Bull Flag Breakout

My Swing Trading Approach

I added one new additional trade to the portfolio yesterday while also raising the stops in my other positions. Still looking to be measured with any additional trades. I don't want to be overexposed in this market. 

Indicators

  • Volatility Index (VIX) - VIX broke below the rising trend-line below August lows. Likely to test the upper 11's, lower 12's here. 
  • T2108 (% of stocks trading above their 40-day moving average): Minor lift yesterday, despite a flat market session. So far looks to be holding support across established off the May lows. 
  • Moving averages (SPX​): Still holding the 5-day moving average but unable to break through the 10-day MA. 

Sectors to Watch Today

Huge move yesterday for Staples. Still in a sideways range, though the last six days has been strong. Potential double bottom in Materials but I'm not touching it - far too problematic over the last course of 2018. Hard 2-day bounce in Energy, but still range bound and resistance looms overhead.

My Market Sentiment

Bull flag breakout yesterday, and now ready to make a move back towards its all-time highs. However, there is a bearish wedge forming, that will need to break to the upside, sooner rather than later. 

S&P 500 Technical Analysis

swing trading strategy report 9 13 18

Current Stock Trading Portfolio Balance

  • 4 Long Positions

Click here to download my Allocation Spreadsheet.

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