FOCUS: Stocks/Options Monday 8/20/19; Although we’ve discussed Dragonfly and Gravestone doji in the past, we never got around to explaining the simplest of all candlestick patterns: the basic doji, sometimes referred to as a “Doji Star.” Resembling a plus sign or a cross, the doji candlestick pattern is formed of just one candlestick, and it is incredibly common. Although there are several different types of doji (such as the Gravestone, the Dragonfly, and the Long-Legged), which we will describe briefly, today we’re focusing on the classic, original doji. To learn how to identify this informative candlestick pattern and interpret its presence, to read more on the Doji Click Here

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The SPY gapped yesterday found resistance at the 34-EMA and just under then 50-SMA closing with a Doji very near the bearish downtrend line. A bullish breakout in the next few days would give us a bullish “W” pattern. A close below the Dotted deuce would be a failed attempt of breaking out of the 50-SMA, and the August lows may get tested. We saw a ton of profits pulled out yesterday from the members of Hit and Run Candlesticks, WTG!!!!.

The I path Series B S&P 500 VXX Short Term Futures ETN  saw weakness yesterday closing on the 34-EMA and near the 5-SMA. Pre-market the VXX is up, a run and a close above $26.35 would be trouble for the market, and a race to the $27.45 area would put a great deal of pressure on the market.

😊 Have a great trading day – Rick

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Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. WDC, AGO, TWTR, AJRD, CVS, KR, AGI, AEM. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). We are currently long, CVS, and WDC. These Trtrade ideas are not recomendations.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 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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