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. 

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Consumer Defensive and Utilities still strong, but Technology reclaimed the top spot. Industrials doing next to nothing in recent days. 

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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

swing trading strategy report 55

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. 

See my entire swing-trading past performance here. 

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