Doji Continuation Pattern Challenging Breakout

THS has crafted a Doji Continuation that is challenging recent highs for a breakout. Starting about July price action stated to draw a Bullish “W” Pattern that confirmed on August 23. Followed by a six candle T-Line Run, an Engulf and a Doji yesterday has set the chart up for a Doji Continuation Pattern. The 34-EMA has crossed back over the 50-SMA to confirm the trend price started early August. We are bullish on THS over $54.25 with a protective stop about $52.30

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

August “Road To Wealth” trading statement posted here Monthly Trading Results

What’s on Rick’s watchlist today? New brokerage statement says 258% increase.

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SPY • DIA’s

The SPY failed to close over the Inverted Hammer and the T-Line (8-EMA). Price did break the new low streak by making a higher low and high. The SPY is in a place of indecision, struggling to make a choice. I also think the important chart to look at today is the DIA’s. The DIA’s closed yesterday with a Bearish Engulf and the pre-morning trading suggest the Bearish Engulf will see follow-through likely to test the 20-SMA. If the buyers can not step in front of the sellers, the DIA’s may see the 34-EMA by the end of the week. The Bulls need to carve out a reversal pattern that pushes the price over the T-Line at least once to start the bullish climb.

****VXX – VXX gaped down yesterday to the T-Line and held forming a Doji. If fear steps to the door price action could easily challenge the 50-SMA. If the VXX chart is successful with the 50-SMA, the $35.00 area is a good probability.

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