Rick’s Featured Trade Ideas

Friday – a great day to take PROFITS!
I will be covering 14 possible trades (long & short) for members in the trading room this morning starting at 9:10 Eastern.

SPY:  The bearish “M” pattern, a pattern to recognize.  Over the past few weeks here at Hit & Run Candlesticks we have talked about the bearish “M” pattern and has offered caution many times in the trading room. This pattern is BEARISH and not a pattern to fool with.
It is been posted several times that the November 16 low is more than likely to be tested and if you are trading long you would need to take special precautions.

The weakness continues in the SPY with yesterday failing the T-Line™ strengthening the bearish “M” pattern.  The current price action is still suggesting that we test the November 16 low or about $202.00. with a failure of the $202.00 area, $195.30 could be where we find price if the market is unhappy with the FED decissions.  The T-Line™ continues to act as a downward trend line for the short-term swing traders, the T-Line™ is also likely to push through the 34 EMA today, that would suggest more weakness for the Bulls.

IWM:  Yesterday’s close below the T-Line™ keeps  IWM on track to visit the $113.10 area, which is also about the 38.2% Fibonacci retracement line.  Continued weakness and selling could take us down to the $107.00 area, which is the 50% retracement.
SMH:  SMH continues to show weakness below the T-Line™.  A close below the 20 day simple moving average would likely get us to $54.18
IYT:  The transports continue to weigh on the market as the downtrend continues.
S&P VIX Short-Term Futures VXX:  VXX seems poised to test the 200-day simple moving average and the November high, and a breakout of the November high would create a bullish “W” pattern.
This Week’s Economic Calendar—> Click Here

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts.  Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Symbols from TC2000

Keep your eye on the inverse ETF’s They trade well!
To see all of today’s trade ideas Click Here
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.