My Swing Trading Approach
I'll look to add another position to the portfolio today, should the market strength hold up, in the early going. I expect light volume from now until the end of the year.
Indicators
VIX – Dropped 3% but what was most impressive was the print of 8.90. Currently sitting at 9.72 .
T2108 (% of stocks trading below their 40-day moving average): Actually rose yesterday, 1.5% to 61%. A rare bullish divergence for the indicator.
Moving averages (SPX): Testing the 5-day moving average and holding so far. Needs to bounce today, though.
Industries to Watch Today
Energy led the way yesterday in a very impressive manner followed by Basic Materials. Utilities and Real Estate continues to be the dogs of the market. Technology holding on to recent gains, but could falter here, if it doesn't continue to improve today.
My Market Sentiment
SPX is testing the bottom band of the rising channel. It's important for this level to hold, otherwise, a bigger move to the 2640's is likely in order.
Current Stock Trading Portfolio Balance
Recent Stock Trade Notables:
