Rick’s Featured Trade Ideas

CLDX/LONG |RBB | PBO flag|

SPY:  High resistance $210.92 | High support near $207.87
7:00 am:  T-Line™ Chart Bullish Friday’s close ahead of the memorial day weekend closed bullish up .43% just pennies away from the April 20 high.  Technology has led the way followed by healthcare and the financials hold third-place.  Basic materials brings up the rear of the 11 sector indexes I follow.
The leading sector for Friday was consumer cyclical up .80% while the loser was basic materials down .63%
The T-Line™ chart continues remains bullish with the T-Line™ leading the 14-SMA and the 14-SMA leading the 34-EMA. The SPY is getting a little overbought but no price weakness showing at Friday’s close.

Trading knowledge ignites successful stock trading.

All the best to your trading success!
Rick | Hit and Run Candlestick Team

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Rick’s Featured Trade Ideas

No featured trade idea today….. It’s Friday!!!!!  Take some profits, reevaluate your positions.

Remember why we have the freedom to trade the way we do.  Take a minute this weekend, stop and say thank you, leave a flower or raise a glass to someone you know, a friend, anyone that has a connection to those that have fought for our freedom.

SPY:  High resistance $210.92 | High support $207.87
7:00 am:  T-Line™ Chart Bullish even with a minor pullback
Pretty quiet day yesterday.  The SPY closed up .03% in a very narrow range painting a Doji at the end of the day.  The T-Line chart has confirmed our short-term bullish trend and price continues to support this trend as well.  Yesterday was the second day that the SPY could not push above the $209.76 resistance line, which will no doubt start to make swing traders a little concerned.  A pullback to $207 would be a perfect swing trader’s trade, and we would accept $206.25 reluctantly.  The candle pattern currently painted is what we call a “Doji continuation pattern.”  This pattern is when you have a sharp rise in price and then the next day print a Doji at the high end of the previous day.  Trading tip:  candlestick signals require confirmation.  A bullish push above $209.76 would no doubt cast the April 20 highs.

Top sector leaders yesterday were Utilities, Consumer Defensive, both Les the 1%.  The two sector losers also both by 1% Energy printing a bearish dark cloud cover candle and Financial Services also printing a dark cloud cover candle.

Luxury Goods fell by 4.20% – ouch | technology computer Systems rose by 2.44%

Trading knowledge ignites successful stock trading.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
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Rick’s Featured Trade Ideas

WLL/LONG |Higher lows | Bullish “w” pattern | Cleared the 200-sma|
WLL| Plan your trade & trade your plan | May 26, 2016
Possible entry plan idea:  Buy box $11.74- $12.70
Possible stop plan idea:   Protective below $11.74
Swing trade playground:  $11.74- $17.80=51%
Playground risk reward: 11:1 + depending on | entry | exit | stop

SPY:  209.76 is an important level to beat
7:00 am:  T-Line™ —–> Chart is Bullish
Yesterday, the SPY closed at $209.28, up .68% for the day and up 2.49% from May 19th or the past five days led by technology, healthcare, financials and energy comes in fourth.  The Bulls managed to close over the May 11 high or $208.50.  As long as they can keep this run, the next hurdle for the Bulls will be a climb over $209.76.

The T-Line™ chart price has definitely crossed to the bullish side the past two days, and the T-Line™ has now crossed over.  As of today May 26, 2016, a pull back to $206.25 would be acceptable for the Bulls, but a max pull back to about $207.00 would be preferred.

Trading knowledge ignites successful trading.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
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