Today’s Swing Trade Ideas

TZA/Long   (Inverse ETF)TZA may be set up for short-term play to about $14.25, possibly higher but will have to evaluate each and every day

My entry plan idea: Would like to buy less than $13.50
My stop plan idea:   On a close below the T-Line

Good Morning,

SPY:  Last week’s candle pattern in the SPY is looking a little toppy, mostly to light volume in the market.  The question is:  How much will it carry over into this week?  And between retail sales, falling oil, aweak copper chart and job numbers this week, the charts could be quite wild.  My personal focus today will be on how the SPY closes.  At the time of writing this note, the futures are down showing the SPY as a possible gap down.  Note that the S&P 500 printed a bearish engulf last Friday.  Over the past 29 trading days, we’ve enjoyed seeing the Bulls hold price over the T-Line continuing to make new highs, so you can see the T-Line is quite important in keeping the current trend intact.  A close above the T-Line accompanied by a bullish candle indicates bullish confidence in the market, and a close below the T-Line with a bearish candle will indicate lack of confidence in the Bulls to maintain the current bullish trend.

 IWM:  Up until Friday, IWM was a bull traders’ swing trade dream.  Unfortunately, a half day of trading and the holiday took its toll.  One of the best things about candlesticks is they give hints and clues, warning signs.  Was Friday’s candle a warning sign?  The close in the candle formation today could be a very important clue on how the rest of the week plays out.

This Week’s Economic Calendar—> Click Here

Members Trade Ideas –  Members Only

In the members area you will find 10-15 trade ideas every day

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close below the T-Line ™ implies the bearish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX, USO  A close below the  T-Line ™  implies the bearish short-term swing traders are in control.

TLT: A close above the  T-Line ™ implies the bullish short-term swing traders are in control.

UUP US Dollar Index: A close above the  T-Line ™  implies the bullish short-term swing traders are in control.

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

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.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.