My Swing Trading Approach
I am concerned with whether Tech will fall apart again and drag the rest of the market down with it. If that is the case, I will look at a more cautious approach to the market today.
Indicators
VIX – Surprisingly back below 10 to 9.58. I would not be surprised to see a pop in the VIX regardless of market direction.
T2108 (% of stocks trading below their 40-day moving average): 4% move to 58%.
Moving averages (SPX): Currently trading above all major moving averages.
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Industries to Watch Today
All the industries moved higher on Friday, lead by healthcare/biotech. Energy appears to be coiling for a bigger move. Cyclical and Defensive continue to hold strong. Financials with a bull flag, while Technology could be seeing a dead cat bounce. 
My Market Sentiment
Follow through on the indices Friday. Though the Nasdaq bounce doesn’t seem as strong. Breadth is also a concern for the market at this juncture.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
- 5 long positions
Recent Stock Trade Notables:
- Square (SQ): Long at $41.28, sold at 42.29 for a 2.2% profit.
- Twitter (TWTR): Long at 20.34, sold at 22.06 for an 8.5% profit.
- Micron (MU): Long at 45.61, sold at 47.91 for a 5.1% profit.
- TNA: Long at $61.00, sold at $64.08 for a 5.1% profit.
- Micron (MU) Long at $43.20, sold at $44.78 for a 3.7% profit.
- Alibaba (BABA): Long at $186.42, sold at 179.29 for a 3.8% loss.
- Paypal (PYPL): Long at $74.18, sold at $73.29 for a 1.2% loss.
- 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.
