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Swing Trading Strategy Report - Friday, August 11

Watch to see whether this bounce holds today in the AM and trade is accordingly. Could be a dead cat bonce.


VIX - It was up 44% yesterday! The highest since the close on election day 11/8/16.

T2108 (% of stocks trading below their 40-day moving average) - A massive 23% sell-off, all the way down to only 35%. Incredibly bearish.

Moving averages: SPX lost the 20-day at the open and eventually pushed through the 50-day moving average as well.

Industries to Watch Today

No one particular industry that is shining after yesterday's move. Everything is in play.

My Market Sentiment

I don't like this market. I think the breadth is horrible and the bulls have little motivation to push the market to substantial new all-time highs.

Large caps > Small caps.

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance:
  • 2 short positions

Recent Stock Trade Notables:

  • SPXU: Long at $14.51, closed at $15.25 for a 5.1% profit.
  • Zayo Group (ZAYO): Long at 32.91, closed at 33.83 for a 2.8% profit.
  • JP Morgan Chase (JPM): Long at $94.91, closed at...