The market (SPY), The slow grind higher starting in December 2018 certainly has been a grind and at times seems like we are just crawling. But if you look at a weekly chart on the SPY, you can clearly see we have moved about 70 points, not bad for the SPY.
On the daily chart, you can see that the past 10-11 trading days has been that slow (crawl) grind I was talking about. Yesterday the SPY formed a little Shooting Star, double top, (sounds painful). Well, it could be with follow through to the point of cracking the trendline until then we simply have the slow grind higher. With the T-Line and T-Bands still moving up and price action above all the T-Bands, it implies the bulls (buyers) are still in control. While price action the last few days has been a bit slow I continue to see bullishness with reasonable profit-taking along the way.
The I path Series S&P 500 VXX Short Term Futures ETN. The VXX closed with a little Hammer near a double bottom, and the VXX is oversold. With a bit of Bullishness, the VXX might do a little relief rally.
Ya baby it’s Friday! Friday’s are more about profit-taking and getting ready for the weekend. There are no watch-list updates on Fridays. We wish you a fantastic weekend. 🌞Rick Saddler
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 Dick Carp: the scanner paid for the year with HES-thank you
🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.
🎯 Bob S: LTA is incredible…. I use it … would not trade without it
🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade: PYPL, TGT, and ZS. Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.
🎯 Friday 6/21/19 (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.
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