Rick’s Featured Trade Ideas
No Featured trade idea today
SPY: T-Line™ 2-hr Chart sellers in control at the close yesterday
Good Morning, Profit Traders,
Alaska Trading Cruise….Check it out
Yesterday’s low in the SPY, $206.92, came within eight cents of our $207.00 number that we have talked about. Yesterday’s gap down Doji close found support on our $207.00 support line with a Doji close back above the 50-day simple moving average. Other than the T-Line™ crossing below the 14-SMA, the T-Line™ trend chart is still in favor of the Bulls while the recent price action has been in favor of the bears. With the recent bear pullback on the daily chart, the weekly chart has been painting a bearish Shooting Star pattern. In the Hit-and-Run Candlesticks trading room, we have been very conservative and warning of caution. Right now we are in dangerous waters with uncertain wind changes, and let’s not forget about the sharks. The wind and the surf should quiet after Janet and the Brexit vote. Keep in mind that most of today’s price action will most likely be positioning and guessing on what Janet has to say and the Brexit vote. The technical trader doesn’t guess; the technical trader follows the charts for direction and insight.
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
No Featured trade idea today
SPY: T-Line™ Chart: 2 and 4-hour chart breakdown | 15-min 200-FWsma has now broken below the other 2 deuces.
Good Morning, Profit Traders,
In yesterday’s morning note, I mentioned the numbers of $210.27, $209.15, $208.50 and $207.00, and that the bears have clobbered the first three lines and now they’re going after the $207.00 line. If the bears can manage to close price below $207.00, that would be below our T-Line™ grouping and will put a tremendous amount of pressure on the bulls. $205.00 is the next line for the bears to take over after $207.00.
On the bullish side, if the Bulls can circle the wagons and defend $207.00 with a follow-up bullish run, the overall bullish trend would remain intact. Once again, the $207.00 is in the spotlight.
In the trading room yesterday, I talked a lot about caution and about a brand-new ticker symbol, CIAP. You won’t find this ticker symbol on any chart; it’s a special ticker symbol that we use at Hit-And-Run Candlesticks to help members realize you don’t have to trade every day.
C-ash
I-s
A
P-osition
Because the market is so close to possibly jumping out of the window and so close to finding support and becoming a bullish monster, it is my feeling that we should wait patiently for a clue to the next leg. Therefore, there will be no featured trade idea or stock picks today; however, in the trading room, we will probably find something live that we can trade.
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
CNX/Short| “M” pattern | 5-day Evening Star
SPY: T-Line™ Chart: 2 and 4-hour chart breakdown
Good Morning, Profit Traders,
Prayers to Orlando victims and families. Our thoughts are with you; you are not alone.
In last Friday morning’s trading note, I wrote that unless the buyers participate, we would see $210.25. Premarket numbers, the SPY is at $210.27 as I write today’s trading note. I also noted in Friday’s trading note that without buyer participation, $209.15 and $208.50 were likely lines to be tested.
It’s worth noting that on the five- and six-day chart, the SPY has produced a Shooting Star candle which means the battle between the Bulls and the Bears this week could be a very important turning point. Friday’s gap down below the T-Line on the daily chart and a close below the open suggest the sellers are leading the short-term battle. Friday’s win for the sellers has put a new number on a possible target of $207.00. If the sellers can take us down to $207.00, the daily chart will begin to look like a Bearish “M” pattern.
Traders’ words of wisdom – For the next few days, lower position sizes, cut the number of trades in half, tighten up on your risk level. Before you pull the trigger, take a five-minute walk, paint your house rather than trade. Here is a ticker symbol that I will be following very closely this week, CIAP; the company name is Cash Is a Position.
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
OSUR/LONG | C&H | Flag | Bullish Flag
“The Alaskan Trading Cruise” – Only a $100 deposit June 6 and June 12, 2016
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SPY: T-Line™ Chart: Buyers Trend | Candle price action, weak | Toppy Overbought
Good Morning, Profit Traders,
I see the morning futures have dropped 12 points or down to $210.77 as a write this note. You may have noticed in yesterday’s note I offered a Traders Tip: “In my 27 years of studying Candlesticks, one of the Trader Tips that I would like to share is that a candlestick signal or candlestick pattern is not required to produce results immediately.” This is something I learned to recognize years ago, and it has also taught me patience because of the importance of allowing the pattern to be decisive. This is one of the key points I bring up in the trading room and during private coaching.
Unless the buyers participate, I would suspect a bit more downside. A few possible targets that I’m looking at are $210.25 then possibly $209.15 and $208.50.
This could be one of the most important times of trading to have a plan for each and every trade. The reality is most traders continue to focus and buy long trades while the market is showing weakness. By having a plan, you’re able to look at the numbers and truly evaluate whether the trade is right at this time.
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
DATA/LONG |RBB| C&H| Morning star | Bullish Flag
“The Alaskan Trading Cruise” – Only a $100 deposit June 6 and June 12, 2016
Plus bonuses from H&R and RWO.. Please be our guest for dinner July 8 for meet up and get to know each other.
