Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
NMBL | RBB | Morning Star |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
Retail rallies; oil moves higher. Members are killing it with profits; Hit and Run Candlesticks closed ONC for 60% and EXK for 19%. The market is in a bullish frame of mind with price leading the T-Line™. It’s Friday and we will be surrounded by friends in the trading room today! It just doesn’t get any better than that!
Interestingly, the VIX did not move lower yesterday. Never take your eye off the ball. Always be suspiousis and cautious as it may mean nothing, but the oversold VIX trying to build support while the market moves higher warrants caution while trading long with profits.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ENDP | RBB | Morning Star breakout |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The Bullish Swing Trading trend is currently being controlled by more sellers than buyers; this can be clearly seen on an hourly chart with lower highs and lower lows. Premarket, the buyers have taken a little control back (for now) from the $217.30 very important support level. The real test for the buyers is if they can close up above $218.60. For the near term, the two important support levels are $217.30 and $216.65.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
LC | RBB
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The Bullish Trading Trend continues with price closing over the T-Line™, even while we are below $218.76. Of course, a breakout is needed to keep the bull alive. If price were to close below $216.75, I would have a little concern about the Bullish Trading Trend. Both the 2-hour and the 4-hour charts still show the bull is in charge. Two concerning factors are the weakening market participation and volume. (Welcome to August)
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
SM | 2 bar PBO | J-Hook breakout | Bullish Engulf
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The bulls/buyers still control the market allowing bullish pullback that for now can be bought when signs of buying come back in. Important support areas for the short term are $217.45-ish and $216.75-ish. If these areas are tested, they could be good buying areas with the right positive candle pattern. Short-term target for the SPY is $219.55.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
FRAN | PBO| RBB | Scoop
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
After a pull back to the 20-sma last week, the bulls found support at $215.40 then shot past the $217.25 resistance line closing at $218.18, up $1.77.
Unless the bears step in hard, we are looking for the SPY to challenge $220.60. The 3-day chart on the SPY is presenting a T-Line™ Bullish Engulf PBO. The trend is always our friend, and pullbacks within a trend are good for the pocketbook. DIA, IWM, QQQ are also showing signs of bullishness.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
No featured trade idea today
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
It’s all about the jobs report and how it is perceived. Yesterday, the SPY closed over the T-Line™ with a long lower wick suggesting the bulls may have decided to stop and take advantage of the bullish pullback. Below $215.25, the bulls lost interest and above $217.25 the Bears are in trouble. To really get this market moving, the DIA’s will have to close above $184.85.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
ALJ | RBB| Bullish Engulf | PBO bullish J-Hook
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
On the daily chart the SPY formed a Bullish Harami above yesterday’s low unfortunately it did not close back above the T-Line™ as always candlestick signals must confirm but then again that’s true with price in general not just Candlesticks. If you look at yesterday’s Harami on an intraday chart (I am looking at a 1-hour and 2-hour chart) you can see a bear flag forming, this is why you need confirmation on the daily chart.
Be aware of QE from the Bank of England today and job numbers tomorrow, we should be prepared for anything in the market. Keep the watch lists for both long and short updated and handy.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
FEYE | PBO| Bullish Engulf
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
The SPY has moved below the T-Line™ along with DIA, IWM, IYT and SMH. This is signaling the sellers are wanting there piece of the pie. Over all, the market is still bullish as long as we hold above support. The
profit taking pullback in the SPY, IWM, DIA is either testing the 23.6 Fib retracement (a bullish PBO so far). Friday’s job numbers may give the market a nudge one way or the other.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
DVAX | RBB |Morning Star |
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
Bottom Line, this is a very boring market! DIA’s are a little closer to a possible support level; the SPY, IWM and the QQQ’s remain above the T-Line™. The QQQ’s produced a very concerning high wick yesterday.
Keep in mind, this is only the 30-min chart. I am seeing a slight crack in my 30-min chart on the SPY and IWM, the DIA’s cracked a few days ago. The QQQ’s, depending on how they close today, could also show signs of cracking.
The Bulls/Buyers still have the upper hand, and a minor pullback may offer a buying opportunity. We will be watching support for buying opportunities or weakness.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
LIFE | RBB |Buy box 3.15 – 3.60
Good Morning, Profit Traders,
The T-Line™ is a powerful timing indicator
**** Password change for the Trading Rooms*****
The SPY and QQQs remain in bullish territory with price leading the T-Line™, and the DIAs are still in bullish territory while fighting the T-Line™ in a mild pullback. If the SPY cracks $215.50, a support test at $213.40 will likely follow. We remain bullish and very cautious at the same time with oil falling and 20-year treasury bonds rising.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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