Stay Off The Thin Ice

Trading this market right now reminds me something my grandfather used to tell me…”Stay Off The Thin Ice”. The SPY closed on the 50-day SMA with the T-Line above itself the past 20+ days, it is very important for the bulls to maintain support above the 50day SMA. If not the next landing could be hard. The DIA’s closed yesterday with a Doji on a little support. The DIA’s are in bad shape below the 50-day SMA, the weight of the bear could be too much at this point, and a retest of the February lows may be required. If the bulls can pop the DIA’s over the 50-day SMA, it would allow the room to challenge the January highs. The market is between a rock and a hard spot, trade very carefully. Capital preservation should be at the top of your list right now.

We will discuss the trade in detail with a trading plan in our Members Morning Prep starting at 9:10 EST this morning. members morning briefing

Recently closed

VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% 

Event Calendar

Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning

The VXX short-term futures

The VXX showed no real fear yesterday and closed below the T-Line if the VXX gets above $48.40 we are likely to see a bloodbath. Stay off the thin ice.

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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

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