Rick’s Featured Trade Ideas

No Featured Trade Ideas Today

SPY:  2-hour chart under pressure, under $207.00 warning
7:00 am:  Retail is getting hammered, and it looks like Nordstrom (JWN) is its newest victim while Macy’s has been feeling downward pressure for some time now.  Walmart, the king of retail, looks to me like it’s pharmacy needs to stock up on aspirin because it’s about to have a headache.

The overall market is starting to look fairly weak.  The SPY is back below the $207.00 support level and the 2-hour chart looks as if it’s ready to break down through my deuces.  The QQQ’s are already below the deuces with support about to 2% below.  IWM has slipped below the deuces currently forming a bearish “h” pattern while the diamonds are hanging on by a thread.  The transports (IYT) are in horrible shape forming a multicolor ice failure along with a bearish “h” pattern.

As always any positive catalyst can turn the charts positive, but at the moment, the major indices are just not looking so good.  There’s no doubt we’ll find some long charts, and we will make money, but they must be traded differently and with caution.  A few short trades at least on your watch list might be prudent and as always remember cash is a position, too.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  Daily chart |Above $112.41bullish | Below $110.98 weak
SMH:  Daily chart |Above $52.63 bullish  | Below $51.97 weak
IYT:  Daily chart |Above $140.80 bullish  | Below $138.70 weak
VIX:  Daily chart | Above $14.27 bullish  | Below $13.80 weak
USO:  Daily chart | Above $11.14 bullish  | Below $10.86 weak
UUP:  Daily chart | Above $24.36 bullish  | Below $24.26 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.