Today’s Swing Trade Ideas

CRNT/Long  (Technology Sector Communication Equipment)  CRNT has formed a Pinball formation with the first target about $1.29 and the second about $1.55. The Pinball formation is a terrific chart pattern to understand.  Many times I refer to it as my ATM machine.  CRNT is now starting to form the left side and center of the bottom with a double bottom and a close over the T-Line, and in this case, a close over the 20-day simple moving average as well.  I’ll talk about the intraday charts in the trading this morning at 9:10 AM Eastern.

• There are a few inverse ETFs on the members’ watchlist that we will also be following very closely today.  Any one of them could have easily been the featured trade idea.

My entry plan idea:  Ideally an inside day above $1.05 and below $1.13, but I will also look to buy on positive trading above yesterday’s high.  Be careful not to chase.
My stop plan idea:  Pinball rules – a close below the T-Line

In an effort to make our website easier to navigate, a new easy-to-find Trading Room Login button has been added.

Saturday Rounded Bottom Breakout Seminar/Clinic

When: Saturday December 13, 2014
Time: 11:00 AM Eastern
Where: Online in the Trading Room
For more information: Click Here

Good Morning, 

SPY:   A candlestick signal doesn’t mean much without confirmation follow-through.  Tuesday the SPY posted a bullish belthold that failed to produce a bullish confirmation or follow-through.  The lower close of yesterday posted a new low that may be looking for the 50-day simple moving average or awfully close to it.  Another thing about candlestick signals is that one candle rarely makes the difference.  It’s usually a bullish signal with accompanying signals that forms a reversal support or reversal resistance.  Last week I wrote about the topping pattern that consisted of multiple candles forming a topping pattern suggesting the bears or the sellers were starting to circle.

IYT:  The last few days in the trading room we have talked about the transports, and if you take a look at the transports ETF “IYT,” you can see that the bears have trapped it and completely own it starting from November 28.

IWM:  IWM still trades in a trading range of 118.70 four a high and 114.40 low, anything between those two numbers is mostly noise.           Yesterday we heard from the bearish Harami family and the question is will we hear from him today and do they have the muscle to close us below 11.40

We have seen weakness the last few days in the market and according to the candlestick signals in candlestick patterns I don’t see that changing just yet.  As of the close yesterday the sellers seem to be on a journey and right now their journey is pointing to the 50 day simple moving average.  If we start to see a rally just keeping your mind how bottoms and reversal patterns are formed, we talk about it most every day in the trading room.

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.

Symbols from TC2000

COUP

COVS

CRNT

FNF

GPK

LAYN

MIK

SPXS

THLD

TRUE

TZA

UVXY

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 above the T-Line ™ implies the bullish short-term swing traders are in control. Note the 3 bar continuation patter.

Energy Sector: XLE, SX90, ERX, USO  A close below the  T-Line ™  implies the bearish short-term swing traders are in control.   No buy signal as of yet.

TLT: A close above the  T-Line ™ implies the bullish short-term swing traders are in control. Still hunting for buyers

UUP US Dollar Index: A close below the  T-Line ™  implies the below short-term swing traders are in control. Dollar may be trying to weaken, wait for conformation.

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.