Today’s Swing Trade Ideas
XON/Long (Healthcare Sector Biotechnology) XON has formed a bullish J-Hook breakout within a RBB strategy along with a bullish “W” pattern. Keep in mind, with yesterday’s 11.5% day, we could see a little profit taking which would offer a good entry for about 17% to target.
My entry plan idea: Inside day buy
My stop plan idea: A close below the T-Line
Good Morning,
SPY: Admittedly, I was not expecting the bullish open yesterday on the SPY, but then again, it did close with a possible…
Shooting Star within pennies of the 50-day simple moving average, and with Wednesday’s dark cloud cover, I can’t help but be slightly skeptical and very cautious. I keep looking at the 200-period simple moving average area as a good area for a profit taking pull back and a possible PBO (Pullback Opportunity), which is also around the 38.2% Fibonacci retracement line. Of course, a bullish breakout of the 50-day simple moving average would be a huge accomplishment for the bulls.
IWM: The recent rally on IWM as well as the SPY has been nothing more than a relief rally in broken charts. The 20-day period moving average has broken down below the 50-day simple moving average. This is a surefire sign that the sellers are in and have control. Therefore, the recent relief rally has been a counter trend trade.
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
Members Trade Ideas – Members Only
In the members area you will find 10-15 trade ideas every day
Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:
| Symbols formembers only | Date | Long/Short | Try our Membership, Check out the Trading Room | |
| 10-23-14 | Long | Buy on positive trading | ||
| 10-21-14 | Long | Buy on positive trading | ||
| 10-20-14 | Long | Profit taking | ||
| 10-17-14 | Long | Buy on positive trading | ||
| 10-14-14 | Long | Buy on positive trading/protect your profits | ||
| 10-9-14 | Long | Buy on positive trading | ||
| 10-2-14 | Long | Buy on positive trading | ||
| 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 | ||
| 8-28-14 | Long | Caution | ||
| 8-14-14 | Long | Buy on positive trading | ||
| 8-13-14 | Long | Target Hit +29% | ||
| 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, Bullish engulf and a doji implies the buyers are very interested, needs follow through.
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 below the T-Line ™ implies the bearish 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.
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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