Price Above T-Line For The Twelfth Day

(SPY) Yesterday the SPY closed plus .19% with a Doji. And the Bulls have kept the price above the T-Line for the twelveth day. We currently have a 3 bar pullback; this could be a setup for a J-Hook continuation pattern. Two of the four pieces are in place. Hit and Run Candlesticks will stay on top of the market pattern.

Free Trade Idea – KEM

KEM (Kemet Corp) Continues to trend with several bullish chart patterns working. With Bullish follow through we will be looking for a couple of swings from 10% to 30%. We will share more about the KEM chart pattern in Trading Room #2 today.

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Conditions For The KEM Trade

• Doji Continuation pattern
• Cup & Handle
• Bullish J-Hook
• Rising
• Bullish Engulf (3-day chart)
• Doji Continuation
• Over 30% possible

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What is a Trade Idea Watchlist?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watchlist, we wait until price action meets our conditions for a trade.

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Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.