Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
DVAX | RBB |Morning Star |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
Bottom Line, this is a very boring market! DIA’s are a little closer to a possible support level; the SPY, IWM and the QQQ’s remain above the T-Line™. The QQQ’s produced a very concerning high wick yesterday.
Keep in mind, this is only the 30-min chart. I am seeing a slight crack in my 30-min chart on the SPY and IWM, the DIA’s cracked a few days ago. The QQQ’s, depending on how they close today, could also show signs of cracking.
The Bulls/Buyers still have the upper hand, and a minor pullback may offer a buying opportunity. We will be watching support for buying opportunities or weakness.
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
LIFE | RBB |Buy box 3.15 – 3.60
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
**** Password change for the Trading Rooms*****
The SPY and QQQs remain in bullish territory with price leading the T-Line™, and the DIAs are still in bullish territory while fighting the T-Line™ in a mild pullback. If the SPY cracks $215.50, a support test at $213.40 will likely follow. We remain bullish and very cautious at the same time with oil falling and 20-year treasury bonds rising.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Any trader worth his or her salt knows that, when relying on a forecast provided by Japanese candlesticks, it is always best to wait for confirmation. By watching what happens right after a signal pops up, you can verify the reliability of the pattern. Thus, if you can afford to hold your horses for another trading period, you can increase your confidence and peace of mind before making your trade. Some signals, like the Three Outside Down candlestick pattern, are built upon the concept of confirmation. After all, when it comes down to it, the Three Outside Down is just a confirmed Bearish Engulfing signal.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
BG | PBO buy box 62.25 and 65.67 |J-Hook continuation | Morning Star
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The DIA’s are desperately searching for footing so they can call it support, closing below the T-Line™ yesterday and creating another lower low. The morning futures at the moment suggest an open below the T-Line™. The QQQ’s are strong while IWM and the SPY are a bit flat. SMH is a huge leader while IYT struggles. There are only three directions the market can go: up, down or sideways. When the market moves sideways, swing traders become frustrated and impatient and can lead to mistakes like forcing a trade because you feel like you have to put a trade on. Don’t worry; the market will find a direction.
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
EXK | J-Hook |T-Line™ POP |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
Janet Yellin had nothing to say that moved the market one way or the other, to speak of. Facebook earnings were positive, and the overall market basically floats along sideways. IWM showed healthy signs of bullishness closing the last two days above the breakout line while the DIA continues to nurse a bum leg.
Six days ago, DIA presented us with a evening star and that evening star has kept the Bulls working overtime keeping price held above water. The 1-hour chart of the Dow Jones industrial average ETF is showing signs of weakening and a small crack in the chart. Of course, it’s just the 1-hour chart and it simply offers a clue.
For now, the overall stock market remains bullish, and the Bulls continue to dominate.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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