Although price closed above our Lower T-Line Channel Band, the price action is testing its ability to hold onto a bullish rating. In the past eight days, the SPY has printed a few candles that suggest the bulls need a restful pullback, but the bears don’t seem to have enough growl to push them over. This type of price action is hard on most trades because there is not a defined trend, (chop chop chop). Our 4-hour chart shows that price has crossed into bear territory and targets are in the $272.75 and $268.10 areas. For the Bulls to get the game back, they need to capture the $279.25 flag.
Hit and Run Candlesticks News
My #1 trading tool LTA-Live Trading Alert Scanner alerted us on (IWM) as it was just starting to breakdown below the T-Band channel, The IWM PUTS closed up yesterday 17.3 The February Road To Wealth Account statement has been posted to the website. Trade-Ideas for the next week or so: CSCO, BBY, WDAY, AXP, PM, ADP, CC, WYNN, ADSK, LGIH, XOM. Some of these are long and some are short.
I have hit for over $300 this morning using your LTA scanner, I think I have found my niche!Coach B.
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