Today’s Swing Trade Idea

CVLS (Healthcare Sector Biotechnology) CLVS has successfully formed a rounded bottom breakout after constructing a double bottom. Currently the last three bars are set up as a continuation pattern with about a 20% target followed by another 16% target.

My entry plan idea: Start a position below $42.38 and above $39.52.

My stop plan: For now I plan to use a close below $39.52 as my stop.

Featured On July 29
EGOV (Technology Sector Software) The chart pattern is a rounded bottom breakout. After the doji on July 10, the buyers stepped in with a bullish gap over the big three followed by profit taking and consolidation walking along the 50-day simple moving average. The last three days we have seen a morning star-type candle pattern.

A $600 profit could have been yours with the EGOV trade and a $5000 investment.

My entry plan idea: My plan will be to buy below $16.87 and above $16.23. I’m looking for a 10% to 20% move.

My stop plan: Just below $16.23.
Featured on July 11
DANG Long: (Consumer Cyclical Sector Specialty Retail) DANG has formed a double bottom on the 50 SMA and 200 SMA, closing yesterday with a Bullish Engulf after a multiple-bar pullback. With bullish follow-through and fairly decent market conditions, I’m looking for a 15% to 25% target.

A $1,700 could have been yours with DANG and a $5000 investment.
My entry plan idea: Will buy a partial on an inside day
My stop plan: A close below the 200 SMA

Good Morning,
SPY: The bullish relief rally is still intact even after the gap down yesterday. Price action closed with a doji above the T-Line. A close above the T-Line implies the bulls have short-term control. The current pattern being painted is a low, high, higher low. The first important number for the bulls to beat is $194.66 and then conquer the 50-day simple moving average.
IWM: Needs to challenge $114.22 today and the bulls need to put it behind them so they can attack the 50-day simple moving average. If the Bulls can do this successfully, then they have a chance to attack the July high.

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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

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

GDX Gold Miners ETF: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle Implies the buyers want to challenge the recent high, watching for a breakout.

TLT: Aclose below the T-Line ™ implies the bear short-term swing traders are in control. Yesterday’s candle implies profit taking is under way

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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