Rick’s Featured Trade Ideas

WB/Short (Internet Content) | Bearish “M” Pattern | 2-day Evening Star | 30-min Duce fail

WB| Plan your trade & trade your plan | May 3, 2016
Possible entry plan idea:   Short box $23.85- $22.21
Possible stop plan idea:   Protective cover above $23.85
Swing trade playground:  $23.85 – $18.63 = 21%
Playground risk reward: 6:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart is cracking
7:00 am:  The T-Line™ chart continues to crack, and the bulls failed to redeem the $207 line and weakness continues premarket this morning.

“Remember that a trend will stay a trend until it’s no longer a trend.”  For the past 10 days, the market has been controlled by the sellers (a downtrend), and now the $207 area is resistance rather than support.  The $203 area is starting to look like the next SPY target/attempted support level, which is very close to my 23.6% fib line.

The bearish evening star that created the sellers activity was on April 20.  From there, the sellers have created a lower high / lower low chart pattern that the buyers can’t seem to get out from under.  Late last night I took a peek at a few indicators:  TSV, MACD, OBV, Money Flow Index, and they all seem to suggest the same thing —  that the candlesticks and the trend are suggesting the sellers are in town, and they’re having a good-time party. It will be important to keep your eye on the candlesticks for clues on when the buyers start controlling price.  If the buyers can’t stop the party at the $203 level, then the sellers may move the party to just under $200… We’ll talk more about that later.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick

IWM:  Daily chart |Above $113.52 bullish | Below $112.20 weak
SMH:  Daily chart |Above $53.62 bullish  | Below $52.84 weak
IYT:  Daily chart |Above $142.19 bullish  | Below $140.55 weak
VIX:  Daily chart | Above $15.82 bullish  | Below $15.14 weak
USO:  Daily chart | Above $11.08 bullish  | Below $10.85 weak
UUP:  Daily chart | Above $24.32 bullish  | Below $24.14 weak

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (or more) within the next few days.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Members only
Keep your eye on the inverse ETF’s They trade well!
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.
To see all of today’s trade ideas Click Here

2-sma > T-Line™ = Minor trend up
T-Line™ > 34-ema = Intermediate trend up
2-sma < T-Line™  = Minor trend down
T-Line™ < 34-ema = Intermediate trend down

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.  A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

Energy Sector: XLE, SX90, ERX, USO  A close above the T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

SMH: A close above the  T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

IYT: A close above the  T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.  Learn more about the T-Line – Click Here

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

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.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.