Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
DATA/LONG |RBB| C&H| Morning star | Bullish Flag

 “The Alaskan Trading Cruise” – Only a $100 deposit  June 6 and June 12, 2016
Plus bonuses from H&R and RWO.. Please be our guest for dinner July 8 for meet up and get to know each other.

SPY:  T-Line™ Chart: Buyers Trend | Candle price action Toppy Overbought
Traders Tip – Candlestick signals are not required to produce the very next day

I really would’ve thought that Tuesday’s Shooting Star in the SPY would have caused a lower low on Wednesday, but not only did we not see a lower low, the SPY was able to find a higher high and close up .33%.  If you trade the T-Line™ or are just simply familiar with it, then you have probably noticed in the past that price tends to not get too far from the T-Line™, and when it does, they both look to find each other.  In my 27 years of studying Candlesticks, one of the Trader Tips that I would like to share is that a candlestick signal or candlestick pattern is not required to produce results immediately.

I see the morning futures are down, so we should probably take a look where we might find support.  The first area of possible support I see is $210.90 followed by $210.12.  The third possible support line if we fail the first two would be around $208.50.  Overall, the SPY chart continues to be bullish and a minor profit taking pull back would be perfectly normal.  Below the $208.50 support line would give me concern.

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
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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