My Swing Trading Approach
I plan to continue raising the stop-loss on my current positions, while open to adding 1-2 new long positions to the portfolio.
Indicators
VIX – Afternoon sell-off kept away a substantial rally on the VIX. Finished 5% higher at 9.65.
T2108 (% of stocks trading below their 40-day moving average): Notable 4% drop down to 4%.
Moving averages (SPX): Continues to ride the 5-day moving average. Until that breaks, there is very little reason to turn negative on this market.
Industries to Watch Today
Consumer Defensive and Energy the weakest of the sectors, while Industrials continue to consolidate. Technology and Consumer Cyclicals continue to very well.
My Market Sentiment
8 day win streak by the S&P 500 was finally snapped on Friday with a minor 2.7 point pullback. Volume on SPY was above average, but was contained inside of the previous trading day’s candle body.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
6 long positions
Recent Stock Trade Notables:
