Pop Out OF the Box Setting Up

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Pop Out of The Box is setting up on HMSY. HMSY has been trending nicely and a few days ago gapped and as held higher than the gap close. The last four candles have tightened up forming the Pop Out of The Box pattern. The weekly chart looks like a little flag breakout with a Doji continuation pattern. Note the daily and hourly charts are closed Friday above the V-Stop but the 15 min closed below the V-Stop. Let’s stay on our toes this week, keep losses small and take profits into strength. We have added a few shorts to our watch list. For more details on the HMSY trade, please click the following link. Get the complete details including Fibonacci details TV2020 trade plan right here

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • A State of Rest

Friday we saw a little market weakness with the SPY dropping $1.91 and closing below the T-Line putting the short term trend negative. On the Bright side price did close above the 20-SMA. If the buyers fail to find support near the 20-SMA the 34-EMA and August low $279.40 are in the crosshairs. (VT) Total world Stock ETF has dropped below $75.20; this warrants extreme caution for the bull. I consider VT being below $75.20 and huge clue if we start to see the SPY break trend we will move money into a few shorts.

****VXX – The VXX gapped up and closed above the T-Line on strong volume, I suspect we could see a challenge of $32.50 this week. Bulls are cautious.

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