Today’s Swing Trade Ideas

SPEX/Long (Industrial Sector Business Services) SPEX has been forming a fry pan bottom for the last four months and recently closed over the 50-day simple moving average on volume. It then consolidated for a few weeks and is now back over the 50-day simple moving average with the T-Line and the 20-day simple moving average following price. With the close of Friday, we have formed a rounded bottom breakout. With about 90% possible profit to the 200-day simple moving average, SPEX could be a profit maker. Back on September 30, I did buy and have continued to hold. As of Friday’s close with a 12% profit, SPEX is now set up to grab a good piece of that 90% possible profit.

My entry plan idea:  (Already long) Buy or add more on an intraday pullback
My stop plan idea:   A close below the 50-day simple moving average for now

Good Morning,

SPY: I would suspect that all eyes will be watching what price does with the…

SPY: I would suspect that all eyes will be watching what price does with the 50-day simple moving average. I know I certainly will. This could be a crossroads for both the buyers and sellers. Whether it’s today or the next few days, for the bulls to get anywhere, they need to own the 50-day simple moving average, and if the bears want to continue on the next leg down, they need to stop those bulls. So again, the 50-day simple moving average on the daily chart will be an extremely important area for both the buyers and sellers.

IWM: The recent countertrend relief rally in IWM also closed last week shy of the 50-day simple moving average. Please note that the 20-day simple and 50-day simple moving averages are both trading below the 200-day simple moving average on the daily chart. What this tells me is the sellers still control IWM. On a positive note, the recent countertrend relief rally has made many short-term swing traders happy; however, I do think it’s time to go into a protective mode to protect your recent profits until we know for sure that the 50-day and the 200-day moving averages can be breached.

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Current Swing Trade Featured Trade Ideas- Gold & Silver Members Only:

VXX S&P 500 VIX Short Term Futures: A close below the T-Line ™ implies the bearish short-term swing traders are in control, Current candle pattern 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