Inverted Head and Shoulder On DRIP

I see an Inverted Head and Shoulder has formed on the S&P Oil and Gas Exploration (ETF) DRIP. Yesterday buyers push price action above the Inverted H&S resistant line. Price and the T-Line have crossed above the 34-EMA and 50-SMA. DRIP has also become an (RBB) Rounded Bottom Breakout pattern. If bought we will look for about $7.30 and $8.25 as possible profit zones. For more details on the DRIP trade, please click the following link. Get the complete details including Fibonacci details TV2020 trade plan right here

Past performance is not indicative of future returns

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SPY • It’s Been Bumpy

Yesterday the SPY ran into more bumps causing a new low to close below the T-Line. The recent candle price action (Island Reversal), (Doji Bearish Engulf) shows the buyers have taken a break.

Today Tuesday, August 14, Premarket the futures are up a bit and HD beat on earnings, so the question is, have the buyers come back? First, the resistance of about $284.25 needs to be cleared by the buyers. If weakness continues, we are looking for the $279.40 area as support.

****VXX – The VXX chart is looking for a crack in the ceiling to slip through. The last three days the VXX has attempted a relief rally but stopped by major moving averages and price resistance.

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Past performance is not indicative of future returns

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020 or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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