My Swing Trading Approach
I have plenty of flexibility to play the market in either direction, depending on what the market ultimately wants to do. Only way I will get short is if the market shows signs of breaking down.
Indicators
VIX – Some strength over the last two days. up 4% and at 10.31.
T2108 (% of stocks trading below their 40-day moving average): Pushing lower 5 of the last 8 trading sessions. Currently at 68%, off its high of 78%.
Moving averages (SPX): 7 days straight, SPX has tested the 5-day moving average. So far it has held, but how many more tests before it ultimately breaks.
Industries to Watch Today
Health Care sporting the bull flag pattern. Utilities trying to bounce following a two-day slide. Financials on the verge of a pullback, while Industrials at the bottom side of recent consolidation.
My Market Sentiment
The last two weeks have been as dull as a market can possibly be. Need a definitive move in one direction or the other to break this market out of the malaise it is currently stuck in.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
Recent Stock Trade Notables:
