Do you see Two Bearish patterns forming  

From a bull’s eye SPY:

Do you see Two Bearish patterns forming in the SPY? The Bearish “M” pattern has lead to a Bearish “h” pattern trying to form. The hourly chart also remains below the 200-sma. Below $233.30 could set the Bear in motion to test the recent low of $231.60

The Bull view – From the March low the SPY rallied to a high and has bee consolidation above its 50-sma, a close above $236.30 would suggest a possible test of the “M” pattern highs.

I suspect the market is waiting on Thursday’s bank earnings reports.

FREE Trade Idea – NAT

Daily Chart – Rounded Bottom Breakout (RBB) with three higher lows and a bullish “W” pattern you can see on the 3-day chart. I see a 20% potential trade on NAT.

You can see more detail and our complete trade plan for NAT in the member’s area of our website.

Spotlight Trade – JAZZ

JAZZ –  Has traveled over 40% from our post to members on January 3.  Hit and Run Candlesticks informed members that JAZZ was an (RBB) Rounded Bottom Breakout pattern and had the potential of reaching new highs. The (RBB) Rounded Bottom Breakout pattern is a favorite of both members and myself.

What Other Traders Say

“Having been a full-time trader, I traded many different prices and technical indicator patterns over the years. If I were asked to choose just one pattern to trade the rest of my life, I would choose the Rounded Bottom (RBB) pattern without hesitation. It is the hands down winner in my trading arsenal for achieving profits on a regular basis. The pattern is easy to scan for, simple to learn, and provides an entire trading plan in the set-up from entry, stop-loss and price target. I often say, “RBB Rules,” and it truly does in my P&L (Profit & Loss) tracking. I would encourage both novice and experienced traders to learn this valuable set-up.”

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© 2007 – 2017 Hit & Run Candlesticks INC. – Right Way Options – Strategic Swing Trade Service – Trader Vision – All Rights Reserved. Terms of Service Investing and Trading involves significant financial risk and is not suitable for everyone. No communication from Rick Saddler, Doug Campbell or this website should is not financial or trading advice. All information is intended for Educational Purposes Only.