Not much change in the market, the bulls continue to ride the T-Line train to bull town. Price gapped down yesterday and closed with a Doji on the T-Line. The bull-bear T-Line (Reg/Green T-Line) held with a green trend on the gap down so we will remain cautiously bullish as the buyers climb the wall of worry. Earnings kick off this week and could be the catalyst that pushes price action up to and over the $300.00 mark on the SPY. A little caution: The VIX chart pushed a little yesterday closing over the T-Line turning the trend green. The VIX is a huge clue in the fear or lack of fear in the market. Trade well, Trade smart my friends.
Today’s Action plan: Manage current positions, taking off a few profits when presented. Yesterday we took profits on FDX and will consider a reentry of the chart presents itself. The LTA Scanner is already turned on, and we’re both ready for a great day.
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