BW Is Now Above the Second Layer of Resistance

BW Is now above the second layer of resistance, and the RBB chart pattern has developed well. This week I will be waiting for a clue that the buyers have finished their profit taking.

The Market

(SPY) –  The Bulls managed to close with a Doji on support. Friday was the fourth day in a sellers pullback that found support near our $238.80 support line.

With the Cyber attack, this weekend here is a few stocks to keep an eye – don’t chase. CSCO, FEYE, SYMC, CHKP, PANW, CYBR, VDSI, and HACK

SPDRS Select Sector Technology (SPY ETF) has remained strong and steady while the other nine have are undecided to weak.  Utilities and Healthcare are trying to show signs of Bullishness, let’s let them prove it first.

Learn from Charts

On April 12 we posted to the Hit and Run Candlesticks Members HDP we setting up to push higher. It’s now into the void. Congratulations to the holders of HDP your up now 22%. Remember to talk a few profit along the way.

What is a Trade Idea Watch List?

A trade idea watch list is a list of stocks that we feel will move in our desired direction over a swing trader's time frame.  That time could be one to 15 days for example. From that watch-list, we wait until price action meets our conditions for a trade.

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