Technology Still Leading The Way

My Swing Trading Approach

Right now, the risk-reward on trade setups are unfavorable when taking in the overall state of the market. At this point, I am looking to ride my current positions higher, while raising the stops. 

Indicators

VIX - Extremely low at 9.22, and likely to see a bounce at some point this week. 

T2108 (% of stocks trading below their 40-day moving average): Still under-performing, but a decent rally on Friday of 2.7% to 67.5%

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

Industries to Watch Today

Technology still leading the way. With the exception of Real Estate and Utilities, all the sectors are off to a great start to the new year, but they are also very, very overextended. 

My Market Sentiment

Well overextended market at this point, and likely to see a pullback in the near future. 

S&P 500 Technical Analysisp

Current Stock Trading Portfolio Balance

• 7 long positions

Recent Stock Trade Notables:

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