Today's Swing Trade Ideas
ISNS/Long (Technology Sector Software Application) ISNS is setting up to possibly be one of our Rounded Bottom Breakouts (RBB). It hasn't broken out over the 50-day moving average yet, but if it does, it could easily run to the 200- period moving average which is about 15% from the 50-period moving average. ISNS has been trading in a bearish manner for a few weeks. A few days ago, a Bullish Engulf was printed followed by a couple of Doji's and then another very small Bullish Engulf with a volume breakout, yesterday’s close over the T-Line and the 20-period moving average.
My entry plan idea: Below 3.33 and above the T-Line
My stop plan idea: A close below the T-Line
SPY: Yesterday, a bearish dark cloud cover was printed on the SPY after reaching a new high into resistance. A bearish dark cloud cover does not necessarily mean...
that the sellers are going to run completely over the buyers; however, it does indicate that the recent bullish trend may be running out of fuel. A way to get more fuel is from a minor profit taking pull back. As a little side note, please remember that candlesticks require confirmation. In a perfect world, I would like to see a profit taking pull back to about $190.30, a bullish reversal signal and then rally up through $194.91 or yesterday's high. If the buyers cannot control the profit taking at $190.30, well, we could have a problem.
IWM: Yesterday's print was a bearish engulf and a bearish engulf is suggesting a lower low today. $108.10 will be an important area for the Bulls to defend and the bears to get through. A close below $106.95, whether it be today or tomorrow, would put the October lows in jeopardy. If you've been in the Hit & Run Candlesticks trading room, you know that we've been saying that the recent bullish relief rally could not possibly continue without at least a profit taking pull back.
There are simply two scenarios: one being bearish with price cracking the October low; the other being bullish where we have a light profit taking pull back creating a Pullback Opportunity (PBO) and then another bullish rally closing higher than $111.06. Of course, then we have to deal with the 50-period moving average as well as the 200-period moving average.
What is a PBO? Click Here
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|
|10-21-14||Long||Buy on positive trading|
|10-17-14||Long||Buy on positive trading|
|10-14-14||Long||Buy on positive trading/protect your profits|
|9-30-14||Long||Buy on positive trading/watch for profit taking|
|9-25-14||Long||Buy on positive trading|
|9-18-14||Long||Buy on positive trading above the 50|
|9-5-14||Long||Buy on positive trading|
|8-14-14||Long||Buy on positive trading|
|8-13-14||Long||Buy on positive trading/protect profits|
|7-8-14||Long||Buy on positive trading/think profits|
VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control, Yesterday's candle implies sellers are in control.
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 implies consolidation and sellers are in control.
The above are just my thoughts to myself just thought I would share with everyone.
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