My Swing Trading Approach

FOMC at 2:30pm eastern today, I am not likely to be overly active ahead of the announcement. 

Indicators

VIX – A hard bounce, as I expected yesterday in the VIX, rising 6% to 9.92. 

T2108 (% of stocks trading below their 40-day moving average): Diverging red day, with a 2.7% drop, down to 58%. 

Moving averages (SPX): Currently trading above all major moving averages. 

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Industries to Watch Today

Financials are leading the way here. Industrials are coiling at their highs, as is Defensive. Technology continues to struggle. Utilities are rolling over. 

My Market Sentiment

FOMC Statement is today, followed by a presser at 2:30pm eastern. I expect the market to be somewhat subdued, until then. Should a rate hike occur, as is expected, there should be some larger price swings, as is often the case with FOMC Statements. 

S&P 500 Technical Analysis

• 4 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. 

See my entire swing-trading past performance here.