My Swing Trading Approach
Added two new positions to the portfolio on Friday, looking to add 1-2 more today. The market, simply isn't breaking, and the trend can't be wrestled with.
Indicators
VIX – VIX finally broke on Friday, dropping 7.8% to 11.27. I suspect we will see a further move in the days ahead, down into the 10's and possibly sub-10.
T2108 (% of stocks trading below their 40-day moving average): Significant move on Friday of 7.8%. Closed the day at 68%. Stocks not overextended at this point. Still concerns me that we are not trading well over 70%.
Moving averages (SPX): Trading above all the major moving averages.
Industries to Watch Today
Staples continuing to rally hard of late, Cyclicals following right behind. Potential for a bull flag in Energy. Financials, Tech, Healthcare, Industrials all very strong. Basic Materials may be looking at another move higher here.
My Market Sentiment
Current Stock Trading Portfolio Balance
4 long positions
Recent Stock Trade Notables:
Hess (HES): Long at 48.50, sold at 53.42 for a 10.1% profit.
Splunk (SPLK): Long at 83.11, sold at 88.10 for a 6% profit.
Nvidia (NVDA): Long at 227.10, sold at 221.32 for a 2.5% loss.
Square (SQ): Long at 40.41, sold at 41.16 for a 1.9% profit.
Fifth Third Bancorp (FITB): Long at 30.92, sold at 31.80 for a 2.9% profit.
US Steel (X): Long at 35.38, sold at 36.90 for a 4.3% profit.
