My Swing Trading Approach
I will look for opportunities in tech stocks today, if the early gap higher shows that it wants to hold. If not, I will look to play the market with a much more cautious approach.
Indicators
VIX – VIX bounced 6.7% up to 10.7. Mainly due to the fears in tech stocks.
T2108 (% of stocks trading below their 40-day moving average): Rose for the eighth time in the last nine sessions. at 60% now, and looking much more healthy.
Moving averages (SPX): Trading above all the moving averages.
Industries to Watch Today
Financials continued to lead the way yesterday, but the big news was the disaster in Technology – down 2.7% as a whole! Look for a bounce there today.
My Market Sentiment
There is a lot divergences unfolding in this market, but price is king, and continues to march higher, regardless.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
Recent Stock Trade Notables:
