Wheelhouse View of the Market

The $RUT, S&P500, and VIX charts are below. $RUT has a little ways to go before potentially breaking out of its range, and the S&P500 is in the process of doing so. A break through 1233 could get to 1250-1260 quickly, but some sideways action for a few days would be a good thing between here and there. The VIX has broken down already below its range, so it looks like the volatility is subsiding for now.

Trading Account: In cash; however as market breadth is now bullish on the market monitor, momentum swing trades should work better. We have had a good thrust on breadth off the bottom, and it looks like this may have some legs to it. Since we are in earnings season, I will be focusing on the earnings watchlist from Bluefin (www.patientfisherman.blogspot.com) for some swing trading opportunities, and if my schedule allows I will be using the T method for my entry. Good example of this was LNKD from last week (see prior post).

401(k): Currently 30% invested, will be getting fully invested early this week. Current positions are TNA, LNKD, PANL. I am focusing on best setups from the Stockbee Trend Intensity universe and the Bluefin lists, preferring stocks with good earnings growth and catalyst.