The market (SPY), Yesterday was a Doji / Harami day in the SPY closing below our bullish number of $297.95 and above our bearish number of $293.69. The 34-EMA still is above the 50-SMA, and price action is hovering around both. On the hourly chart, price is in bed with the duces (200-SMA and the Dotted Deuces), the 34-EMA and 50-SMA has kept price pushed down. Price simply needs to be above $297.95
T-Line and T-Line Channels, Price action on the daily chart has fallen below the T-Line and the T-Line Channels. If the Price action gets below the $293.70 line, we should see the T-Line Channels start to lean a little to the downside. The weekly chart has price action between the two upper channels on a bullish pullback; I say bullish because the withdrawal is above the 38% retracement of the August low and September high run and above the 293.70 support line.
The bottom line, Below $297.50 and above $293.70 is just a tug a war between the buyers and sellers, think of it as one significant indecision Doji. The winner will show it’s colors soon. This flat trading can be challenging to navigate; I personally think the key is not to over trade.
For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. HOME, DOCU, WHR, PHM, SSNC, JBL, CLDR, SNX, HIIQ Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 Dick Carp: the scanner paid for the year with HES-thank you
🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.
🎯 Bob S: LTA is incredible…. I use it … would not trade without it
🎯 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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