You Gota Love Trend Lines TRUE bullish above $12.70 • Protective stop $12.30

You Gota Love Trend Lines

7-touches on a trend line screams “You Gota Love Trend Lines.” TRUE has used the same trend line for the past three months. Yesterday after a couple of weeks of consolidation TRUE ran the stops all the way to the trend line where the buyers couldn’t get in fast enough. The weekly chart is bouncing off the T-Line like a well-oiled machine. Holding over the $12.40 area is bullish for TRUE and over $12.70 we are thinking a bullish buy with a $12.30 protective stop. Check out the TraderVision blog for target zones.

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

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SPY • Rest and Test Soon?

WOW! What a great day in the market yesterday, the buyers pulled further away from the T-Line making yesterday the tenth day in a bullish T-Line Run. Reminder!!!! Monday is a holiday, and the market will be closed. Friday everyone will be thinking about getting out of town. Market volume will likely be low and slow so I for one will be thinking about profits today.

We have yet to test the recent breakout ($286.63) I would suspect we will soon see rest and test, just something to think about.

T-Line • Traders Best Friend

Ten days in a T-Line Run or Ten days of sweet money-making a trend! Price action might be getting a little far from the T-Line, we might need to see price action slow up a little to allow the T-Line to catch up.

****VXX – Has been trying shape a bottom for the past 8-days, over the T-Line could lite a little fire.

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Past performance is not indicative of future returns

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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