Yesterday July 23 the SPY moved higher but not enough to make a respectable close over our 300.05 resistance line. It still stands that the SPY must show bullish power over $300.05 to remain in the bullish game. The 3-bar candle chart shows a nice higher low off the 34-ema and the 50-SMA moving averages. Follow-through above the 300.05 line would create a bullish “w” pattern. You can see how important follow-through is. Weakness below $298.05 would suggest the price is still looking for support and help, the 50-SMA work for the last to such pullbacks. While still on the 3-bar chart, the VXX showed three lower lows while close to a brand new low. The IYT transports closed with a good candle pattern (Doji Continuation) but pegged against the upper wedge line. SMH remains bullish near a consolidation area. Conclusion: with minor pullbacks and profit-taking from bullish runs, the SPY remains bullish. As always trade with caution and be looking for profits.
What We're Trading
✅ Yesterday we had a few new buys and closes. Bought long calls on AMD, and WBA and closed the SPY Puts. AMD closed about even while 💲BABA closed positive 21.2%. CPB closed positive 3.6% and premarket looks as is a bull gap is in order. CSCO down 5% while 💲INTC is up 26%. WBA is even money and OXY -1.5%. 👉For more detail and the full list join us in the HRC trading room #1 Click Here and choose Trading Room #1 Password 8020
😊 Have a great trading day - Rick
✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for the QEP → (QEP) Quality Entry Patterns). GE, FCX, SNAP, RF, OSTK, MRVL,UAA, CAG, ALLY, MOMO, WBA, LULU ✅ Check Earnings!
🎯Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade: PYPL, TGT, and ZS. Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.
🎯 Friday 6/21/19 (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.
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.
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