My Swing Trading Approach

I'm not against adding new positions to the portfolio, but right now, the risk is not in the bulls favor. A near-term pullback at some point is likely, which will create better entry prices. Keep moving up those stops!

Indicators

VIX - Popped again yesterday for a third straight day, but gave up a large portion of the day's gains. Currently at 9.52. Coin toss on what it does from here. 

T2108 (% of stocks trading below their 40-day moving average): Up five straight days, but hardly moving higher. Still in the 67% range. 

Moving averages (SPX): Currently trading above all the major moving averages. 

Industries to Watch Today

Utilities led the charge today. May see additional bullishness again today. Financials and Healthcare struggled, but the charts still look strong on the daily. Technology is still soaring.

My Market Sentiment

It's overdone, for sure. Yes, there is some profit taking around the corner. It could be today or five days from now. The key is to not place too high of expectations on the market here without a pullback of some kind first. 

S&P 500 Technical Analysis

(Click on image to enlarge)

Current Stock Trading Portfolio Balance

• 6 long positions

Recent Stock Trade Notables:

• US Steel (X): Long at 35.38, sold at 36.90 for a 4.3% profit.