NEO (Healthcare Sector Diagnostic and Research) NEO was a featured trade idea on August 18 and continues to look bullish coming from a doji bullish engulf and morning star reversal signal followed by a T-Line run/consolidation and looks poised for the $5.90 area and then the $6.20 area.
You’ve lit dozens of candles over the years, I’ll bet: birthday candles on top of frosted cakes, scented candles to mask unpleasant odors, decorative candles during the holidays, and maybe even purely utilitarian candles when your electricity was out and you couldn’t find a flashlight. Picture the shape of a candle in your head. There’s the body, which is typically cylindrical in shape (boxy from the side), and there is a slender wick, which extends from the top. Keep that basic shape in mind, because today we’re learning how to read a candlestick chart.
(No Featured trade Idea today)
My entry plan ideas
My stop plan:
Good Morning,
SPY: The past two weeks the spy as well as the overall market has been outstanding for the bullish minded swing traders, day traders as well. The all-time new highs are quite an accomplishment. Yesterday in the trading room we talked a little bit about how a successful swing trader might trade in the direction of the current overall market trend and be 99% invested in that trend whether its bullish or bearish but always good to keep one eye on the flipside. If the market and the overall attitude is bullish the successful trader might want to keep the short trade scans and inverse ETF’s close by and handy in your toolbox.
