Swing Trading Strategy Report - Friday, August 4

Right now, I will probably limit the number of positions in my portfolio and stay as close to neutral as I possibly can until the market makes its move. Then I will foll along. 

Indicators

VIX - Showed some life toward the end of yesterday's trading session - very interesting. 

T2108 (% of stocks trading below their 40-day moving average) - Falling apart! Now less than 50% of stocks are trading above their 40-day moving average (49%)

Moving averages: 5/10 MA bearish crossover yesterday. 

Industries to Watch Today

Financials - Today's hot industry

Technology - "meh!"

Energy - Falling apart again. 

Utilities - on fire! 

Retail - WMT nearing a short-term peak. Everything else searching for direction. 

Biotech - can't catch a bid.

My Market Sentiment

Yesterday's trading session, continued the up/down/sideways pattern where the dip buying ultimately leads to nowhere. The non-farm payroll number came in strong today. That will be great for the banks as they will anticipate more rate hikes in the near-term.

Large caps > Small caps.

S&P 500 Technical Analysis

(Click on image to enlarge)

swing trading strategy report 7

Current Stock Trading Portfolio Balance: 

  • 1 long position, 2 short positions

Recent Stock Trade Notables:

1 2
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Click here to download my Allocation Spreadsheet.

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