A Very Bullish Day

My Swing Trading Approach

My first priority will be to manage my current positions. I may add an additional long position to the portfolio if the market cooperates, but likely, I will simply stay put.

Indicators

VIX – Small move in VIX, as it remains at its psychological floor in the 9’s. Due for another pop, but that doesn’t necessarily mean a sell-off for stocks.

T2108 (% of stocks trading below their 40-day moving average): A respectable 3.6% move to 63% yesterday. Needs to get back above 70% though.

Moving averages (SPX): Testing the 5-day moving average and holding so far. Needs to bounce today, though.

Industries to Watch Today

Another big move in energy, and continues to be the hottest sectors of late. Basic Materials also remains very bullish. Tech still coiling. Cyclical and Industrials still sporting solid bullish trend lines.

My Market Sentiment

Expect low volume and small price moves from the indices today, as it is the last day of trading before Christmas. Traditionally a very bullish day.

S&P 500 Technical Analysis