Rick’s Featured Trade Ideas
SB/Long (Shipping Ports) | RBB | J-Hook Breakout |T-Line™ Run |
SB| Plan your trade & trade your plan | April 28, 2016
Possible entry plan idea: Buy box $1.25- $1.41
Possible stop plan idea: Protective stop below $1.25
Swing trade playground: $1.25 – $1.90 = 50%
Playground risk reward: 8:1 + depending on | entry | exit | stop
SPY: Trending Bullishly
7:00 am: The SPY chart is suggesting a slow grind to the top, after a boring day yesterday waiting for the feds the SPY finally opened up closing above the T-Line™ and above the previous day’s Doji creating a little Bullish Engulf.
Premarket I see the futures are down which is pushing the SPY back below the T-Line™ remember the $207.00 area is extremely important for the Bulls to defend, simply put if the Bulls aren’t defending the $207.00 line the bears are attacking the $207.00 line.
Apple dropping yesterday is not helping the market at all today and the dysfunctional market in Asia seem to be holding the US back as well.
A big day for earnings- (F) Ford beat and now breaking above the 200-sma, I heard on CNBC that 3/4 of the stocks that have reported so far beat on earnings. Over time this should act a positive for the market assuming the trend continues and of course if non-US markets can pull it together. The China Spider ETF (GTC) is having trouble with the 200-sma
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The Bearish Mat Hold candlestick pattern tells the story of powerful commanders (the bears) and weak but determined subordinates (the bulls). Although the bears are firmly in control, the bulls attempt to overturn their rule for three ineffective days. In the end, the bears win the fight, seizing the reins once more and allowing the downtrend to continue. Rare and complex but usually reliable, the Bearish Mat Hold deserves a spot in your arsenal.
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Rick’s Featured Trade Ideas
FB/Short (Internet Content) | RBB Top| Dark Cloud Cover |Lower Highs |
FB| Plan your trade & trade your plan | April 27, 2016
Possible entry plan idea: Short box $109.95- $107.55
Possible stop plan idea: Protective stop above $109.95
Swing trade playground: $109.95 – $101.35 = 7.5%
Playground risk reward: 5:1 + depending on | entry | exit | stop
SPY: Trending Bullishly – Cation today could be crazy
7:00 am: I suspect that all the talk today will be about AAPL even more so than the FED, and I suspect if the Fed disappoints like Apple did, this market may be on a crazy roller coaster ride. Until the ride starts, let’s keep focused on the chart and what it’s up to. Yesterday, the SPY closed up $.31 with a Doji on the bullish side of the T-Line™. I’ve talked about the $207.00 area quite a bit over the last few days and how important it is for the Bulls to defend. The $207.00 area remains very important because it represents a major support area. If price runs below $207.00, then $203.50 then $201.50 become targets. A bullish rally from there could set us up for a bearish head and shoulders pattern. I can already see that volume in the market has been weakening just by putting a 50-day moving average on the volume bars. Yesterday I was talking with one of the Hit-And-Run Candlestick members, and they pointed out to me that the money flow index on the SPY has weakened as well as TSV; these are all hints and clues of how the market may react in the future. On the other hand, On Balance Volume remains bullish.
Always keep your eyes on price and chart patterns, because in my opinion, they are the best predictors of what the market is thinking. Always be aware of support and resistance, and ask yourself what happens if price falls through one support area. It’s not complicated; it simply means that the next area of support is the target.
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Rick’s Featured Trade Ideas
Alaska Trading Cruise July 9, 2017 | Learn More
ONTY/Long (Biotechnology) | RBB patter| Channel breakout | Weekly doji breakout |
ONTY| Plan your trade & trade your plan | April 26, 2016
Possible entry plan idea: Buy box $1.25- $1.38
Possible stop plan idea: Protective stop below $1.25
Swing trade playground: $1.25 – $1.70 = 36.8%
Playground risk reward: 7:1 + depending on | entry | exit | stop
SPY: Trending Bullishly
7:00 am: In a surprise end of the day push, the SPY closed back above the T-Line™ with a three-day low and all five days respecting the Bullish Engulf that was printed on April 18. The low of yesterday’s hammer came within pennies of support and may be the clue that the bulls are ready to take another bite out of the bears and possibly form a bullish J-Hook continuation pattern. For the bullish J-Hook continuation pattern to be formed, the bulls need to swing price above the recent high of $210.92. If the bullish J-Hook continuation pattern is formed over the next few days, it would be the fifth time the Bulls have constructed this pattern since March 1. Providing Janet Yellin and the feds choose their words carefully — or even better yet get out of the way — then I suspect the SPY is on a mission to test the $213.78 high of May 5, 2015. I’ll be watching for pullbacks and consolidation clues around $211.00 | $211.50 | $212.85.
I wrote about $207.00 needing to hold a few days ago, and as of today, it still remains the number the bulls must defend while reaching for new highs.
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