My Swing Trading Approach
Will look to add 1 to 2 new long positions to the portfolio if the market continues the buying spree. Keeping one eye on the exit though.
Indicators
VIX – Down five straight days and at a staggering low at 9.45. Down 16 of the last 19 trading sessions.
T2108 (% of stocks trading below their 40-day moving average): Highest close since 1/5/17. Currently at 73%.
Moving averages (SPX): Trading above all moving averages right now.
Industries to Watch Today
Health Care stocks in full-on breakout mode, as is Basic Materials. Utilities might be trying to turn around. Pretty much every thing is rallying, though Tech is lagging the leaders in its rally.
My Market Sentiment
Bull flag breakout remains healthy and intact. Keep in the back of your mind, the possibility of some profit taking, but for now the bulls still remain in control.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance
Recent Stock Trade Notables:
