My Swing Trading Approach
If today’s bounce holds, I will look to add 2-3 new positions to the portfolio.
Indicators
VIX – Only higher by 0.6%. Nasty intraday sell-off that went from over 13, back down to 11.23.
T2108 (% of stocks trading below their 40-day moving average): Dropped 9% to 57% – this is a big concern for the market.
Moving averages (SPX): SPX broke the 5 and 10-day moving averages yesterday, but bounced off of the 20-day.
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Industries to Watch Today
Consumer Defensive rolling over, Health Care sporting a double top, Energy still very bearish, while Technology and Industrials are still exhibiting strength on their charts.
My Market Sentiment
Looking like we are going to bounce in a similar fashion, following last Thursday’s sell-off. That’s the game plan for now.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 2 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.
