Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
SGYP/LONG |RBB| Bullish “W” pattern | Morning star | Continuation pattern

 “The Alaskan Trading Cruise” – Deposit special between June 6 and June 12, 2016

SPY:  High resistance $212.34 | High support near $208.85ish
T-Line™ Chart: Buyers Trend | Candle price action Weak, Toppy
Yesterday, June 6, was another great day in the market for Hit-And-Run Candlestick members.  There were many of us who closed positions protecting profits.  Yesterday the SPY closed with a Shooting Star candle.  The Shooting Star candle is a clue that the market may be starting to tire and in need of a rest.
Taking a look at the sector indexes, I see basic materials, financial services and healthcare showing signs of stress, nothing serious as of yet.
Sector leaders yesterday were energy, communication services and real estate.
The volatility index VIX close yesterday with a belthold candle signal that closed engulfing, along with a double bottom.  These are the little clues that we as traders need to pay attention to.

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

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Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
IPI/LONG |RBB| Buyers support line

 “The Alaskan Trading Cruise” – Deposit special between June 6 and June 12, 2016

SPY:  High resistance $213.78 | High support near $208.85ish
T-Line™ Chart: Trending bullish | Candle price action Bullish
No rate hike, the market loves it! Yesterday the SPY closed over the April 20 high and looks as if it has the juice to take on the May 2015 highs.  Of course, we will continue to watch the candlesticks and price action for signs of change.  Until then, trade with the trend and the trend is bullish.  The top three leading sectors yesterday were utilities followed by energy and basic materials.

This is the kind of market where everyone should be making money, and it’ll help make up for a few of those trades that no one wants to talk about.  Have you ever noticed how much easier it is to make money when you trade with the trend?  Let’s not get complacent or lazy, so continue to plan your trades and trade your plan, follow the chart patterns and price action.

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

Today’s featured trade idea and my personal trade plan
OCN/LONG |RBB| Bullish Engulf| Inverted H&S | 3day chart doji continuation

 “The Alaskan Trading Cruise” – Deposit special between June 6 and June 12, 2016

SPY:  High resistance $210.93 | High support near $208.50ish
T-Line™ Chart: Trending bullish | Candle price action Doji
The SPY chart continues to suggest bullishness based on the short-term T-Line™ trend and the candlestick price action.  Friday’s Doji remained above the T-Line™, and the T-Line™ is bullish when you compare it to its partner moving averages.  It will be important for price to respect certain levels, such as $208.50 as support.  If $208.50 falls prey to the bears, then the $207.00 area will become a line that the Bulls must defend.

Here at Hit-and-Run Candlesticks, we do not promote picking bottoms or tops, but we do promote following price action with candlesticks and waiting for a bullish or bearish signal to be made.  Then we trade up based on that signal for a swing, whether its bullish or bearish.  The point here is patience, and let’s make sure that the Bulls can break out.

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