Support And The 50-Day Simple Moving Average

The SPY was protected by the support and the 50-Day simple moving average when price slipped through, and the Bulls caught it before a full out runaway. Never the less we still have lower highs and lower lows for about the past 2 weeks. I see support in the $240.40 area followed by the $237.60 area. Resistance is the $242.75 area.

Closed Positions

IMFN ½ for a +18.71%

UVXY ½ for a +24.06%

Free Trade Idea – No Free Trade Idea Today

For members, we do have 13 trade ideas that we will cover from our members master list between 9:10 Est. to market open.

From our Members Watch-list

SCSS is up 17.88% from our members only post on June 2; The Bulls moved it 11.32% yesterday.

Hit and Run Candlesticks Trade Ideas -vs.- SPY Last 7 Bars

• HTZ +31.26%
• CARA + 30.82%
• VRX +26.54%
• SPWR + 23.57%

What is a Trade Idea Watch-list?

A trade idea watchlist 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 watchlist, we wait until price action meets our conditions for a trade.

Investing and Trading involve significant financial risk and are 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.