Today’s Swing Trade Idea

AAPL (Technology Sector Consumer-Electronics) AAPL was featured as our trade idea on July 8, and after a rough start for a couple of days, it did pull out a nice 4% profit. APPL has now pulled back to the 50-day simple moving average and painted a little hammer. The candlestick hammer may be the bottoming signal were looking for to receive a run to $100 or more, possibly a 6% to 10% swing this time.

My entry plan idea: (Bought Friday at 94.47) I will be looking to accumulate more shares between the 20-day simple moving average and the 50-day simple moving average. I also feel that this will be a good area for new buys with a stop at Friday’s low.

My stop plan: $93.26 unless price closes over the 20-day simple moving average; then I will raise the stop to the $95.65 area

Good Morning,
SPY: Friday’s bullish action was likely the start of the relief rally we’re headed into. I’m expecting a close over the T-Line today that could launch us into the 50- day simple moving average area. With the technical damage that has hammered the SPY, the 50-day simple moving average will be a hurdle that the buyers need to conquer. Friday left us with quite a few great looking 5- to 10-day chart setups and a strong bullish finish. We should see a few good bullish swing days ahead in this relief rally.

IWM: Friday left us with the close over the T-Line and a series of higher lows from last week. The current candle pattern is suggesting we have at least a day or two of good bullish swing trading in the IWM with it likely to visit the 200-day SMA. The big test will be if price can close over $114.30 and then successfully close above the 50-day simple moving average.

PLUG – was the featured trade idea on July 21; buying at the open and holding overnight could’ve produced about 22%. We recently bought PLUG back at $5.51 and are now into a new swing with a positive 6.3%.

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VXX S&P 500 VIX Short Term Futures: Aclose above theT-Line ™ implies the bullish short-term swing traders are in control, Friday’s candle implies sellers will be pulling profits.

USO United States Oil Fund: Aclose below the T-Line ™ implies the bearish short-term swing traders are in control. Friday’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. Friday’s Implies consolidation over the 20 day simple moving average starting to look bullish, Continuation pattern in play

TLT: Aclose above the T-Line ™ implies the bull short-term swing traders are in control. Friday’s Candle implies consolidation likely to the T-Line and 20 SMA

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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