Rick’s Featured Trade Ideas

SONS/Long |Breakout | PBO to support | Flag |Rising T-Line™

SONS| Plan your trade & trade your plan | May 10, 2016
Possible entry plan idea:   Buy box $8.05- $8.70
Possible stop plan idea:   Protective stop below $8.05
Swing trade playground:  $8.05 – $13.10 = 62%
Playground risk reward: 5:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart sellers in control, and candlesticks suggest bulls are trying.
7:00 am:  Friday’s Bullish Engulf came within pennies of tagging one of our horizontal support lines followed by Monday’s bullish Doji (closing high on Friday’s Bullish Engulf) is suggesting that price may try to win over the $207.00 area once again.  A close over $207.00, as we’ve stated several times in the past couple weeks, is what the Bulls need to take on the April 20 highs which could help push price into the all-time highs.   The 20-day simple moving average is resting at $207.52, and if the Bulls can close over the 20-day simple moving average, this will show strong bullish intention.  Follow-through is very important here because of that left shoulder hanging out in early April.
My T-Line™ chart still suggests the sellers are in control, but the Candlestick signals are suggesting a price turn may be underway.  If price falls short of controlling the $207.00 area, the T-Line™ chart will win out and the sellers may win the overall game by cracking the $203.73 support line that the Bulls have recently found support on.  Once again, I want to strongly suggest that we pay attention to the $207.00 area and what the paint on the canvas is trying to tell us.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  Daily chart |Above $112.00 bullish | Below $110.80 weak
SMH:  Daily chart |Above $52.93 bullish  | Below $52.13 weak
IYT:  Daily chart |Above $140.64 bullish  | Below $138.64 weak
VIX:  Daily chart | Above $15.66 bullish  | Below $14.92 weak
USO:  Daily chart | Above $11.08 bullish  | Below $10.80 weak
UUP:  Daily chart | Above $24.30 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.