SPY Has Given Back Gains That Took 17 Days to Build
(SPY) – In one day this week, the SPY has given back gains that took 17 days to build. Closing back below the 34-ema and dropping out of the Lower T-Line Band will require the Bulls to work a little harder to rebuild. The 2 and 3-day charts show a Bearish Engulf with strong volume which suggests the Bears gathered their troops.
Above $238.07 would put price in the top half of this week’s drop and back above the T-Line.
FREE TRADE IDEA
– It’s Friday, no trade idea today but I do have a few trade I will share with our subscribers in our morning pre-market meeting.
Pop Out of The Box Plus Trading with Volatility Stops
The Workshop last night was a huge success, Doug Campbell Our Options partner taught how to use the Pop Out of The Box Pattern and using Volatility Stops to trade. Doug also presented everyone with six bonus files plus the recording to help with your trading education. Plus a 30-day Workshop Follow-Up Workshop.
Participants of the workshop received:
- A complete recording
- Adding Volatility Stop on TC2000
- Core ETF List
- ETF Core Inverse List
- Pop Out of The Box Pattern Workshop 5-18-17
- TC2000 Workshop Scans
- Volatility Stop Indicator for TOS
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What is a Trade Idea Watch List?
A trade idea watch list is a list of stocks that we feel will move in our desired direction over a swing trader's time frame. That time could be one to 15 days for example. From that watch-list, we wait until price action meets our conditions for a trade.
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Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advise to anyone except for the trading desk of Hit and Run Candlesticks Inc.
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