One of Today’s Featured Trade Ideas
FSL/Short (Technology sector) FSL has formed a bearish “h” pattern that has closed below the big three. Looking at a weekly chart, you can also see the bearish “M” pattern forming and a failed high. Today at 9:10 AM, I will be sharing in the live trading room how FSL can be traded for profit. Those that took advantage of yesterday’s featured trade idea, VMC, made a very successful trade.
FSL Trading Plan (Entry, Stop, Target) Click Here
From the “Members Featured Trade Ideas”
ICPT short down 5.99% Friday and down 5.36% overall
AOI up 822.84% yesterday and up 1238.13% overall
MX up 1.04% yesterday and 34.32% overall
2-Week Membership Trial – Click Here
We will teach you how to fish.
Good Morning,
SPY: The bearish “M” pattern that I spoke of in yesterday’s note along with the bearish “h” pattern confirmed nicely. The SPY closed at $205.42 landing on the 200 SMA. The morning futures are suggesting a higher open, and I think it’s more like a dead-cat bounce. For those that did not take advantage of the warning signs last week, some of your positions could be in a real hurt. It’s my personal opinion that one of the worst things one can do today is chase this bounce. This is a tough time right now, and it’s this type of market that will grind away until you no longer have money to trade or mentally you’re completely worn down. It appears there are a few things around the world that may be beginning to unravel, and the question is how unraveled will it get. Simply follow the charts and wait for the patterns that you understand or patterns that makes sense to you. I know of very few traders that are successful in picking bottoms without getting you-know-what on their fingers. Wait for the trend, trade the trend. If you are confused about what a trend is, we can help.
IWM: There’s a bear out there taking a bite out of our bullish IWM. The bears broke us down to close below the 50 day SMA landing on the 100 SMA at 124.28. I suspect there’s going to be a little more downside, let’s be patient and wait for the buysignal or the buy pattern. The short patterns are still looking very good.
SMH: SMH got slammed hard dropping to the 200 SMA closing at 54.31 yesterday. The weekly chart shows a very organized bearish engulf followed by a bearish flag followed by another bearish engulf with a gap down. The bulls will need quite a bit of good news and a big lunch to get SMH turned back around bullish. Watch 51.95 area.
IYT: The transports have been warning us for some time, we have talked about it day after day in the H&R trading room. Those that follow, respect and trade their short-term swing trades within a little longer trend pattern and not constantly trade the hard right edge understands what IYT has been telling us.
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. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits. Remember to check for earnings!
Members 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.
| Members only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 6.30.15 | Short | Short on weakness | ||
| 6.29.15 | Short | Short on weakness | ||
| 6.25.15 | Long | Caution | ||
| 6.24.15 | Long | Wait for PBO | ||
| 6.23.15 | Long | Wait for PBO | ||
| 6.22.15 | Long | Wait for PBO | ||
| 6.17.15 | Long | BOPT above T-line | ||
| 6.16.15 | Long | Watch for PBO | ||
| 6.12.15 | Long | BOPT above T-line | ||
| 6.11.15 | Long | Wait for PBO | ||
| 6.10.15 | Long | Close or manage | ||
| 6.9.15 | Long | A gift! | ||
| 6.3.15 | Long | Watch for PBO | ||
| 5.30.15 | Long | Wait for PBO | ||
| 5.29.15 | Long | BOPT | ||
| 5.21.15 | Long | BOPT above T-line | ||
| 5.20.15 | Long | Wait for PBO | ||
| 5.19.15 | Long | Caution | ||
| 5.6.15 | Long | Caution | ||
| 4.28.15 | Long | BOPT above T-line | ||
| 4.13.15 | Long | Profit taking here | ||
| 6.3.15 | Long | Hit Target! | ||
| 7-8-14 | Long | Looking short |
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.
SMH: A close below the T-Line ™ implies the bearish short-term swing traders are in control.
IYT: A close below the T-Line ™ implies the above short-term bearish 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.
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.
Comments are closed.