Rick’s Featured Trade Ideas

WYNN/Short |H&S | BIF |
WYNN| Plan your trade & trade your plan | May 16, 2016
Possible entry plan idea:   Short box $94.40- $89.29
Possible stop plan idea:   Protective stop above $94.40
Swing trade playground:  $94.40- $76.20 = 19.5%
Playground risk reward: 6:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart suggest the sellers are in control.
7:00 am:  Friday the SPY closed below the 50-day simple moving average with three lower lows and three lower highs. The SPY may also be painting a bearish “h” pattern along with a bearish head and shoulders to failed highs after the April 20 high, and we’re approaching the deuce magnet.
I peeked at a few indicators this weekend:  On Balance Volume (OBV) is suggesting the sellers still have control and Time Segment Volume (TSV) also suggest the sellers have control.
Sorry to be so bleak, but I am just looking at the charts, no emotion.  I think we need to see a good strong bull move to reverse the weak attitude of the past couple weeks, or we could see the SPY take a trip to about $201.50 or even farther south.  Top to bottom, the 50% retracement is at $196.08.
Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  2-hour chart |Bearish h pattern | multi ice fail
SMH:  2-hour chart |Bearish h pattern
IYT:  2-hour chart |Bearish h pattern | multi ice fail
VIX: 2-hour chart | Higher lows | Positive trend line break
USO:  2-hour chart | Bullish trend above T-Line™
UUP:  2-hour chart | Above 24.65 would be bullish sign

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!

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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.