SPY: T-Line™ Chart: Buyers Trend | Candle price action Toppy Overbought
Traders Tip – Candlestick signals are not required to produce the very next day
I really would’ve thought that Tuesday’s Shooting Star in the SPY would have caused a lower low on Wednesday, but not only did we not see a lower low, the SPY was able to find a higher high and close up .33%. If you trade the T-Line™ or are just simply familiar with it, then you have probably noticed in the past that price tends to not get too far from the T-Line™, and when it does, they both look to find each other. In my 27 years of studying Candlesticks, one of the Trader Tips that I would like to share is that a candlestick signal or candlestick pattern is not required to produce results immediately.
I see the morning futures are down, so we should probably take a look where we might find support. The first area of possible support I see is $210.90 followed by $210.12. The third possible support line if we fail the first two would be around $208.50. Overall, the SPY chart continues to be bullish and a minor profit taking pull back would be perfectly normal. Below the $208.50 support line would give me concern.
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
SGYP/LONG |RBB| Bullish “W” pattern | Morning star | Continuation pattern
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SPY: High resistance $212.34 | High support near $208.85ish
T-Line™ Chart: Buyers Trend | Candle price action Weak, Toppy
Yesterday, June 6, was another great day in the market for Hit-And-Run Candlestick members. There were many of us who closed positions protecting profits. Yesterday the SPY closed with a Shooting Star candle. The Shooting Star candle is a clue that the market may be starting to tire and in need of a rest.
Taking a look at the sector indexes, I see basic materials, financial services and healthcare showing signs of stress, nothing serious as of yet.
Sector leaders yesterday were energy, communication services and real estate.
The volatility index VIX close yesterday with a belthold candle signal that closed engulfing, along with a double bottom. These are the little clues that we as traders need to pay attention to.
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
IPI/LONG |RBB| Buyers support line
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SPY: High resistance $213.78 | High support near $208.85ish
T-Line™ Chart: Trending bullish | Candle price action Bullish
No rate hike, the market loves it! Yesterday the SPY closed over the April 20 high and looks as if it has the juice to take on the May 2015 highs. Of course, we will continue to watch the candlesticks and price action for signs of change. Until then, trade with the trend and the trend is bullish. The top three leading sectors yesterday were utilities followed by energy and basic materials.
This is the kind of market where everyone should be making money, and it’ll help make up for a few of those trades that no one wants to talk about. Have you ever noticed how much easier it is to make money when you trade with the trend? Let’s not get complacent or lazy, so continue to plan your trades and trade your plan, follow the chart patterns and price action.
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
OCN/LONG |RBB| Bullish Engulf| Inverted H&S | 3day chart doji continuation
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SPY: High resistance $210.93 | High support near $208.50ish
T-Line™ Chart: Trending bullish | Candle price action Doji
The SPY chart continues to suggest bullishness based on the short-term T-Line™ trend and the candlestick price action. Friday’s Doji remained above the T-Line™, and the T-Line™ is bullish when you compare it to its partner moving averages. It will be important for price to respect certain levels, such as $208.50 as support. If $208.50 falls prey to the bears, then the $207.00 area will become a line that the Bulls must defend.
Here at Hit-and-Run Candlesticks, we do not promote picking bottoms or tops, but we do promote following price action with candlesticks and waiting for a bullish or bearish signal to be made. Then we trade up based on that signal for a swing, whether its bullish or bearish. The point here is patience, and let’s make sure that the Bulls can break out.
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
GMLP/LONG |T-Line™ chart trending | Bullish Engulf|
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SPY: High resistance $211.66 | High support near $208.50ish
T-Line™ Chart: Trending bullish | Candle price action week
By the time you read this, the employment report will have already come out which may or may not impact the market. Although the market seems to have already approved of the report or it has an agenda of its own, we will soon find out. The SPY has risen 3.29% from the May 19 low to yesterday’s June 6 high on a beautifully orchestrated chart pattern, a bull kicker candlestick pattern gapping over our T-Line™ chart moving averages, a profit taking pull back that ended the day with a bullish piercing candle followed by yesterday’s strong bullish candle that closed one penny above the April 20 high. Yesterday in the trading room, it was noted by our members that this has been a very profitable 10 days.
TRADING TIP – Trade with the trend!
We will continue to follow the current bullish trend and price action realizing that minor pullbacks are opportunities.
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
SDLP/LONG |RBB | Bullish Engulf| Support
Read more about “The Alaskan Trading Cruise” – Deposit special between June 6 and June 12, 2016
SPY: High resistance $210.92 | High support near $208.50
T-Line™ Chart: Trending bullish | Candle price action week
After a rough open, the Bulls were able to put together a positive close that resulted in a bullish piercing candle closing .20%. It looks as if this will be another attempt to push through the April 20 high of $210.92. Our T-Line™ chart continues to rise suggesting that the Bulls are in control. Going forward, it will be important for the Bulls to close price above $210.92 for bullish confirmation. About $208.50 is what I see as support for any kind of pullback, which is just slightly below the 23.6 Fibonacci line.
All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.
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