Today’s Trade Idea
Long: UCTT (Technology Sector Semiconductor Equipment and Materials) UCTT is a rounded bottom breakout with about 15% to the 200 SMA. UCTT broke through the big three on June 30 and has consolidated and pulled back to the 50 forming a morning star signal/confirmation pattern.
My entry plan idea: Will be an entry between yesterday’s high and yesterday’s low
My stop plan: $8.59
Good Morning,
SPY: Yesterday the SPY ran into a double top and has come face-to-face with the Evening Star last week and held strong and straight as it did. The bullish posture continues. $200.00 is the next likely target for the buyers; $198.29 still needs to be cleared, and as far as the sellers go, we will continue to monitor price action and the T-Line.
A close yesterday with an inside day above the T-Line and the big three, the Bulls continue to hold the SPY together as it moves sideways. The buyers are still trying to get above $198.29, and the sellers are trying to drop us below $195.06 (two important numbers). One of the things to remember is candlestick signals in candlestick patterns are not required to have follow-through the next day or so; because of this, I’m staying cautious of the Evening Star pattern that was formed last week.
IWM: Challenged the T-Line and the 50 SMA yesterday. IWM should show a little positive trading today and a close above the 50 SMA would be a good bullish sign that bottoming support is being constructed.
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| Symbols for members only | Date | Long/Short | ||
|---|---|---|---|---|
| 7-23-2014 | Long | Buy on positive trading | ||
| 7-21-2014 | Long | Wait for buysignal | ||
| 7-17-2014 | Long | Wait for buysignal | ||
| 7-16-2014 | Long | Buy on positive trading | ||
| 7-15-2014 | LONG | Buy on positive trading | ||
| 7-14-2014 | Long | Buy on positive trading | ||
| 7-11-2014 | Long | Buy on positive trading | ||
| 7-9-2014 | Long | Buy on positive trading | ||
| 7-8-2014 | Long | Buy on positive trading | ||
| 7-7-2014 | Long | Buy on positive trading | ||
| 6-26 | Long | Buy on positive trading | ||
| 6-16-2014 | Long | Buy on positive trading | ||
| 6-4-2014 | Long | Buy on positive trading | ||
| 6-3-2014 | Long | Did you take your profits | ||
| 5-13-2014 | Long | be a profit trader | ||
| 5-6-20145-28-2014 | Long | Buy on positive trading | ||
| 4-14-2014 | Buy on positive trading | |||
| +8% | 4-9-2014 | Long | Buy on positive trading | |
| +38% | 2-25-14 | 200sma | Buy on positive trading |
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VXX S&P 500 VIX Short Term Futures: Yesterday’s close above theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candlestick implies consolidation
USO United States Oil Fund: Yesterday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candlestick implies consolidation
GDX Gold Miners ETF: Yesterday’sclose below the T-Line ™ implies the bearish short-term swing traders are in control. Yesterday’s candlestick implies consolidation
TLT: Yesterday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candlestick implies the sellers are ready to battle 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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