Today’s Swing Trade Ideas

SQQQ/ Long (Ultra Pro short)  SQQQ formed a bullish piercing candle on January 9 from a profit taking pull back followed by bullish confirmation closing over the big three with about 8% to the first minor target and possibly more on market weakness.

My entry plan idea:  (Bought yesterday at $31.30) Buy or add to on positive trading above the big three.
My stop plan idea:   A close below 30.25

PHMD –   Many of us in the trading room had been in PHMD, and profits were taken yesterday anywhere from 14% to 50%.  It was a nice day in the H&R trading room.

Good Morning, 

SPY:  The SPY closed at $202.80, well below $203.51 where yesterday I noted sellers would have control.  Price did close within the pennantarea still leaving us with no real bullish or bearish direction. On January 9, the SPY painted a bearish dark cloud cover and a failed high, and the two days following were suggesting bearish follow-through.  The SPY has drawn a few bearish patterns, a bearish “M” pattern, a bearish “h” pattern and a bearish cup and handle pattern.  Can you find them?

IWM:    IWM closed inside its pennant lines with a bearish cup and handle and “h” pattern.  Weakness today could find the $115.65 area and even the December lows.  Above $118.84 gives the buyers the upper hand and the ability to reach higher to the $119.90 area;  below $117.31, the sellers would have the upper hand and the ability to find $114.60.  As always, the close is one of the most important times of the day and today will be no different.  How today’s candle closes could impact the next week or two in trading.

This Week’s Economic Calendar—> Click Here

Members Trade Ideas –  Members Only

In the members area you will find 10-15 trade ideas every day

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. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits.

Symbols from TC2000

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.

Energy Sector: XLE, SX90, ERX, USO  A close below the  T-Line ™  implies the bearish short-term swing traders are in control. Possible short term bottom building

TBT: 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. Topping and selling signal printed

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.