UAA IS Setting Up, Weekly RBB

UAA is setting up on several time frames, but the weekly is the one that caught my eye. Bullish “W” pattern, Bullish Morning Star, Testing support with success, RBB pattern, Doji continuation pattern. With a 4-6% risk (depending on where it’s entered) the profit potential is pretty darn good. We will cover more details about stops and entries in the HRC trading room.

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Event Calendar

SPY • Let the Traffic Pass

Stay alert and cautious when playing in traffic, or maybe wait until the traffic passes. AAPL beat and pre-market it is trading above the daily 50-SMA, holding the 50-SMA today would be one of the bulls today. We have the Feds report today on top of more earnings, is this the perfect storm or what? So the SPY showed a bit of bullishness yesterday bouncing off our lower green support line. But let’s stay with reality! The 34-EMA is trending below the 50-SMA, and the 50-SMA is trending down. Price is still below our bearish trend line.

The VXX still hovering above the 200-SMA, let me know when it gets above the 50-SMA.

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Testimonial

I have been a member of HRC for five years, RWO for three years. I applaud the efforts of all coaches Rick, Doug, Ed and Steve (also fellow members) in helping me become a better trader than I was starting out and I am still learning. Doug reinforces the “Price is King” mantra every day since we traders tend to forget it in the midst of finding the next ‘sure thing’ indicator. Rick, will make us sometimes answer our questions to foster the thinking and quicken the learning process. Over the years, I have been in many trading rooms. I am here to stay. This room and its members are the best. Period!

Fred Narielvala

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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