Rick’s Featured Trade Ideas

WYNN/Short |H&S| BIF | T-Line™ Chart trending down

WYNN| Plan your trade & trade your plan | May 19, 2016
Possible entry plan idea:  Short box $91.40- $87.85
Possible stop plan idea:   Short stop below $91.40
Swing trade playground:  $91.80- $76.20 =16%
Playground risk reward: 7:1 + depending on | entry | exit | stop

SPY:  T-Line ™ chart suggest the sellers are in control.
7:00 am:  FEDS Hawkish, market down, dollar up, XLF up, OIH down
It doesn’t appear that the market likes the Fed decision of raising rates in June, or for that matter, any time.  As of April 20, the SPY has produced lower highs and lower lows.          Yesterday confirmed another low swing.  The SPY found support near the $203.90 support line, but I am finding it a little hard to believe that $203.90 will actually support price in the current market while in the current downtrend without a major bullish reversal signal.
Based on a couple Fibonacci lines and a little support and resistance work, I see a suggestion that $201.30 may be the next supporting line followed by $199.50-ish.

XLF, the S&P financial ETF, fared quite well yesterday closing with a Bullish Engulf; we still need to see confirmation above $23.27 and a close above the downtrend line overhead.

OIH, the oil services ETF, is forming a bearish pattern that we will be talking more about in the trading room today.  USO United States Oil Fund has found the 200–SMA, and we may see a little profit taking from here.

Trading knowledge ignites successful stock trading.
All the best to your trading success!
Rick
IWM:  T-Line™ chart |Trending down | below T-Line™
SMH:  T-Line™ chart |light above $54.00
IYT:  T-Line™ chart |Trending down | Bear Flag
VIX: T-Line™ chart | Trending up | Doji continuation pattern
USO:  T-Line™ chart | Trend | profit taking likely
UUP:  T-Line™ chart | Trend turn | Headed to 24.50

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.