Declining Downtrend Remains In Focus

My Swing Trading Approach

I am not opposed to adding more trades to the portfolio today, but the market needs to be favorable for it to happen. We could see a pullback, and I don’t want to buy ahead of that, even if it is likely to be just temporary. 


  • VIX – Volatility bounced some yesterday, which is no surprise, considering recent weakness. However, the gains quickly faded, losing the large majority of its upward move. 
  • T2108 (% of stocks trading below their 40-day moving average): Hitting some resistance off of the downtrend from the September highs. But at 65%, it remains one of the most bullish readings of 2018. 
  • Moving averages (SPX): Trading above all the major moving averages. 

Industries to Watch Today

Technology struggles and looks to continue the struggle today, due mainly to weakness in semiconductors. Energy remains the market’s best sector right now. Industrials continues to build strength in recent days. Financials have yet to go anywhere, and continues to struggle. Defensive and Utilities were the weakest, which is what you want in a market trending higher. 

My Market Sentiment S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

  • 4 Long Positions
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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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