Today’s Swing Trade Idea
MU (Technology Sector Semiconductor Memory) MU has been forming a top with lower highs with a bearish evening star formed at the big three and T-Line leading down below $29.50. The 200-day simple moving average becomes the target.
My entry plan ideas: On weakness below $30.11
My stop plan: A close above $32.55
Good Morning,
SPY: The S&P 500 has formed a bearish evening star that looks to be headed to the 50-day simple moving average which is also the 38.2% Fibonacci retracement. At this point there is not a clue whether or not we will see a bullish reversal signal. Therefore, patience is required while we wait to see if a bullish reversal candlestick is drawn. The SPY has also formed a type of bearish evening star, just not as obvious as the S&P 500.
IWM: Last week IWM painted a bearish falling method and Friday a bearish moving average squeeze with bearish confirmation and yesterday closed below the big three and the 200-day simple moving average. On another little bearish note, the 50-day simple moving average has now crossed down through the 200- simple moving average, widely known as the “death cross.” Our portfolios should be weighted to the short side or long inverse ETF’s, but do not chase.
Posted yesterday-September 22, 2014
TZA was a featured trade idea on September 5, 2014 and like most stock picks, there is a requirement to allow the chart pattern to work. Chart patterns like candlestick signals do not have to reward traders the very next day, and it may take a day or two for the pattern to generate the energy that it needs to move in the required direction. TZA has made ups and downs from the September 5 featured date, but you can see in the chart it has made constant higher lows currently up about 5% from our post.
Trade with the best TZA would have put you ahead of the curve – Profit with us
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| Symbols formembers only | Date | Long/Short | ||
|---|---|---|---|---|
| 9-18-2014 | Long | Wait for buy signal | ||
| 9-18-2014 | Long | Wait for buy signal | ||
| 9-17-2014 | Long | Close on weakness | ||
| 9-5-2014 | Long | Buy on positive trading | ||
| 9-2-2014 | Long | Wait for buy signal | ||
| 8-28-2014 | Long | Caution | ||
| 8-21-2014 | Long | Wait for buy signal | ||
| 8-19-2014 | Long | Wait for a buy signal | ||
| 8-14-2014 | Long | Wait for buy signal | ||
| 8-13-2014 | Long | Wait for buy signal | ||
| 7-31-2014 | Long | Wait for buy signal | ||
| 7-15-2014 | LONG | Close on weakness | ||
| 7-8-2014 | Long | Caution/ close on hard selling | ||
| 7-7-2014 | Long | Close | ||
| 6-16-2014 | Long | Buy over 20sma/ Close on weakness |
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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, Yesterday’s candle implies buyer interest
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 is suggesting sellers are in control.
TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle implies the buyers 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
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Keep the inverse ETF’s close by and watch them closely they produce good money, fast
Symbols from TC2000
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