Full Throttle On This Market

My Swing Trading Approach

Three day weekend ahead of us, with the market closed on Monday. I may add a new position if the market holds the early morning gains, and the right opportunity presents itself. I will continue increasing my stops to protect profits. 

Indicators

  • VIX – Even with yesterday’s rally in equities, the VIX still rose 0.6% to 9.88. 
  • T2108 (% of stocks trading below their 40-day moving average): Finally a BIG MOVE! Rose 8.6% yesterday to close at 69%. Still has room to move higher, but the bearish divergence is looking less threatening with that move yesterday. 
  • Moving averages (SPX): Still holding on to the 5-day moving average and all the other MA’s. 

    • Industries to Watch Today

    Energy remains the strongest sector, with Basic Materials right behind. Both are sporting parabolic trend lines. Technology consolidated over the past five days. 

    My Market Sentiment

    Keep riding the trend. Don’t be irrational along the way, but move those stops up. It won’t last forever, so always be prepared. 

    S&P 500 Technical Analysis

    Current Stock Trading Portfolio Balance

  • 5 long positions

    • Recent Stock Trade Notables:

  • 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. 
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    Author: Travis Esquivel

    Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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