Boring Summertime Grind

The SPY closed below Thursdays high with an inside day candle; the range continues to get tighter and tighter, suggesting a breakup or down is coming very soon. With yesterdays close still in the T-Band channel and the channels are still rising we remain cautiously bullish. Below $297.10 (last weeks lows) would turn us bearish. Below $297.10 would also be below the T-Band Channels.

The VIX-X is seriously trying to construct a bottom around $12.25. If the VIX-X chart pushed the price over $14.50 we could be talking about a ton of fear, below the $12.25 area we have the same old thing, market grinding higher. The 4wk New High/Low Ratio chart (T2122) is coming off the overbought area trying to get to the oversold area. (T2108) % of stocks above 40 Day Pma is sitting at 60 and under the 20-SMA on the 130 min chart.  Conclusion: The SPY remains in a slow bullish grind with intraday boredom and chop.

What We're Trading

✅ On Thursday (yesterday) we closed OXY for a small loss and closed 💲BABA for an 11.4% gain. AMD still hanging in the T-Band channel and really needs to get above $34.55. CPB closed with a Doji yesterday still above our support line. WBA has tested support now we need buyers, above $55.20 would suggest the buyers are back. X is having a tough time getting above the $15.00 area into the $16.00 area but seems to behold in place. XLF is in the T-Band trend, above $28.10 we are still bullish. 👉For more detail and the full list join us in the HRC trading room #1 Click Here and choose Trading Room #1 Password 8020👈

😊 Have a great trading day - Rick

Trade-Ideas

On Fridays we do not post trade ideas. Think about profits and getting rid of the dead wood. 🌞 Hope you all have a great weekend!

$50.00 discount with code: Privilege

🎯Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Comments are closed.

click/touch to navigate
Skip to toolbar