Still Closing Below, The T-Line

The market (SPY) came back a little yesterday still closing below the T-Line and ALL moving averages that concerning for swing traders. Right now, I do not believe the SPY is showing signs of total collapse, but it has been damaged. The damage requires a constructed bottom that creates support for price action. Yesterdays low may act as support, but we need a few days to prove that. (Proof is better than prediction). A close below yesterdays low or the Dotted Deuce will likely cause a test of the 200-SMA.

►Featured Trade Ideas

ERI is a multi-month trend with the big three moving averages close and tight. Price is showing signs of strength even with the recent sell-off. Learn more about trading this trade and others in the live morning prep 9:10 AM ET, in Room #1

►Learn the Power Of Simple Trading Techniques

On January 9, Rick shared ARRY as a trade for members to consider and how to use the trading tools listed below. Currently, the profits could have been about 29% or $369.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits.

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… Learn More

►The VXX short-term futures

The VXX is all over the place, closed above the 200-SMA and down yesterday. A tradeable chart pattern needs to be formed before we trade it again.

►Rick’s Swing Trade ideas

Member Login – Full Trade List

30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual

Learn more about coaching with Rick Private Coaching. 

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.

*************************************************************************************