Today’s Swing Trade Idea

TSEM (Technology Sector Semiconductors) TSEM is the featured trade idea and today I feel it should be featured because of the bullish trend that it has been in, the pullback that is finding support on the 50-day simple moving average with a double bottom, the last four days has formed a four-bar cradle pattern, not to mention that yesterday we gapped over a doji and closed over the T-Line and the 20-day simple moving average.

My entry plan ideas: Buy on positive trading or an inside day down to the T-Line.

My stop plan: A close below the T-Line.

Good Morning,
Today @ 2:00 PM FOMC Minutes, Thursday Jobs report and Friday Ms Yellen

What is Day Trading vs. Swing Trading

When you enter the trading world, you will find that there are many different strategies. It can be confusing until you figure out what type of trader you want to be. The process of determining what kind of trader you want to be depends a lot on your personality, time commitment, account size and skill level. In this article, we present an overview of day trading vs. swing trading so you can begin to explore what is right for you.

To read more on Day Trading vs. Swing Trading Click Here

SPY: After a stellar bullish rally, the SPY has run into resistance as it tries to force its way through the recent July highs. If the market finds the next three days of news bullish, it will likely find its way through that resistance area and create a new high. On the other hand, if the market finds the next three days disappointing and not worthy, then it will likely look for support at a lower price. Logical support would be near the 50-day simple moving average.

IWM: IWM also has had a stellar rally the last week. Unfortunately, it didn’t clear the 50-day simple moving average as strongly as I would’ve liked to have seen, and now with a double top at the 50% retracement line of the July high and August low, IWM is a prime target for a blue ice failure. I suspect the economic news over the next three days will push IWM one way or the other. It’s important to follow price action and candlestick formation to give us a whisper of the intended direction.

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VXX S&P 500 VIX Short Term Futures: A close below theT-Line™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies we could be nearing a PBO.

USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candle implies sellers are still in control

GDX Gold Miners ETF: A close below the T-Line™ implies the bearish short-term swing traders are in control. Yesterday’s candle Implies no direction

TLT: A close above the T-Line™ implies the bull short-term swing traders are in control. Yesterday’s candle implies profit taking

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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