The T-Line Continues to Trend Higher with a Slow Grind Price Leading

(SPY) –  The T-Line continues to trend higher with a slow grind with price leading. The Bulls keep clawing their way up the wall of worry. On the SPY’s daily chart a Bullish trend continuation J-Hook pattern is being printed. Yesterday’s candle put the last three days’ pattern in the same family as the Bullish Morning Star. You can also see this on the 2-day chart and a Bullish Engulf.

Yesterday the SPY closed at an all-time new high breaking back above our upper T-Lind Band, on the 3-day chart the SPY has closed above the upper T-Lind Band the past 6 bars. All this was made possible with the help of the 11 S&P-500 Spiders I follow closing above the previous days close.

FREE TRADE IDEA – CEMP

CEMP – Has constructed a Bullish Reverse Scoop Pattern along with a Bullish “w” pattern and a double bottom. The chart could be ready to break above the recent resistance and to our dotted Deuce. On May 2^nd we posted VRX to or subscribers, nine days later it is up 46.69%

On our trade ideas tracking list Hit and Run Candlesticks has produced five trades above 30% – 6 trades above 20% – and 19 trades between 10% and 19%.

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What is a Trade Idea Watch List?

A trade idea watch list is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch-list, we wait until price action meets our conditions for a trade.

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