Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
CHK | PBO Flag |Breakout |  Piercing candle

Good Morning, Profit Traders,

The T-Line™ is a powerful timing indicator
For nine days now, the SPY (market) has been In a consolidations box just waiting to break one way or the other.  The $64,000 question is what direction is it going to break?  Maybe the SPY (market) is waiting on FOMC meeting results.  If so, we should know something today.  Maybe the SPY (market) is waiting for earning reports before making a directional move.

Over the years I have learned to not fight the trend and price action despite what other indicators may be suggesting. As of the close yesterday, the trend remains bullish.
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
FRAN | RBB  |T-Line™ Consolidation |  Hammer

Good Morning, Profit Traders,

Watch the T-Line™ The T-Line™ is a powerful timing indicator
This week is loaded with news and information that could give the market a boost to the upside or shove it off the ledge, so trade wisely and remember why we’re trading.  Although the major indices are still closing above the T-Line™, I am starting to see a possible crack appear.  The crack may be nothing more than good old-fashioned profit taking followed by the resumption of the bullish trend.

The DIA has painted a chart that looks extremely suspicious, an evening star last week that appears to be holding water.  A week ago, the SPY printed a bearish engulf that continues to have a say in what price is doing for the past few days.  There are few indicators that I peek at some evenings and every weekend, and last night I took a peek at the following indicators for the overall market:  T2122, MACD, TSV, OBV, price action and what’s oil up to.  My conclusion is simple.  Unless there is positive news that comes from the FOMC meeting and/or really good earnings reports, I believe that we are positioned for a profit-taking pull back.

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
FRGI | RBB  |PBO – Flag |  T-Line™ Run Trend
SPY:  T-Line™ Chart |  Bullish

Good Morning, Profit Traders,

For the past 16 trading days, the SPY and the T-Line™ have worked together to create a beautiful T-Line™ run, and consolidation started to occur on July 14 with a bearish engulf.  The bulls were able to stop any bearish follow-through and hold their place until the T-Line™ caught up.  The Bulls ended the week on a positive note, closing above $217.00 clearing the way for the next bullish leg getting ready to break out.
If the bulls are able to win the $218.50 flag, $221.60 would be next.

FOMC, Bank of Japan, BOJ and earnings. This is a busy week, could be good, could be bad. Follow the charts, stick with the basics and trade what you’re comfortable with.
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
MWW | RBB  |PBO – Bullish Engulf  |  J-Hook continuation pattern setting up
SPY:  T-Line™ & 34ema 1-hour chart watching closely
Here is what one of our members had to say yesterday:  “Rick, just wanted to say thanks.  This month I have had 3 wins and 3 losses, but the losses were very small and only 1/4 of the wins.  First profits in months.  I listen and note what you say and trade the plan.  Yes, still making some mistakes, but really learning!”
-Mary V.

Good Morning, Profit Traders,

We have looked at $215.35 as support for a few days, and now that the T-Line has caught up, we will be using a combination of $215.35 and the T-Line to determine whether the Bulls or the bears are in charge of the market swing-trade direction.

Yesterday, the SPY closed down .38% forming a possible evening star signal.  On a longer-term chart such as the weekly chart, you can see a possible Doji continuation pattern being built.  Bottom line, we have resistance at about $217.05 and support at $215.35, and until we break out or break down with confirmation, we will continue to trade exactly the way we are, predominantly long and taking profits into strength.

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