<h3Today’s Swing Trade Idea

ZLTQ (Healthcare Sector Medical Devices) ZLTQ has formed a bullish morning star PBO and exploded with buyers yesterday. I am looking for a challenge of the January 16 highs which is approximately 22-1/2% of profits. ZLTQ is a chart that was discovered by one of our members 1973Hog a couple of days ago. Many of the members in the trading room bought near the $19 area when Steve posted it. Today it is a featured trade idea because of the strength that it’s showing for the target above. Thank you, Steve.

My entry plan idea: (Currently own at $19.08) I will plan to add to this position on dips and breakouts working toward the January 16th high while always watching to take profits into strength if needed.

My stop plan: $19.16 for now.

Good Morning,
SPY: You really have to give the bulls some credit. The bulls have succeeded to put on a good show from the recent August low forming a lower high, higher low and now making a higher high. The bulls have now cleared the first high hurdle of August 11, and it now looks as if it’s headed toward the 50-day simple moving average and the July 31 high in preparation of getting into the gap. The relief rally is still working, and we are taking advantage while keeping a very close eye on the bears lurking. The question remains: Do the bulls have enough energy to reach the July highs?

IWM: It has yet to challenge $114.22 and must do so before the 50-day simple moving average challenge can even be considered. Then the July highs (July 14 and July 24) highs will be a huge challenge without some good news for the market.

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VXX S&P 500 VIX Short Term Futures: Aclose below theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies we could be nearing a PBO, no sign yet

USO United States Oil Fund: Aclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies consolidation/indecision possibly accumulation

GDX Gold Miners ETF: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle Implies indecision, a possible continuation pattern

TLT: Aclose below the T-Line ™ implies the bear short-term swing traders are in control. Yesterday’s candle implies the bullish trend is healthy for now, a PBO in progress.

The above are just my thoughts to myself just thought I would share with everyone.

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.

— Rick

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