Today’s Swing Trade Ideas

ADHD/Long (Biotechnology)  ADHD has formed a bottom with the successful Rounded Bottom Breakout (RBB).  While yesterday’s gap down could have been disastrous, the buyers managed to pull a bullish Belthold candlestick signal out of their hat, which suggests the buyers are very interested in this stock.

Possible entry plan idea:  Above the 50-day simple moving average with a closing bullish candlestick.
Possible stop plan idea:  A close below the 50-day simple moving average
**More on how to trade ADHD  in the Live Trading Room  9:10 AM Eastern Trading Room.

Good Morning, 

SPY:  After yesterday’s decisive (on heavy volume) price action, the bulls will be scrambling to contain the recent losses in theSPY as well as the entire market.  To reverse any strong directional move, it’s important to be patient and wait for the proper candlestick signals.  If you think of a candlestick or a pattern of candlesticks as a vote, then the past six trading days have been a unanimous bearish vote.  And until we see a bullish candlestick or a bullish candlestick pattern (bullish votes), the current trend will continue.  The point is to be patient and allow a bullish candlestick pattern to form rather than trying to pick the bottom.

IWM:  IWM’s price is still trapped between the 20-simple moving average and the 50-simple moving average as the voters decide the fate of the pattern.  Do we find the 50-day simple moving average as support and print a bullish reversal signal or continue on the sellers’ trend?  We will patiently watch the charts for a candlestick clue as to whether or not the 50-simple moving average becomes support or nothing more than a pause in the sellers’ trend.  A close over $120.70 would suggest that the buyers are trying to fight back.

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. Remember to check for earnings!

Symbols from TC2000
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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 below below the  T-Line ™  implies the bearish short-term swing traders are in control.

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control. This should change today, watch for a close over the T-Line.

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.