Today’s Swing Trade Ideas

UVXY/Long (Ultra VIX short) UVXY is a play on market fear.  Yesterday’s Bullish Engulf closing over the 200-period moving average comes after a continuation pattern, a PBO Bullish Engulf, and a little rounded bottom, not to mention the bullish “W” pattern and the little cup and handle.  Let’s not forget The Rounded Bottom Breakout (RBB) pattern.

My entry plan idea:  (I already own it) but will be looking to add more on positive trading above yesterday’s open.  More than likely, I will be closing this out today.
My stop plan idea:   Below $31.35

The best trading group to hang out with!  Why?  MUX and CLF were pointed out by members yesterday as nice set-ups.  Sold SA yesterday for a small percent. Profits are profits.  Took a few losses yesterday heading into the long weekend. Monday is a holiday, so there’s a high probability of a little more selling today because of traders wanting to be flat for three days off.

Good Morning, 

SPY:  Eleven days ago, I started talking about the bearish “M” pattern setting up in the SPY.  Since then, the SPY has lost 3.6% andhas now formed a bearish “h” pattern.  The 200-period moving average would be a logical target below the $200 mark.  On the weekly chart, you can clearly see a bearish Doji sandwich or a bearish continuation pattern and the 50-period moving average appears to be the likely target.  Yesterday’s bearish engulf print continues to suggest that the sellers have control, and there is a probability that price moves lower.

IWM:    Although IWM found support on the 200-period moving average, the bearish “h” pattern and yesterday’s bearish engulf candle is not encouraging and suggests there’s just not enough buyers to keep us from trickling lower.  The December 16 low is the likely target, and without buyers, we could see a lower print.  A few charts I follow that helps with figuring out the health of the market are IYT, SMH, COPX, FAS.  Charts talk.  We are only human and sometimes have trouble listening.  Are one of these for charts whispering to us?

This Week’s Economic Calendar—> Click Here

Members Trade Ideas –  Members Only

In the members area you will find 10-15 trade ideas every day

Each day 10 -15 stocks are posted in the members area that I believe are poised to move 10-20% (maybe more) within the next few days based on the charts. As you know some work and some don’t…Welcome to trading. Please follow your trading rules for entry stops and profits.

Symbols from TC2000

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

VXX S&P 500 VIX Short Term Futures:  A close above the T-Line ™ implies the bullish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX, USO  A close below the  T-Line ™  implies the bearish short-term swing traders are in control. Possible short term bottom building (Hammer)

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control.  US Dollar Index: UUP, DXYO A close above the  T-Line ™  implies the bullish short-term swing traders are in control.

The information in this email and Blog Post are notes to myself and should NOT be construed as financial or trading advice.

Investing and Trading involves significant financial risk. No communication should be construed as financial or trading advice. All information provided is for Educational Purposes Only.

Investing and Trading involves significant financial risk and is not suitable for everyone. No communication or chat sessions should be considered as financial or trading advice. All information is intended for Educational Purposes Only.

http://hitandruncandlesticks.com Trading for Profit is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not tell or suggest which securities or currencies customers or subscriber should buy or sell. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here.