Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
LCI/Long | RBB| Bullish J-Hook | Cup & Handle

SPY:  T-Line™ Chart: Needs confirmation

Good Morning, Profit Traders,

Yesterday the market went from an oversold low to a high with an impressive price action candlestick.  The SPY in particular went from a low to a high with nearly a three point move in the candle pattern painting a bullish piercing  candle and a candle in the belt-hold family.  Here at Hit-And-Run Candlesticks and Right Way Options, we realize that price action/candlesticks require confirmation.

Despite the good price action yesterday, one would have thought that we could see a trend reversal in our intraday charts, but we did not.  This should cause the savvy trader to have some concern or at least patience until we see the intraday charts with a bullish trend.

There are two major numbers that the Bulls need to capture:  $209.36 and $210.15.  This may not happen unless the intraday charts see a meaningful constructed bottom.  Many times yesterday I pointed to a 30-minute chart and the fact that the T-Line™ was still below the 34 EMA.  It would be a win for the Bulls if they could produce enough energy to drag the T-Line™ back above the 34-EMA; unless this happens, the bears stay in charge.

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

IWM:  T-Line™ Daily chart |Below T-Line
SMH:  T-Line™ Daily chart |Below T-Line
IYT:  T-Line™ Daily chart |breakdown | Sellers control
XME: T-Line™ Daily chart | Sideways
USO:  T-Line™ Daily chart |Below T-Line | OUCH
UUP:  T-Line™ Daily chart | Trying to construct a bottom
VIX: T-Line™ Daily chart | Buyers control
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.