Today’s Swing Trade Idea

CHGG (Consumer Defense Sector Education and Training Services) Over the past few weeks, CHGG has printed a double bottom followed by a bull kicker that gapped over the big three. Recently CHGG has seen a little profit taking back to the T-Line for a PBO and is now trying to form a bullish J-Hook.

My entry plan ideas: A breakout of $7.40 or a buy below $7.40 and above the T-Line
My stop plan: A close below the T-Line

Good Morning,
SPY: We have had seven days of outstanding trading for the SPY as well as the entire market. In my humble opinion, the best way to take the emotion out of trading is to rely on the charts. Simply by using the candlesticks for price action, resistance and support and a couple of moving averages and you have it. In a bull run, price needs to always be bettering itself such as it has the past seven days. In a bull run, price needs to be challenging resistance and winning if it has recently been in a correction, just like the past seven days. In a bull run, price must be constantly working for the highest high just like it has the past seven days. If the bull run finds itself tapping resistance that it can’t get through and we start seeing negative candles, then we know that that bull run is tired and may need a rest. Following the charts does make trading easy and much less stressful if you just follow a few simple rules. By the way, yesterday the SPY closed just pennies below the uptrend line starting June 12, 2014 and ending July 30, 2014. By extending the line, you can see the next resistance mark.

IWM: IWM just like the SPY has done an outstanding job in its recent rally by clearing resistant hurdles and just like the SPY, it has more to go. The next resistance line will be $115.65 followed by $117.65

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VXX S&P 500 VIX Short Term Futures: Aclose below theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies we could be nearing a PBO, no sign yet, nearing support.

USO United States Oil Fund: Aclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies sellers are getting tired.

GDX Gold Miners ETF: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle Implies buyers are interested watch for buying

TLT: Aclose above the T-Line ™ implies the bull short-term swing traders are in control. Yesterday’s candle implies possible PBO coming.

The above are just my thoughts to myself just thought I would share with everyone.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

— Rick

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Keep the inverse ETF’s close by and watch them closely they produce good money, fast
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