My Swing Trading Approach
Let’s see if this opening gap holds in the early going, and from there, I will add 1-2 new long setups to the portfolio.
Indicators
VIX – Massive spike on erroneous ABC/Trump report. Gave up nearly all the gains on the day. Typical behavior for this indicator, in this market.
T2108 (% of stocks trading below their 40-day moving average): rose 0.25% yesterday. 60% of stocks remain above their 40-day moving average.
Moving averages (SPX): Broke the 5-day and 10-day moving averages, but rallied back above them before the close of trading.
Industries to Watch Today
Financials taking a breather the last two days, but will look to run today. Energy still the rally warrior of late. Technology needs to bouncehere after testing the 50-day MA on Friday.
My Market Sentiment
Friday was a rough day, especially as the sell-off came a on a fake news report. Nonetheless, I’ll provide the market with a fresh perspective to show me what it iscapable of doing as it looks to establish new all time highs, yet again.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
Recent Stock Trade Notables: