Bulls still struggle with the bears

From a bull’s eye SPY:

Bulls still struggle with the bears – price action has acted well the past three days and has now closed over the T-Line two of the three.  Note the T-Line remains above the 34-EMA.  Unfortunately, price action is struggling with resistance which is keeping the battle on. Note the lower highs and lower lows continue. At this point, I think it very important to wait for a decisive direction in the market.

On the 1-hour chart price struggles with our dotted deuce and 200-SMA and the resistance, it has created.

Featured trade idea – DPLO

Set Up – (RBB) Rounded Bottom Breakout, 50-sma support, 3-day Bullish Morning Star. Potential Swing trade  13 – 40%

Spotlight chart – RH

(RH) Restoration Hardware Holdings Inc. Was members trade idea on March 3, 2017, after a Bullish Kicker candle pattern with a pull back.  Note the T-Line run and the higher highs and higher lows.  Yesterday are RH gapped giving members 39.96%

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Morning Star candlesticks pattern

If you’ve ever wished upon a star, I hope that that star was a Morning Star candlestick pattern. Unlike the Evening Star, an omen that hints at bad things to come (i.e., low stock prices), the Morning Star is a sign of good fortune. If you spot this bullish reversal signal, which is composed of three candles, you can expect stock prices to increase. Although the bears have been in control, the bulls are ready and able to take over. To learn how to spot the Morning Star signal, how to decipher its characteristics, and how to interpret its meaning, Read More.

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