The price action of the SPY closed below the T-Line, and the T-Line closed below the 34-EMA. Theinformation I just mentioned has been information I have used for years, and ithas served me well. Not only in the indices but trading charts as well. Thequestion now is how can you use that information.
Yesterday the SPY respected
the current bottom and Mondays Hammer candle; The morning futures are up at the
moment; maybe there is hope for the bull. BUT the trend in the SPY is still down,
for the buyers to get started they would have to close over the Morning Star
pattern, above $269.45
(CPB)Hammer/Morning Star Candles
Weare adding CPB to Live Scanner watchlist to be alerted when price action makes a 2-bar high. The 2-bar high will be the alert telling us when there is price action positive follow through. Positive price action may lead to a test of the200-SMA followed by the $40.65 test. Then we will have a weekly RBB set up. CPBwouldbe a 2-3-month option play. The market is a mess right now and may not bethe best market to trade for most traders, stay cautious.
LTA – Real-Time Stock Scanner
Rick uses three main trading tools and has dialed them in for max performance. Rick also freely shares his insights on what makes the tools the best and how to use them. Rick is also one of the only traders in the industry that shares his trading account.Traspaerancey and Trading Results.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
So the question todayis: Are we starting another relief rally? The answer is yes it would appear so.Yesterday the sellers pushed hard to, but the buyers pushed back a littleharder to draw a Hammer. The futures are feeling bullish this morning, and itlooks like the SPY will open higher. This week will be no time for the buyersto give up, the following key levels are what the buyers need to own: $269.95,$275.60, $281.05. Price reaching anyone of these numbers will be a relief rallywithin a downtrend, the sellers will be out like trick or treaters on Hollowee nnight looking for candy.
(FB)Bullish Piercing Candle
We bought FB yesterday as did a few subscribers in the trading room. We feel FB is bullish over $143.30. Facebook has drawn a Bullish (PBO) Pricing candle and proved to follow through yesterday. Price disclosed over the daily downtrend line and challenged the 60-min 200-SMA. Cautions we approach the 50-SMA. Trade-Ideas For The Watchlist: TC2000, TNDM, EXEL, FB, DATA, TWLO, CME, AMBA, SYMC, MRK, NWL, UAA
Real-Time Stock Scanner
Rick uses three main trading tools and has dialed them in for max performance. Rick also freely shares his insights on what makes the tools the best and how to use them. Rick is also one of the only traders in the industry that shares his trading account.Traspaerancey and Trading Results.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
So the question todayis: Are we starting another relief rally? The answer is yes it would appear so.Yesterday the sellers pushed hard to, but the buyers pushed back a littleharder to draw a Hammer. The futures are feeling bullish this morning, and itlooks like the SPY will open higher. This week will be no time for the buyersto give up, the following key levels are what the buyers need to own: $269.95,$275.60, $281.05. Price reaching anyone of these numbers will be a relief rallywithin a downtrend, the sellers will be out like trick or treaters on Hollowee nnight looking for candy.
(FB)Bullish Piercing Candle
Webought FB yesterday as did a few subscribers in the trading room. We feel FB isbullish over $143.30. Facebook has drawn a Bullish (PBO) Pricing candle and proved to follow through yesterday. Price didclose over the daily downtrend line and challenged the 60-min 200-SMA. Cautionas we approach the 50-SMA.
Real-Time Stock Scanner
Rick uses three main trading tools and has dialed them in for max performance. Rick also freely shares his insights on what makes the tools the best and how to use them. Rick is also one of the only traders in the industry that shares his trading account.Traspaerancey and Trading Results.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
