Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
GLBL/Long |RBB| Doji Continuation | T-Line™ Run

SPY:  T-Line™ T-Line is in a Bearish position with the 34-ema

Good Morning, Profit Traders,

Yesterday, July 5, the SPY lost a buck and a half dropping to its 23.6% Fibonacci retracement of its recent relief rally.   Yesterday morning, it looked as if price would find support around $207.85, as it did.  Today, $206.40 is looking like the magic number, but of course there’s no guarantee this acts as support.  On any given day we can find both long and short trades in a (big picture bullish or bearish market).  If we take a step back and take an honest look at the SPY and the way it has been forming (head and shoulder pattern), as well as other subtle failures, it would be easy to make the conclusion that the sellers are outnumbering the buyers.  With the weakness in the futures this morning, I’ll be watching to see if the SPY drifts to about $206.40.  Just like yesterday, until we see a reversal buy signal or pattern, trade cautiously.  Currently the market is not screaming bearish nor is it screaming bullish.

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

IWM:  T-Line™ Daily chart |T-Line™ trend remains Bearish
SMH:  T-Line™ 2-Hour chart |T-Line™ trend turning bearish
IYT:  T-Line™ Daily chart |T-Line™ trend still Bearish
XME: T-Line™ Daily chart | T-Line™ trend Bullish
USO:  T-Line™ Daily chart |T-Line™ trend turning bearish
UUP:  T-Line™ Daily chart |T-Line™ trend Bullish
VIX: T-Line™4-hour chart |T-Line™ trend Bearish
VT: T-Line™ Daily chart |T-Line™ trend remains Bearish
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.