My Swing Trading Approach

I am concerned with whether Tech will fall apart again and drag the rest of the market down with it. If that is the case, I will look at a more cautious approach to the market today. 

Indicators

VIX – Surprisingly back below 10 to 9.58. I would not be surprised to see a pop in the VIX regardless of market direction. 

T2108 (% of stocks trading below their 40-day moving average): 4% move to 58%. 

Moving averages (SPX): Currently trading above all major moving averages. 

Industries to Watch Today

All the industries moved higher on Friday, lead by healthcare/biotech. Energy appears to be coiling for a bigger move. Cyclical and Defensive continue to hold strong. Financials with a bull flag, while Technology could be seeing a dead cat bounce. 

My Market Sentiment

Follow through on the indices Friday. Though the Nasdaq bounce doesn’t seem as strong. Breadth is also a concern for the market at this juncture. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

  • 5 long positions
  • Recent Stock Trade Notables:

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