Today’s Swing Trade Ideas

GMCR/Short (Defensive sector packaged foods) GMCR is forming a dreaded “H” pattern after a lower high failing the 50-day simple moving average. The 20- period moving average has now crossed below the 50-period moving average. I’m looking for GMCR to drop close to another 10%.

My entry plan idea:  On an intraday bounce inside yesterday’s candle or on weakness below yesterday’s close but with caution not to chase.
My stop plan idea:    $136.80

Good Morning, 

SPY:   The overall market remains controlled by sellers in the SPY below the 50-day simple moving average yesterday showing no signs of a true bullish reversal and only possibilities of an oversold bounce. Yesterday, we did get a relief rally early in the morning but quickly lost enthusiasm as the sellers are not ready to let go. Of late, I’ve been watching our T-Line chart consisting of the T-Line and the 2 EMA and, of course, price. If you take a look at that chart, you can see how the sellers have taken control and continue to drive not only price but the T-Line lower. The big key is when to reverse and be long. The answer is quite simple: If you’re following the T-Line as a guideline, when price starts to show positive trading above the T-Line, and, of course, we will also look for strong candlestick reversal signals along with a reversal bottoming pattern. Until then, the sellers have complete control so don’t fight them. Consider short trades or inverse ETFs.

IWM: Again, using the T-Line, you can see how price has been closing below the T-Line and the 2 EMA has followed. Price also closed below the 50-day simple moving average yesterday and the T-Line is about to run below the forward weighted 50 SMA. Once again, there are no signs of buyers stepping in and only sellers pushing price lower. Follow the T-Line. I have found it to be a swing trader’s best friend.

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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.

Symbols from TC2000

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 above the T-Line ™ implies the bullish short-term swing traders are in control. PBO coming.

Energy Sector: XLE, SX90, ERX, USO A close below the T-Line ™ implies the bearish short-term swing traders are in control.   No buy signal as of yet.

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

UUP US Dollar Index: A close below the T-Line ™ implies the below short-term swing traders are in control. Dollar may be trying to weaken, wait for conformation.

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.