Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
ETE/Long | Bullish Engulf| Continuation pattern2 |  J-hook pattern

SPY:  T-Line™ Chart: $209.79 will prove to be resistance or support 

Good Morning, Profit Traders,

The morning futures are up and the market seems happy, at 6:50 AM the SPY is at $210.10.  Last night as I was looking at charts and I drew a line at $209.79 which is resistance so the market bullish trick today will be to close over $209.79.
With a successful bullish close over the $209.79 line there is a high probability that June 8 high will be tested.  On the other hand if the sellers can close below $209.79 the May 19 low may be under attack.
Yesterday several members and myself agreed that there are quite a few good-looking charts setting up for profitable runs and if the market continues to act bullish during the trading day as it is now we should see terrific profits.  If the market does in fact show a gap at the open be very cautious for the first hour.  Members of Hit-and-Run Candlesticks have been taught not to Chase.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.

IWM:  T-Line™ 2-hour chart |Resistance at 115.90 and 116.43
SMH:  T-Line™ 2-hour chart |Resistance at 57.82
IYT:  T-Line™ 2-hour chart |Resistance at 138.08
XME: T-Line™ 2-hour chart | Resistance at 24.15
USO:  T-Line™ 2-hour chart |Resistance at 11.78
UUP:  T-Line™ 2-hour chart |Resistance at 24.31
VIX: T-Line™ 2-hour chart | Support at 18.66
Each day a trade idea list is 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.

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.