Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
BPT/Long |RBB| Bullish Engulf | Breakout

SPY:  T-Line™ Chart: A close is needed over $203.35

Good Morning, Profit Traders,

The oversold relief rally continues according to the morning futures.  Yesterday, the two numbers we posted, $202.15 and $203.35, were spot on.  The morning futures fueling the relief rally puts a nice round number of $205.00 in the crosshairs for resistance followed by $206.00.
The transports remain in horrible shape with price of the weekly chart still under the 200- period moving average.

The US dollar index (DXYO) closed yesterday at $96.09, the 200-period moving average has held off the last three attempts to push through, and $95.50 is acting as support.

Overall, the market has been damaged and will take quality construction to put the market back in contention with the highs.  It’s important to understand how bottoms are formed, how support needs to be tested and resistance needs to be broken down.  There’s a big difference between a reversal and a relief rally.  At this time, I only see a relief rally being attempted.

All the best to your trading success!
Rick | Hit and Run Candlestick Team
Trading knowledge ignites successful stock trading.

IWM:  T-Line™ 2-hour chart |T-Line™ trend Bearish
SMH:  T-Line™ 2-hour chart |T-Line™ trend Bearish
IYT:  T-Line™ 2-hour chart |T-Line™ trend Bearish
XME: T-Line™ 2-hour chart | T-Line™ trend Bearish
USO:  T-Line™ 2-hour chart |T-Line™ trend Bearish
UUP:  T-Line™ 2-hour chart |T-Line™ trend Bullish
VIX: T-Line™4-hour chart |T-Line™ trend Bullish
Each day a trade idea list is posted in the members area that I believe are poised to move 10-20% (or more) within the next few days.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!

Members Only

Keep your eye on the inverse ETF’s They trade well!
Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.  A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
Energy Sector: XLE, SX90, ERX, USO  A close above the T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 
SMH: A close above the  T-Line ™ implies the above short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

IYT: A close above the  T-Line ™ implies the above short-term bullish swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control. 

US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control. A close below the T-Line ™ implies the bearish short-term swing traders are in control.  Learn more about the T-Line – Click Here

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.