Energy Consolidating Of Late, But Starting To Emerge Out Of The Pattern

My Swing Trading Approach

Concerned about significant additions to my portfolio at this juncture. The market is overheated, and prime for some selling. I won’t short anything until the time is right, but I am more interested in protecting profits by raising stops on existing positions. 

Indicators

VIX – Rare up day – up 0.6%, breaking a 5-day losing streak. 

T2108 (% of stocks trading below their 40-day moving average): at 75% – on the verge of making new 52 week highs. In 1.5 months, T2108 has gone from 30% to 75% – quite remarkable. 

Moving averages (SPX): Trading above all moving averages right now. I’m following the 5-day MA for a possible change in the trend. /

Industries to Watch Today

Energy consolidating of late, but starting to emerge out of the pattern. After yesterday, there really isn’t any sector that isn’t rallying. 

My Market Sentiment

Rally still intact – 6 days strong. Though, you can’t expect it to last forever, and more than likely we’ll see some consolidation in the days ahead. Pretty much as overbought as you can get. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

  • 5 long positions

  • Recent Stock Trade Notables:

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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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