to Watch Today
Consumer Defensive and Utilities still strong, but Technology reclaimed the top spot. Industrials doing next to nothing in recent days.
My Market Sentiment
Still bullish on this market. Not seeing huge price moves out of the market with daily price ranges quickly tightening.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 5 long positions
Recent Stock Trade Notables:
- Illinois Tool Works (ITW): Long at $148.63, sold at $151.23 for a 1.8% profit.
- Nvdia (NVDA): Long at $180.18, sold at $187.38 for a 4% profit.
- Olin Corp (OLN): Long at $34.37, sold at $36.14 for a 5.2% profit.
- Lowe’s (LOW): Long at $77.97, sold at $81.52 for a 4.6% profit
- IBB: Long at $330.91, sold at $338.25 for a 2.2% profit.
- Seagate Technologies (STX): Long at $34.35, sold at $33.89 for a 1.3% loss.
- Wynn Resorts (WYNN): Long at $149.65, sold at $147.14 for a 1.7% loss.
- Imax Corp (IMAX): Long at $23.03, sold at 22.26 for a 3.3% loss.
- Marriott International (MAR): Long at $106.26, sold at $108.26 for a 1.9% profit.
- Alibaba Group (BABA): Long at $170.63, sold at $170.29 for a 5.0% profit.
- Workday (WDAY): Long at $106.91, sold at $104.90 for a 1.8% loss.
- Nvdia (NVDA): Long at $170.45, sold at $187.94 for a 10.3% profit.
- Tyco Connectivity (TEL): Long at $80.15, sold at 82.58 for a 3% profit.
- Netflix (NFLX): Long at 177.75, sold at 182.30 for a 2.6% profit.
- Micron (MU): Long at $31.12, sold at $31.94 for a 2.6% profit.
- WYNN Resorts (WYNN): Long at 138.20, sold at $141.37 for a 2.3% profit.
- Netflix (NFLX): Long at $168.69, sold 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, sold at $15.42 for a 5.0% profit.
- Tesla (TSLA): Long at 365.09, sold 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, sold at $48.88 for a 1.8% loss.
- SPXU: Long at $14.51, sold at $15.25 for a 5.1% profit.
- Zayo Group (ZAYO): Long at 32.91, sold at 33.83 for a 2.8% profit.
- JP Morgan Chase (JPM): Long at $94.91, sold at $93.83 for a 1.1% loss.
- Bank of America (BAC): Long at $24.48, sold at $25.01 for a 2.2% profit.
- Alibaba Group (BABA): Long at $151.69, sold at $153.43 for a 1.2% profit.
