The June Payroll numbers are out today, might or might not impact the market, the charts tell the story. We closed DIS to fill the need to put a little folding money in our pockets ahead of the 4th weekend, but we are seriously looking at buying it back next week. PFE still in our bullish T-Line Bands currently up 13%. Wednesday before the close we bought SNAP, a beautiful T-Line Band breakout followed by a flag Pootb chart pattern. X is surely testing my patients; perhaps it is building an Inverted Head and Shoulders, time will tell. A few stocks we are actively trading and happy to share them with you. Note not all trades are for everyone.
Likely a slow day while most of Wall Street is still on the 4th of July Holiday. I myself will only be here in the morning and the first couple of cups of coffee. Thinking about going fishing today. The SPY busted out Wednesday almost claiming the $300.00 mark, beautiful support bounce off the upper T-Line Band that is drawing a J-Hook Continuation pattern. Price action today will likely be pulled into Monday and Mondays price action will be important. The VXX chart seems perfectly happy sliding downhill, of course until it’s not.
Have a great trading day - Rick
Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.
For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. SNAP, EVRI, CPB, SWCH, TRP, UAA, WM, WP, → (QEP) Quality Entry Patterns)
Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.
✅ A Traders Edge In All Markets
The LTA Scanner can filter out charts that are trending, up or down and alert on charts that have Candlestick signals and patterns, western patterns and when indicators, such as MACD, Stochastics, RSI or Bollinger Bands have crossed or reaches the desired level. 😎 One of my favorites is the T-Line Band Scan. The right tools for the job.
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