Today’s Swing Trade Idea

UCTT (Technology Sector Semiconductor Equipment) UCTT was a featured trade idea on July 23, 2014. It could have been traded for about a 12% profit. After a profit taking pull back, UCTT has now presented a morning star PBO ready to take on the 200-day SMA and a 15-30% move.

My entry plan ideas: Buy on positive trading above the T-Line and 20-day SMA
My stop plan: Close below $9.65

Good Morning,
SPY: At one point yesterday the sellers had the buyers nearly to its knees, but once again the buyers came back and held up the SPY. Closing yesterday above the $200 mark and above the T-Line, the buyers showed their willingness to keep this market in a bullish mood. Yesterday I saw a few great trades and buys such as DATA and FB come out of the trading room, and I suspect today will be no different. Good trading everyone!

IWM: Ever since the IWM closed over the 50-day SMA, I have been impressed with the IWM’s strength to cut through all the resistance and hold. $118.50 still looks good.

Understanding Candlestick Charts Last week we discussed the very basics of candlestick charts: what candlesticks look like, what their shape conveys, and how you can begin to understand them. Today we’d like to take that lesson one step further. Now that you can interpret a candlestick’s meaning, let’s talk about the various formations and patterns you’ll encounter in candlestick charts and what they suggest. Understanding the logistics and complexities of candlestick charts will take some time, so for now, we’re sticking with the basics. Let’s get started! The Basic Formations and Patterns Spinning Tops Long-Legged Doji Long White Candle and a Doji Long Black Candle and a Doji Dragon Fly Doji Gravestone Doji What to read more? Click Here

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VXX S&P 500 VIX Short Term Futures: A close above theT-Line ™ implies the bullish short-term swing traders are in control, last week’s candle pattern implies we could be trying to build a bottom.

USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies the sellers are in control and not ready to give in.

GDX Gold Miners ETF: A below the T-Line ™ implies the bearish short-term swing traders are in control. Current candle pattern (Blue Ice Failure) Implies the 200sma is a target.

TLT: A close below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies the sellers are in control.

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

Members Trade Ideas – Members Only
Keep the inverse ETF’s close by and watch them closely they produce good money, fast
Symbols from TC2000