The SPY wall of worry comes through again. I do think every trader is concerned about the resistance line that is drawn across 10/17/18 – 11/7/19 and 12/3/19 and rightly so. On the other hand, the same traders are seeing the bulls hold it together with a bullish trend starting in late December with a weekly chart showing Ten weeks of new higher lows, (crazy and amazing). Put those two scenarios together, and you have the perfect wall of worry. Remember that price is king and price builds trends. The VIX-X chart is showing no fear in the market and remains pushed down below our Red/Green line closing Friday at $13.57. A VIX-X close over $16.20 would certainly get the attention of the market. We will be starting Monday cautiously bullish, taking profits into strength or base hits.
Hit and Run Candlesticks News
The start of another week of trading and we are excited! The "Road to Wealth" account to over 400% in the past 14 months and are planes are to double 2018 profits. Possible trade ideas- OSTK, KMI, BMY, MRO, WDC, FDC, BBT, NVDA, JNJ, AAPL. Two spots available for the “March Road To Wealth Coaching.” Mentoring program. Read More…
Two new auto scans have been added to the LTA-Live Trading Alerts Scanner; the Bull -Fig Newton pattern and the Bear- Oreo Pattern. With over 100 built-in scans my favorite bullish scans are the Pop Out of The Box, The RBB, The 3x8 Trap, The Fig Newton. If you need set with the scanner set up or adding scans just let us know. Each day (Market hours) we provide Free Scanner coaching in our trading room #4. Warning the LTA- Live Trading Alert software is a game changer, alerts for candlesticks, candlesticks patterns, western patterns, price action, tends, bullish and bearish.
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