Today’s Swing Trade Idea

TVIX Long (Daily 2x VIX Short Term) We can draw a buy box around the last three bars of TVIX and with the directional target about 65% away, it’s perfectly logical that we could capture a piece of that profit, if not all. TVIX has formed a Hit-And-Run Candlestick Rounded-Bottom Breakout.

My entry plan idea: Positive breakout of the buy box at $3.91 with a strong consideration of buying inside the buy box for a better price.
My stop plan: 3.66

Good Morning,
SPY: With price still under the T-Line, the sellers are still in control. The price action or the candlestick signal of yesterday also implies that the sellers are still in control. Our next target to the downside of $189.70 is now in jeopardy. If $189.70 cannot hold the sellers back, then I think we all know the 200-day simple moving average is next.

A number of the inverse ETF‘s are poised to see higher prices. Many are set up in a chart pattern of what we at Hit-And-Runcandlesticks.com call a Rounded-Bottom Breakout or RBB for short. If you’re interested in the rounded-bottom breakout, ask Rick in the live trading room.

Below you will find an example of inverse ETF’s setting up In the rounded-bottom breakout:

• ERY
• SPXU
• VXX
• SPXS
• FAZ
• SRS
• TVIX

IWM: Yesterday’s high tagged the T-Line and was immediately pushed away as if the pressure from above wants IWM to retest the $107.50 floor.

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VXX S&P 500 VIX Short Term Futures: Aclose above theT-Line ™ implies the bullish short-term swing traders are in control, Yesterday’s candle implies buyers are still around

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 on the 200sma support line, not bullish nor bearish.

GDX Gold Miners ETF: Aclose Below the T-Line ™ implies the Bearish short-term swing traders are in control. Yesterday’s piercing candle implies buyers are interested

TLT: Aclose above the T-Line ™ implies the bull short-term swing traders are in control. Yesterday’s bullish engulf implies we may see a higher today or very soon

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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Keep the inverse ETF’s close by and watch them closely they produce good money, fast
Symbols from TC2000