🌞 Good Morning Traders welcome to our Tuesday blog. Yesterday we closed F with a loss and bought,💲 CSCO calls, 💲 SPY puts and added to 💲 BABA on the Hammer. F closed below the 50-SMA. Bought CSCO calls with price near our green band line holding with the recent Bullish Engulf. Bought SPY puts with Fridays Bearish Engulf and yesterday’s Doji at the lower end of the T-Bands. We are still long INTC with 17.7%, INTC, news of AAPL buying one of there divisions. And OXY with 18.8%. 💲 We are also holding CPB, LYFT, and a few VXX calls

Pre-Market Thoughts

✅ Yesterday the SPY closed with a Doji following a Bearish Engulf; it will be important for the bulls to see buying above yesterday Doji $299.00. If the buyers can hold price above $299.00, then we may see a challenge of the recent top. If the buyers can not hold price up, then the sellers will look for the 50-SMA or lower. There are a couple of places the buyers might try to mount a charge like the 34-EMA area and between the 34 and 50 moving averages. The SPY premarket is trying to challenge the 15-Min 200-SMA, we would have to see a breakout and a test of the 200-SMA before the bulls can go too far. The VXX chart is still not showing any real fear while it tries to construct a bottom, I question is will it ever get off the ground. Transports (IYT) is in a wedge and needs to break one way, or another above $194.25 would suggest bullishly. Earnings, Earnings, Earnings, be cautious.

😊 Have a great trading day – Rick

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for the QEP → (QEP) Quality Entry Patterns). EPD, OXY, ATUS, KHC, BAC, KKR, BX, PG, MA    ✅ Check Earnings!

🎯Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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