There’s not a lot of movement out of stocks this week. In fact it has been quite a dull week for traders. If I can find some momentum to this market today, I’ll look to add a new long position. Otherwise, I will likely stay put. 

Indicators

VIX – Back below 10 to 9.93. 

T2108 (% of stocks trading below their 40-day moving average): Impressive that it is down 12 out of the last 15 days. Yesterday it dropped another 1.7% down to 54%. 

Moving averages (SPX): Broke below the 5-day and 10-day moving averages, and came close to testing the 20-day moving average yesterday. Still, the dip buyers managed to rally the stocks back to positive territory. 

Industries to Watch Today

Financials are heating up again and looks ready for another solid run. Industrials appear ready to finally bounce. Health Care continues to be a total drag. 

My Market Sentiment

It’s not the most exciting market, but it remains very bullish, and only one side of the trade that can be traded – the long side. 

S&P 500 Technical Analysis

Current Stock Trading Portfolio Balance

  • 5 long positions

    • Recent Stock Trade Notables:

  • Baidu (BIDU): Long at $242.80; sold at 248.29 for a 1% profit.
  • Nvida (NVDA): Long at $195.17, sold at $204.88 for a 5% profit.
  • Humana (HUM): Long at $248.73, sold at $261.20 for a 5% profit.
  • Square (SQ): Long at $32.92, sold at $34.36 for a 4.4% profit. 
  • Nvida (NVDA): Long at $198.17, sold at $194.06 for a 2% loss. 
  • Lennar Homes (LEN): Long at $56.63, sold at $58.10 for a 2.6% profit. 
  • Lam Research (LRCX): Long at $185.23, sold at $192.24 for a 3.8% profit.
  • Starbucks (SBUX): Long at $55.59, sold at $54.94 for a 1.1% loss. 
  • Illinois Tool Works (ITW): Long at $148.63, sold at $151.23 for a 1.8% profit.
  • Nvdia (NVDA): Long at $180.18, sold at $187.38 for a 4% profit. 
  • Olin Corp (OLN): Long at $34.37, sold at $36.14 for a 5.2% profit.
  • Lowe’s (LOW): Long at $77.97, sold at $81.52 for a 4.6% profit
  • IBB: Long at $330.91, sold at $338.25 for a 2.2% profit. 
  • Seagate Technologies (STX): Long at $34.35, sold at $33.89 for a 1.3% loss. 
  • Wynn Resorts (WYNN): Long at $149.65, sold at $147.14 for a 1.7% loss. 
  • Imax Corp (IMAX): Long at $23.03, sold at 22.26 for a 3.3% loss. 
  • Marriott International (MAR): Long at $106.26, sold at $108.26 for a 1.9% profit. 
  • Alibaba Group (BABA): Long at $170.63, sold at $170.29 for a 5.0% profit. 
  • Workday (WDAY): Long at $106.91, sold at $104.90 for a 1.8% loss. 
  • Nvdia (NVDA): Long at $170.45, sold at $187.94 for a 10.3% profit. 
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