Rick’s Featured Trade Ideas

Today’s featured trade idea and my personal trade plan
BPT/Long | RBB| C&H | 4-hr chart morning star

SPY:  T-Line™ Chart: teetering between Bullish and Bearish

Good Morning, Profit Traders,

With a very flat narrow range in the overall market yesterday, it’s extremely clear that everyone is waiting for Thursday’s Brexit vote, and, yes, it’s my opinion we should do the same.  Trying to fight and trade a directionally challenged market is just unproductive.

For the last four months, the SPY has traveled sideways in a channel from about $203.85 up to about $212.52.  We have a lateral support line drawn at $207.12 which the Bulls currently have the pleasure of owning.  As long as the Bulls can maintain ownership above $207.12, they should stay the favorite. Weakness below $207.12, and the sellers will become the favorite.

Be careful out there.  The game for the next couple of days will simply be bumper cars.  Remember the ticker symbol I shared with you last week that could be the most important ticker symbol of all time?

C…ash
I…is
A…a
P…osition

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 |Sellers control | Morning Star signal working
SMH:  T-Line™ 2-hour chart |Buyers control
IYT:  T-Line™ 2-hour chart |Sellers control
XME: T-Line™ 2-hour chart | Buyers control
USO:  T-Line™ 2-hour chart |Neutral | Buyers favored
UUP:  T-Line™ 2-hour chart | Sellers control
VIX: T-Line™ 2-hour chart | Neutral
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!

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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.