HRC Member’s – Go to the members’ area for today’s stock picks Members Link
No featured trade idea today – see the stock pick lists below
Good Morning, Profit Traders,
From a bull’s eye: Another day great day for the bulls and another great day for the Hit and Run Candlesticks / Right Way Options Team and members.
Yesterday’s doji’s close could be setting up for a bullish doji continuation run. The top wick that was produced gives me a little concern because the 30-min chart has dropped into the T-Line bands, the hour chart also showing signs of stress.
Also if you are in the room yesterday, did you see how UVXY kept showing itself on the scanner?
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Members Daily Trade Ideas. Be aware of sudden market changes!
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HRC Member’s – Go to the members’ area for today’s stock picks Members Link
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
TWTR Long 5-Day Morning Star
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
We have closed a couple double-digit gains and holding FRIGI +16.5% – Expecting double-digit gains from PARR, WETF, ESND, CEMP, UAN, EDIT, ITCI, NDLS
From a bull’s eye: Is this the perfect bullish storm for the market? Transports are moving higher, the major indices are moving higher even the Q’s are seeing a ray of sun.
The SPY broke out yesterday with a solid close above $221.82 which now becomes the support area. With normal profit taking along the way $228.00 area is the next up point we are watching.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ITCI Long Inverted Head & Shoulder | Doji Continuation pattern |
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
**We have added a few new longs, we have set up the trade plan for Double-Digit gains
From a bull’s eye: The SPY has found support a1 $219.15 reversed and is now positioned to form a J-Hook continuation pattern (a breakout and follow-though is still needed). $222.20 followed by $224.00 would be good directional targets for the swing trader. $220.40 is now the new minor support line while $219.15is the major support line.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
WAC Long Cup & Handle | Belt-hold | 3-Day Morning Star |
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Italy voters say NO and the morning futures are higher, but will the bulls win by the end of the week or will the bears?
Follow the chart. (SPY short term) A close above $220.90 would put the bulls in a good position to test last week’s high while weakness below $219.15 would suggest the sellers have the upper hand.
The SPY and IWM charts still suggest the bull is in control with minor profit taking.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SGY Long | RBB | Double Bottom | Morning Star | Bullish Engulf 3-day chart
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bear’s eye: Yesterday the IWM chart confirmed a bearish Doji Continuation pattern, price closed below the upper T-Line band and the T-Line, this action suggest the short term sellers are taking control. If the Lower T-Line band is cracked the possibility will increase to a $130.30 test.
The SPY’s Bearish Engulf has closed below the upper T-Line band putting the $219.75 line and the lower T-Line band in jeopardy.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HSC Long | Bullish “W” Pattern | Bull Mat Hold | Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday the SPY printed a Doji supported by our $220.50 line, keeping the T-Line™ Run intact.
IWM not as productive as the SPY was. IWM printed a weak Doji with sellers pushing the buyers to the bottom of the candle, T-Line™ Run still working. 60-min IWM chart closed below the T-Line™ lower band suggesting short-term weakness.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ESND Long | Inverted Head & Shoulder | RBB | Continuation pattern
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Is the market tired and in need of a rest? IWM ended the day with an Evening Star Signal which suggests well-deserved profits are being peeled off.
Yesterday early on I mentioned to the trading room I would be keeping my eye on the hourly chart and you can see the channel tightening at the top and the sellers attack the lower support line with success.
The daily Evening Star Signal on the IWM chart suggest a lower low today, in the very near future, we could see a test of $130.90.
Follow Hit and Run Candlesticks for your updates.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SQ Long | 3-day Cup & Handle | Ascending Triangle | PBO-Bullish Engulf
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: (SPY) Price continues to trade and close above the High T-Line™ Band. Until the High band is violated we will keep riding the bull.
No trader is denying the bulls are in total control and no trader is denying the market is very overbought. Being overbought is not a reason to close longs and run to shorts but it is a condition that we should be aware of.
I see support on the SPY daily chart near $218.85 and that is very near the 23.6 Fib retracement. On the 1 hour chart, I see support near $220.50
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Rick’s Featured Trade Ideas
Members Trade Ideas below (click read more) no featured trade idea today.
Good Morning, Profit Traders,
From a bull’s eye: A bullish T-Line™ Run is in progress on the SPY as of the close. Wednesday’s price action and candle formation suggest the buyers outnumber the sellers.
I have SPY support at $219.60. A close below $219.60 could put $217.85 to the test.
Members Daily Trade Ideas. Be aware of sudden market changes!
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
HDSN Long | Trending | Rectangle Breakout | Bullish Engulf
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This not a recommendation to buy. I am simply sharing a trade I am considering.
Good Morning, Profit Traders,
From a bull’s eye: Yesterday we closed out 1/2 of our OCN for a 25% gain and we’re still holding FRGI, STX with double-digit gains and EXAS short with a double-digit gain.
The SPY and the overall market is still enjoying a bullish rally and yesterday’s close suggest the buyers outnumber the sellers. A close below $219.85 could push a test of $218.50.
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