WEEKEND THOUGHTS ON THE SPX, DJIA, COMP, RUT, SECTORS

All indices have formed stick sandwiches or modifications of them. I am short/intermediate-term bearish and will reflect this sentiment by incorporating my primary swing strategies with the current day trading. Day trading is great and all, but I'm looking to capture larger chunks of the moves. Also, it'll ease up my time to focus on other things. A swing trade can be a simple overnight 2-day hold or a multi-week hold and everything in between.

Charts shown are 9-mo and 5-mo.

The SPX is short-term bearish and intermediate-term neutral as it is with most of the other indices. I'm looking for a 1-day neutral/reactionary move for entry. The RUT continues to lead the way down as I have predicted. It is testing the 100-day MA. The DJIA is testing the lower ascending range as well as the 50-day MA. Finally, the COMP is in a neutral range and threatening the lower boundary. Notice how all the indices are in different stages of the correction?


The transport index is also testing the 100-day MA and is in a neutral range.


Not only are all the indices in different stages, so are the individual sectors.