My Swing Trading Approach
Staying nimble in this market. The market is suddenly prone to large intraday swings, being flexible in this market will remain key.
Indicators
VIX – Was up as much as 24% at one point yesterday, finished only 7.4% at 10.50.
T2108 (% of stocks trading below their 40-day moving average): Only 48% of stocks trading above. Has dropped 16 out of the last 20 trading sessions.
Moving averages (SPX): Lost the 5-day MA, but managed to hold on to everything else, even after breaking below the 10-day and 20-day at one point.
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Industries to Watch Today
Consumer Cyclical and Energy still running strong. Industrials starting the rollover now.
My Market Sentiment
Dip buyers still aggressively buying any and all dips by the market. Hard to trade against that. Rising short-term channel still in play.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 3 long positions
Recent Stock Trade Notables:
- Square (SQ): Long at $36.00, sold at $37.35 for a 3.8% profit.
- Adobe (ADBE) : Long at $175.20, sold at $179.62 for a 2.5% profit.
- Alibaba (BABA): Long at $187.00, sold at 181.77 for a 2.8% loss.
- Paypal (PYPL): Long at $71.94, sold at $72.98 for a 1.5% profit.
- Lam Research (LRCX): Long at 210.41, sold at $205.20 for a 2.4% loss.
- Baidu (BIDU): Long at $242.80; sold at 248.29 for a 1% profit.
- Nvida (NVDA): Long at $195.17, sold at $204.88 for a 5% profit.
- 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.
