Today’s Swing Trade Idea
TZA (Small Cap Bear 3X) Also featured on September 5, TZA has now formed higher lows and higher highs. Friday’s close is set to launch the higher high today. The bullish rising method painted in the TZA picture will try to launch price into the low $16 area and then maybe try to sneak to the 200-day simple moving average. This would be about a 12-1/2% swing trade from the featured date.
My entry plan ideas: Buy over the 50-day simple moving average
My stop plan: A close below the 50-day moving average
Good Morning,
SPY: Friday’s low at the 20-day simple moving average will be important for the bulls to continue control. A close below Friday’s low at the 20-day simple moving average would suggest that the 34 EMA and the 50-day simple moving average are targets for the sellers. We remain cautiously bullish and cautiously bearish because over the next few days, we may see both directions in individual charts this week.
IWM: The IWM is in sad shape. The bears seem to be having a good time toying with the bulls. Last week the bears managed to paint a falling method candle pattern and with selling follow-through below $113.40, that could set the bears up on an adventure.
TZA was a featured trade idea on September 5, 2014 and like most stock picks, there is a requirement to allow the chart pattern to work. Chart patterns like candlestick signals do not have to reward traders the very next day, and it may take a day or two for the pattern to generate the energy that it needs to move in therequired direction. TZA has made ups and downs from the September 5 featured date, but you can see in the chart it has made constant higher lows currently up about 5% from our post.
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| Symbols formembers only | Date | Long/Short | ||
|---|---|---|---|---|
| 9-18-2014 | Long | Buy on positive trading | ||
| 9-18-2014 | Long | Watch for buy signal | ||
| 9-17-2014 | Long | Watch for buy signal | ||
| 9-5-2014 | Long | Buy on positive trading | ||
| 9-2-2014 | Long | Buy on positive trading | ||
| 8-28-2014 | Long | Caution | ||
| 8-21-2014 | Long | Caution | ||
| 8-20-2014 | Long | Close on weakness | ||
| 8-19-2014 | Long | Wait for a buy signal | ||
| 8-14-2014 | Long | Buy on positive trading | ||
| 8-13-2014 | Long | Wait for buy signal | ||
| 7-31-2014 | Long | Wait for buy signal | ||
| 7-29-2014 | Long | Close on weakness | ||
| 7-15-2014 | LONG | Wait for a buy signal | ||
| 7-8-2014 | Long | Caution/ close on hard selling | ||
| 7-7-2014 | Long | Wait for buy signal | ||
| 6-16-2014 | Long | Buy over 20sma/ Close on weakness |
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VXX S&P 500 VIX Short Term Futures: A close below theT-Line ™ implies the bearish short-term swing traders are in control, Yesterday’s candle implies a slight buyer interest
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 is suggesting indecision,
TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday’s candle implies the buyers 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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Keep the inverse ETF’s close by and watch them closely they produce good money, fast
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