My Swing Trading Approach
I’m looking to add some long exposure today, should the market show enough bullishness to support a move. Still maintaining the ability to get short quickly, should the opportunity arise.
Indicators
VIX – VIX spoiked higher by 3.1%, but still trading below 10 currently.
T2108 (% of stocks trading below their 40-day moving average): Continual fading with only 69% of stocks trading above the 40-day moving average now.
Moving averages (SPX): 10 day moving average is creeping up on the 5-day MA. Both of which could be broken on any significant sell-off.
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Industries to Watch Today
Financials consolidating at their highs, but consolidating along side of the broader market. Technology still the strongest sector right now. Health Care is currently pulling back, Basic Materials possibly putting in a short-term top.
My Market Sentiment
The momentum hasn’t been there for nearly two weeks now. With earnings underway, you may see the stock market pick up in volatility and price swings.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 4 long positions
Recent Stock Trade Notables:
- Lam Research (LRCX): Long at $185.23, sold at $192.24 for a 3.8% profit.
- Starbucks (SBUX): Long at $55.59, sold at $54.94 for a 1.1% loss.
- 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.
