My Swing Trading Approach

I’ll be looking to add 1-2 new trade setups to the portfolio today. Right now, I am at 70% cash. I want to increase that some today. 

Indicators

VIX – notable pop of 7.5% yesterday taking it back up to 10.5%

T2108 (% of stocks trading below their 40-day moving average): 53% currently. Not good. Stocks as a whole continue to weaken. Dropped 10.6% yesterday. 

Moving averages (SPX): Holding all the major moving averages. 

RELATED: Patterns to Profits: Free Training Course

Industries to Watch Today

Technology + Energy are the two strongest sectors at the moment. Consumer Defensive + Industrials are showing the most weakness. 

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My Market Sentiment

Despite yesterday’s sell-off, it was an inside trading pattern, meaning, the price action remained contained inside of the price range from Friday. Also, 5-day moving average held up too.  

S&P 500 Technical Analysis

swing trading strategy report 68

Current Stock Trading Portfolio Balance

  • 3 long positions

Recent Stock Trade Notables:

  • Humana (HUM): Long at $248.73, sold at $261.20 for a 5% profit.
  • Square (SQ): Long at $32.92, sold at $34.36 for a 4.4% profit. 
  • Nvida (NVDA): Long at $198.17, sold at $194.06 for a 2% loss. 
  • Lennar Homes (LEN): Long at $56.63, sold at $58.10 for a 2.6% profit. 
  • 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. 

See my entire swing-trading past performance here. 

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