Price and The T-Line Close Below The 20-SMA

(SPY) – Proceed with caution with price and the T-Line close below the 20-SMA. Price and the T-Line below the 20-SMA is a warning sign. It is true the Bulls brought price from $236.77 to close Friday at $238.31 an increase of $1.54, but they also brought price to the resistance line where the Bears will try defend what’s there’s. With Friday’s closing price below the T-Line and the T-Line below the 20-SMA, the sellers have an edge unless the Buyers can push and close the price above $239 at the bare minimum.

FREE TRADE IDEA – NSU

NSU became a Rounded Bottom Breakout chart pattern Friday when it closed over the 50-SMA. Price gaped Friday from consolidation and a Bullish Harami. The 2-day chart has printed a Bullish Hammer and the weekly chart has a Bullish Engulf, Engulfing the Hammer.

The Pop Out of The Box Workshop has three remaining packages left at the 15% discount. Tomorrow we will be putting them back on the shelf with the $247.00 price.

Did You Know

SSYS was a members trade idea on April 12, 2017? SSYS rallied 45% before the pullback.

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your education. Start small and learn

What is a Trade Idea Watch List?

A trade idea watch list 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 watch-list, we wait until price action meets our conditions for a trade.

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is not 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 advise to anyone except for the trading desk of Hit and Run Candlesticks Inc.