Swing Trading Strategy - Tuesday, October 17

My Swing Trading Approach

I'm looking to add some long exposure today, should the market show enough bullishness to support a move. Still maintaining the ability to get short quickly, should the opportunity arise. 

Indicators

VIX - VIX spiked higher by 3.1%, but still trading below 10 currently. 

T2108 (% of stocks trading below their 40-day moving average): Continual fading with only 69% of stocks trading above the 40-day moving average now. 

Moving averages (SPX): 10-day moving average is creeping up on the 5-day MA. Both of which could be broken on any significant sell-off.  

Industries to Watch Today

Financials consolidating at their highs, but consolidating along side of the broader market. Technology still the strongest sector right now. Health Care is currently pulling back, Basic Materials possibly putting in a short-term top.

My Market Sentiment

The momentum hasn't been there for nearly two weeks now. With earnings underway, you may see the stock market pick up in volatility and price swings.

S&P 500 Technical Analysis

swing trading strategy report 58

Current Stock Trading Portfolio Balance

  • 4 long positions

Recent Stock Trade Notables:

1 2
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Click here to download my Allocation Spreadsheet.

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