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
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
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|
|10-17-14||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|
|8-14-14||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.
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