Bearish chart pattern Video Webinar June 14, 2016
Swing Trade ideas June 15, 2016 Alaska Trading Cruise...Check it out
Rick’s Featured Trade Ideas
No Featured trade idea today
SPY: T-Line™ 2-hr Chart sellers in control at the close yesterday
Good Morning, Profit Traders,
Alaska Trading Cruise….Check it out
Yesterday’s low in the SPY, $206.92, came within eight cents of our $207.00 number that we have talked about. Yesterday’s gap down Doji close found support on our $207.00 support line with a Doji close back above the 50-day simple moving average. Other than the T-Line™ crossing below the 14-SMA, the T-Line™ trend chart is still in favor of the Bulls while the recent price action has been in favor of the bears. With the recent bear pullback on the daily chart, the weekly chart has been painting a bearish Shooting Star pattern. In the Hit-and-Run Candlesticks trading room, we have been very conservative and warning of caution. Right now we are in dangerous waters with uncertain wind changes, and let’s not forget about the sharks. The wind and the surf should quiet after Janet and the Brexit vote. Keep in mind that most of today’s price action will most likely be positioning and guessing on what Janet has to say and the Brexit vote. The technical trader doesn’t guess; the technical trader follows the charts for direction and insight.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
Swing Trade ideas June 6, 2016 Members e-Learning tinight 5pm PST | 7pm CST | 8pm EST
Rick’s Featured Trade Ideas
No Featured trade idea today
SPY: T-Line™ Chart: 2 and 4-hour chart breakdown | 15-min 200-FWsma has now broken below the other 2 deuces.
Good Morning, Profit Traders,
In yesterday’s morning note, I mentioned the numbers of $210.27, $209.15, $208.50 and $207.00, and that the bears have clobbered the first three lines and now they’re going after the $207.00 line. If the bears can manage to close price below $207.00, that would be below our T-Line™ grouping and will put a tremendous amount of pressure on the bulls. $205.00 is the next line for the bears to take over after $207.00.
On the bullish side, if the Bulls can circle the wagons and defend $207.00 with a follow-up bullish run, the overall bullish trend would remain intact. Once again, the $207.00 is in the spotlight.
In the trading room yesterday, I talked a lot about caution and about a brand-new ticker symbol, CIAP. You won’t find this ticker symbol on any chart; it’s a special ticker symbol that we use at Hit-And-Run Candlesticks to help members realize you don’t have to trade every day.
C-ash
I-s
A
P-osition
Because the market is so close to possibly jumping out of the window and so close to finding support and becoming a bullish monster, it is my feeling that we should wait patiently for a clue to the next leg. Therefore, there will be no featured trade idea or stock picks today; however, in the trading room, we will probably find something live that we can trade.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
Swing Trade Ideas June 13, 2016
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
CNX/Short| “M” pattern | 5-day Evening Star
SPY: T-Line™ Chart: 2 and 4-hour chart breakdown
Good Morning, Profit Traders,
Prayers to Orlando victims and families. Our thoughts are with you; you are not alone.
In last Friday morning’s trading note, I wrote that unless the buyers participate, we would see $210.25. Premarket numbers, the SPY is at $210.27 as I write today’s trading note. I also noted in Friday’s trading note that without buyer participation, $209.15 and $208.50 were likely lines to be tested.
It’s worth noting that on the five- and six-day chart, the SPY has produced a Shooting Star candle which means the battle between the Bulls and the Bears this week could be a very important turning point. Friday’s gap down below the T-Line on the daily chart and a close below the open suggest the sellers are leading the short-term battle. Friday’s win for the sellers has put a new number on a possible target of $207.00. If the sellers can take us down to $207.00, the daily chart will begin to look like a Bearish “M” pattern.
Traders’ words of wisdom – For the next few days, lower position sizes, cut the number of trades in half, tighten up on your risk level. Before you pull the trigger, take a five-minute walk, paint your house rather than trade. Here is a ticker symbol that I will be following very closely this week, CIAP; the company name is Cash Is a Position.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
Bearish Side by Side White Lines
They’re two of a kind, a perfect pair, practically twins: the two white candlesticks in the Bearish Side by Side White Lines pattern are the same color and roughly the same size. But despite their aesthetic similarities, they’re actually trying to tell investors about a moment of discord. For two days in a row, the exact same thing has happened. No progress has been made. What’s going on? To better understand what the Bearish Side by Side White Lines pattern is trying to say, scroll down.
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