Technology, The Hottest Sector

My Swing Trading Approach

I closed out my two swing-trades that I had open in SQ and NFLX for +5.3% and +1.4%respectively. I am now back in cash. And will consider getting back long or flipping to the short side, depending on the market's action today. 

Indicators

  • Volatility Index (VIX) - Yesterday's VIX candle suggested a lower-high had been established, but this mornings weakness suggests it may try to reverse course again today. However, notice the short-term channel of lower-highs and lower-lows since October's highs were established. 
  • T2108 (% of stocks trading above their 40-day moving average): Massive reversal yesterday and holding on to the bull flag pattern. 
  • Moving averages (SPX​): Managed to capture the 20-day moving average into the close today. Impressive day for the bulls. Trading just a shade below the 5-day. 

Sectors to Watch Today

Technology was the hottest sector yesterday, even outpacing the bounce in Energy. If this market bounce continues, Technology will continue to be its leader, followed by DiscretionaryMaterials trying to establish a higher-low to work with. Healthcare showing signs it wants that right shoulder on the inverse head and shoulders pattern it has in the works - same goes for Financials. 

My Market Sentiment

Overnight futures are weak, but over the last 60 minutes has started to rally again, despite weak NVDA earnings. This may be a "buy-the-dip" moment at the open for the bulls. 

S&P 500 Technical Analysis

swing trading strategy report 329

Current Stock Trading Portfolio Balance

  • 100% Cash

Click here to download my Allocation Spreadsheet. Get all of my trades that I make real-time by jumping in the  more

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