Today’s Swing Trade Ideas

WLL/Long (Energy Sector)  Rounded Bottom Breakout, Left/Right Combo, higher lows can be drawn, bullish candlesticks above recent gap, 30% possible profit target.  All this points to a very tradable chart.  To learn more about WLL, join me in the live trading room today at 9:10 AM Eastern.

Possible entry plan idea:  The buy box is from $36.24 to $42.76
Possible stop plan idea:  A close below $36.24

Good Morning, 

SPY:  No rate hike by the Feds and the market soars with dovishness!
You and I both know this is not going to last forever; that’s why as a technical swing trader, we follow the charts, and we follow our indicators such as candlestick signals to give us the visual clues of a trend, both bullish and bearish, to see when a trend might be getting tired or reversing or when a trend might be reversing bullishly.

Yesterday’s move in the SPY completed a three-day candle pattern we call a “bullish continuation pattern” or a “Doji sandwich.”  Now that the dove has been thrown in the air and allowed to fly for at least another few weeks, the current chart pattern is suggesting that $217.75 would be a good target if, in fact, we see a breakout over $212.30.

SPY     $208.70 (Bullish, closed over & held yesterday)
IWM     stay above $121.95  (Bullish, closed over & held yesterday)
DIA     $180.12 (Bullish, closed over & held yesterday)
QQQ     $106.31 (Bullish, closed over & held yesterday)

IWM:  IWM consistently led the way for the last five days as if it knew there was not going to be a rate hike and the dove was going to be let out of its cage.  IWM has also formed a bullish continuation pattern, a type of Doji sandwich suggesting that IWM is worth more.  Perhaps $127.10 would be the first number for the dove to fly.

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. Remember to check for earnings!

Symbols from TC2000
AXAS
CAS
ECOM
EWG
HZNP
PACD
SOL
TCK
UGAZ
VLCCF
WLL
X

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 below the T-Line ™ implies the bearish short-term swing traders are in control.

Energy Sector: XLE, SX90, ERX, USO  A below the T-Line ™  implies the bearish short-term swing traders are in control.

TBT: A close below the  T-Line ™ implies the bearish short-term swing traders are in control. This should change today, watch for a close over the T-Line.

US Dollar Index: UUP, DXYO A close below the  T-Line ™  implies the bearish 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.