Today's Swing Trade Ideas
ANAC/Long (Healthcare Biotechnology) ANAC is poised to break out of $27.28. The bullish trend has allowed a pull back to the 50-day moving average forming a very nice little rounded bottom J-Hook chart pattern. The $29.50 area could be the next target.
My entry plan idea: Buy on positive trading above the T-Line and 20 SMA or a breakout
My stop plan idea: A close below $24.14
SPY: Friday's Doji close below the T-Line implies the sellers are still in control of the T-Line trend...
The buyers did make an impressive end-of-week run, but unfortunately all they really did was trade within last week's knee-jerk low and the T-Line. Based on last week's price action and Friday's close, I will be putting emphasis on the T-Line and the 200-day moving average. This is the area that the buyers will need to control and take from the sellers. Last week, the buyers did break ground on possibly constructing a reversal bottom. Although more construction is needed to support last week's low
IWM: IWM maintained its close over the T-Line last week, even though based on Friday's candle, you would have to give it to the sellers. The buyers did defend the T-Line. A close below $107.20 would put a great deal of pressure on the buyers and a slip from there could be very dangerous. A close above $107.20 would indicate the buyers are hanging around possibly making a plan. Be careful; we could see a lot of chopping around in the market for a few days.
This Week's Economic Calendar---> Click Here
Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:
|Symbols formembers only||Date||Long/Short||Try our Membership, Check out the Trading Room|
|10-17-14||Long||Buy on positive trading|
|10-14-14||Long||Buy on positive trading|
|10-3-14||Long||Close on weakness|
|9-30-14||Long||Buy on positive trading/watch for profit taking|
|9-18-14||Long||Buy on positive trading|
|9-5-14||Long||Wait for it|
|8-28-14||Long||Buy on positive trading|
|8-13-14||Long||Buy on positive trading|
|7-8-14||Long||Wait for a direction|
VXX S&P 500 VIX Short Term Futures: A close above the T-Line ™ implies thebullish short-term swing traders are in control, Yesterday's candle implies buyers are tying find support near the T-Line
USO United States Oil Fund: A close below the T-Line ™ implies the bearish short-term swing traders are in control. The current candle pattern implies buyers are trying to build a short term bottom.
TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Recent candles imply profit taking underway.
The above are just my thoughts to myself just thought I would share with everyone.
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