Today’s Swing Trade Ideas

LYB (Specialty Chemicals) has formed a RTB (rounded top breakdown) and a blue ice failure. LYB is in the process of putting in lower highs and yesterday closed back below the 50-day moving average on pretty good volume. With continued weakness and bearish follow-through, an $8 to $12 drop is very possible.

My entry plan idea:   I would prefer to short on an inside day, but I might have to settle for weakness below yesterday’s close with a caution not to chase it. I may be able to pick it up on a relief rally.
My stop plan idea: Today it will be completely dependent on where the buy is, but anything above the 50-day moving average would suggest the buyers are back in town.

Good Morning,

I have two ticker symbols I would like to share with you. The first one is the Vanguard Total Stock Market ETF VTI. If you open up your charts with VTI, you can see how this correction started with the candlestick bearish engulf, had follow-through and is currently below the 50-day moving average and has consistently been below the T-Line. Another chart I would like to share is the
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Today’s Swing Trade Ideas

NQ (Technology Sector Software Application) NQ Is a rounded bottom breakout with about 20% to the first target of the July 30 high and about 60% to the 200 day period moving average. NQ started with a Bullish Engulf on July 18 followed up with a rally and then consolidated along the big 3 for a couple of months. Over the past two weeks we’ve seen a double bottom, Bullish Engulf, bullish consolidation with follow-through.

My entry plan idea: (Long on September 23) I will add to NQ on consolidation in the buy box or a bullish breakout.

My stop plan idea: Current stop plan is a close below $6.30

• NQ, GPRO, BLOX, HIMX big hits from the H&R trading room several days ago ahead of the crowed.

Member E-learning tonight at 8 PM EST in the live trading room.

FYI, the trading room password will be changing after E-learning.

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