Utilities Showing Life At The 200-Day Moving Average

My Swing Trading Approach

I will likely take a conservative approach to the trading day ahead. Manage profits in existing trades, and at most, add one new position to the portfolio today.

Indicators

VIX – Bounced another 2.2% yesterday to 10.47.

T2108 (% of stocks trading below their 40-day moving average): Flat for three days and counting. Remains at 63%

Moving averages (SPX): Held the 10-day moving average, back above the 5-day MA.

Industries to Watch Today

Utilities showing life at the 200-day moving average. Healthcare trying to breakout of its coil. Industrials and Basic Materials continues to trend higher.

My Market Sentiment

Day 2 of the Santa Rally. Volume will continue to fall off today, as it has done so far this week.

S&P 500 Technical Analysis