Today’s Trade Idea
Long: AAPL (Technology Sector Consumer-Electronics) Apple is forming a bullish continuation pattern above the T-Line. The pattern is over the last three trading days with a gap and bullish close on Wednesday of last week followed by an inside day Doji on Thursday and then Friday closing with a little Bullish Engulf. We have targets in the $100 area and higher. AAPL was also a featured trade idea on July 8, 2014.
My entry plan idea: (Currently own) A new buy between Friday’s high and the T-Line might prove to be a good entry as well as an add to.
My stop plan: A strong candlestick sell signal or a close below the T-Line
Good Morning,
SPY: Price closed below the T-Line Friday giving the balance of power for the short-term swing traders to the sellers. Friday’s gap down and closing candlestick is suggesting the sellers are making a play for control. Overall, you can visually see that the Bulls control the trend, so what we are seeing is a little correction which is not too surprising considering the geopolitical problems right now.
This is a big week of earnings and economic events such as the GDP report on Wednesday, FOMC meeting announcement on Wednesday, jobless claims on Thursday, employment situation on Friday and personal income outlays on Friday as well, and all of these are considered market movers. I think it’s very important for the Bulls to defend the 20-day simple moving average, and if they fail the 50-day simple moving average will be the next line for the Bulls to defend (July 10 lows will be important).
IWM: The sellers are trying hard to draw a dreaded H chart pattern and for the most part they have succeeded. $112.20, the July 17 low, is the last defending line for the Bulls. Friday’s close was a Doji and was on the 200-day simple moving average. Whether or not it proves to be a bullish turning point is yet to be seen. This Week’s Economic Calendar—> Click Here
Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only: Become a Member—> Click Here
| Symbols for members only | Date | Long/Short | ||
|---|---|---|---|---|
| 7-24-2014 | Long | Buy on positive trading | ||
| 7-23-2014 | Long | Buy on positive trading | ||
| 7-22-2014 | Long | Buy on positive trading | ||
| 7-21-2014 | Long | Buy on positive trading | ||
| 7-17-2014 | Long | caution | ||
| 7-16-2014 | Long | Close | ||
| 7-15-2014 | LONG | Wait for buysignal | ||
| 7-14-2014 | Long | Wait for buysignal | ||
| 7-11-2014 | Long | Buy on positive trading | ||
| 7-9-2014 | Long | Close | ||
| 7-8-2014 | Long | Buy on positive trading | ||
| 7-7-2014 | Long | Watch for PBO | ||
| 6-26 | Long | Buy on positive trading | ||
| 6-16-2014 | Long | Buy on positive trading | ||
| 6-4-2014 | Long | Watch for PBO | ||
| 6-3-2014 | Long | Did you take your profits | ||
| 5-13-2014 | Long | Buy on positive trading | ||
| 5-6-2014
5-28-2014 |
Long | Caution | ||
| 4-14-2014 | Caution | |||
| +8% | 4-9-2014 | Long | Buy on positive trading | |
| +38% | 2-25-14 | 200sma | Close |
***Members see the ticker symbols —> Become a Member Click Here
VXX S&P 500 VIX Short Term Futures: Friday’sclose above theT-Line ™ implies the bullish short-term swing traders are in control, Friuday’s candlestick implies The buyers are looking for the 50sma
USO United States Oil Fund: Friday’sclose below the T-Line ™ implies the bearish short-term swing traders are in control. Friday’s candlestick implies buyers are trying but not good enough
GDX Gold Miners ETF: Friday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Friday’s candlestick implies a a test of 27.00
TLT: Friday’sclose above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candlestick implies 119-120 target
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
Members Trade Ideas – Members Only
Symbols from TC2000
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