OSK Signaled More Selling

OSK Signaled more Selling yesterday at the 200-SMA and formed a Bearish Pop Out OF the Box, and the 50-SMA has crossed below the 200-SMA on the daily chart. The weekly chart is a classic Bearish Blue Ice Failure. With a little bullish bounce, OSK may be ripe for short to about the $58 area. We will cover more details about stops and entries in the HRC trading room.

Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner and Rick Saddler at 9:10 am this morning. members morning briefing

ADM 41% • IWM 13% • SHLD 57% • FOSL 11% • IWM 49% • CVEO 29% • GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •

SPY • Earning Season is Here

So much for the bullishness yesterday! A case where the pre-market futures where in good shape but the crowd wanted more blood. So yesterdays low nearly made it to the 200-SMA. The bigger overall downtrend is still holding price back and causing the trading range to be getting smaller and smaller with a line drawn horizontally at $256.50 (where the bulls have found support in the past). The seller has had the advantage the past four trading days, and they will continue to have the advantage until they own the $267.70 area. The SPY is getting a little shorter oversold, but that is only part of the puzzle, you will need bullish price action and a breakout to belong.

Our VXX trade is working out nicely, with the bullish engulf yesterday. Without more fear in the market the VXX may start to flame out, fear would make it fly.

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In the past eight months, I have been a fortunate member of Hit and Run Candlesticks Right Way Options. The education on a day-to-day basis is both informative and fun. The E-learning further cements the learning experience along with the educational archives and methodology. If you enjoy working with other members to solve mutual options strategies engagingly with a sense of purpose, then this membership can be yours.

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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

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