Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
S/Long |T-Line™ PBO| Higher Highs and Higher Lows
SPY: T-Line™ Chart: A close in needed over $202.20
Good Morning, Profit Traders,
Europe is trying to bounce back but volatility remains, and today we start the relief rally phase. The SPY is set up to open higher kicking off the relief rally from a very bruised and oversold market. It’s not the open or the midday that will be the most important hour of the day; it’s the close. The question is: Will we close over $200.20, the first resistance at yesterday’s close? Today, will it act as support after the morning positive relief? $202.15 and $203.35 will be important resistance numbers that the relief rally will have to deal with.
There should be some pretty decent trades today, but I don’t believe this relief rally will continue without constructing a bottom formation.
The $199.00 area clearly acted as support yesterday as noted in our June 27 morning note.
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 |T-Line™ trend Bearish
SMH: T-Line™ 2-hour chart |T-Line™ trend Bearish
IYT: T-Line™ 2-hour chart |T-Line™ trend Bearish
XME: T-Line™ 2-hour chart | T-Line™ trend Bearish
USO: T-Line™ 2-hour chart |T-Line™ trend Bearish
UUP: T-Line™ 2-hour chart |T-Line™ trend Bullish
VIX: T-Line™4-hour chart |T-Line™ trend Bullish
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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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.
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