Life is Simple Just Add Water. Yesterday 7/9/2019 we bought BABA near the lower red T-Line support band and ended the day up 3.3%, a few more buyers and follow-through would make chicken and gravy. We also bought INTC yesterday 7/9/2019 near the lower red T-Line support band, up for the day 2.6%, let the games begin. AMD up 13.9% is working hard to challenge the June 10, candle. SNAP up 18.1%, holding in the T-Bands with a Doji close yesterday. WBA is walking up the Green T-Band looking for a breakout.
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After papping down, the SPY closed up 0.37 still floating in the T-Bands and the T-Bands are still trending up. Yesterday candle closed over the previous candle putting a bullish spin on the chart pattern. Now If only the market likes what the FED has to say we could see the $300.00 number tagged and a J-Hook Continuation pattern drawn. Below the Blue band, the Red lower band will be the target ($293.00ish) The VXX chart is trying to hold a bottom but shows no fear at all. If fear kicks in we should see the VXX chart move above $25.10. We are still prepared for chop today while managing our positions.
😊 Have a great trading day - Rick
✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for for the QEP → (QEP) Quality Entry Patterns). OPK, BIIB, BSX, V, MA, BX, KTOS, ARLO, IOVA, AIG. Check Earnings!
Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.
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The LTA Scanner can filter out charts that are trending, up or down and alert on charts that have Candlestick signals and patterns, western patterns and when indicators, such as MACD, Stochastics, RSI or Bollinger Bands have crossed or reaches the desired level. 😎 One of my favorites is the T-Line Band Scan. The right tools for the job.
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