Today’s Swing Trade Idea

XXXXXX (No Featured trade idea today) Today being Friday, it’s important to think about how your week has gone and what you can do to end your week on a positive note, no matter how small. Take some time today to reflect on the market and your trading. Have you been fighting the market or have you been working with the market? Are you a friend of the market or are you a foe?

My entry plan idea:
My stop plan:

Good Morning,
SPY: I don’t think we can avoid the 200-day SMA. That means another 2.5% to the dark side, and the SPY may try to bounce but likely go nowhere. The SPY continues to show bearishness as the sellers have complete control below the T-Line. Yesterday the sellers were able to paint a bearish engulf suggesting a lower low today. We are now at the point where the 200-day SMA will start to act as a magnet and drop price into it as if price will think it is a safe haven. Unfortunately, if the perception of the investors around the world is concerned with skepticism and nervousness, price will continue to fall through the 200-day SMA. Of course, we are likely to see a relief rally at some point.

TVIX: As I write the morning trading note for today, our featured trade idea from a couple of days ago (TVIX) is now up 12.39% pre -market from my average entry of $3.08. Seeing how this is Friday, some traders may want to close the position today and protect their profits going into the weekend while others may only take 50% off the table and set a stop to protect the balance. Whatever you choose to do, just always remember: profits, profits, profits.

EXK: This was our featured trade idea yesterday and is showing signs of a 10% to 15% swing trade. Important note, earnings are coming soon.

IWM: IWM has a support floor at $107.50 which is 3-1/4% below from yesterday’s close. This would make the third time IWM has knocked on this door since February of this year. Obviously, all eyes will be on that $107 .50 level, and I can’t stress enough to you how important it will be.

A bearish market/chart is nothing to fear; embrace it and trade with it.

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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, Yesterday’s candle implies bullishness

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

GDX Gold Miners ETF: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s Implies consolidation over the 20 day simple moving average starting to look bullish

TLT: Aclose above the T-Line ™ implies the bull short-term swing traders are in control. Yesterday’s Candle implies the buyers want a higher price, 117.50 would be a good first target area.

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
No trade ideas today
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