Today’s Swing Trade Ideas

ZLTQ/Long  (Healthcare Sector Medical Devices)   ZLTQ was a featured trade idea back in August 14, profit should’ve been taken on September 15 for about 48%.. ZLTQ has shown bullish strength from its PBO (pullback opportunity) to the Fibonacci 50% retracement line drawn from the July 29 low (the day before the gap) to its highs of September 12.  The big three have converged with the series of Doji’s and hammer candlestick patterns That have formed a rounded bottom ready to breakout.

My entry plan idea:  Positive trading above the T-Line
My stop plan idea:    A close below the T-Line

Member E-Coaching tonight October 28, 8 PM Eastern in the live trading room.

Good Morning,

SPY:  The bulls continue to control the direction of the T-Line and hold their position above the T-Line.  The last few candlesticks have formed an…

SPY:  The bulls continue to control the direction of the T-Line and hold their position above the T-Line.  The last few candlesticks have formed an ascending triangle which in itself is a bullish chart pattern.  We are still waiting to see if the bulls can break out over the resistance area of $197.60 or slightly above the 50- day simple moving average area.  If the bulls can successfully hold their ground over the 50-day simple moving average area, then we may see a rally to new highs.

IWM:  Yesterday’s low stopping at the T-Line forming a lower wick and bullish harami formation on a four-day chart indicates the bulls are still in charge of the recent rally.  $112.62 or slightly over the 50-day simple moving average remains the resistance area that the bulls need to tackle.  Then, of course, the bulls need to tackle the almighty 200-day simple moving average.

Our current trading outlook remains bullish on the current relief rally with a huge emphasis on “caution” as we approach the 50-day simple moving average on the SPY and the 50- and 200-day simple moving averages on IWM.  The transports, IYT, remains bullish with a caution alert approaching the double top.

NQ produced a 52% run from our featured trade idea post on September 30. Great job to all the Hit & Run Candlestick Profit Traders .

CLVS – On August 13, CLVS was a Rounded Bottom Breakout featured trade idea set to reach the 200 period moving average for a 20 to 30% profit.  Another RBB success story, great trading Profit Traders.

This Week’s Economic Calendar—> Click Here

Members Trade Ideas –  Members Only

In the members area you will find 10-15 trade ideas every day

Current  Swing Trade Featured Trade Ideas- Gold & Silver Members Only:

VXX S&P 500 VIX Short Term Futures:  A close below the T-Line ™ implies the bearish short-term swing traders are in control.

USO United States Oil Fund:  A close below the  T-Line ™  implies the bearish short-term swing traders are in control.  The current candle pattern implies buyers are trying to build a short term bottom.

TLT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control.  Recent candles implies consolidation and indecision.

The above are just my thoughts to myself just thought I would share with everyone.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Rick