Today’s Swing Trade Idea
No featured trade idea today
My entry plan ideas:
Good Morning,
SPY: It’s my opinion the market is beginning to form a top and we should see price fall further yet. It’s also my opinion that we will see relief along the way. Until I see a bullish bottom constructed, I will lean toward more short setups and inverse ETF long trades. I will pick up a few long trades, but I will also tighten up my rules on profit taking and stops.
In the SPY as of yesterday, the sellers continue to control the trend below the T-Line, and as we know, when price falls below the T-Line, we must see a buy signal and pattern before we become buyers. Yesterday’s candle close below the previous day’s low, which was a very important number for the Bulls to defend, about $193.25 is what the sellers are looking for, expect bullish relief rallies but the bears aren’t finished.
IWM: IWM found a double bottom support line and could trigger a bullish relief rally ,but in my opinion, the sellers will be back. Trade cautious and have a plan.
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| Symbols formembers only | Date | Long/Short | ||
|---|---|---|---|---|
| 9-23-2014 | S | Cover on positive trading | ||
| 9-18-2014 | Long | Buy on positive trading | ||
| 9-18-2014 | Long | Wait for buy signal | ||
| 9-17-2014 | Long | Close | ||
| 9-5-2014 | Long | Buy on positive trading | ||
| 9-2-2014 | Long | Caution | ||
| 8-28-2014 | Long | Close on weakness | ||
| 8-21-2014 | Long | Close on weakness | ||
| 8-19-2014 | Long | Buy on positive trading | ||
| 8-14-2014 | Long | Close on weakness | ||
| 8-13-2014 | Long | Close on weakness | ||
| 7-31-2014 | Long | Buy on positive trading | ||
| 7-15-2014 | LONG | Close on weakness | ||
| 7-8-2014 | Long | Close on weakness | ||
| 6-16-2014 | Long | Close on weaknessakness |
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VXX S&P 500 VIX Short Term Futures: Aclose above theT-Line ™ implies the bullish short-term swing traders are in control, Yesterday’s candle implies buyers are in control
USO United States Oil Fund: Aclose above the T-Line ™ implies the bullish short-term swing traders are in control. The current candle pattern is suggesting continuation.
TLT: Aclose 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
Members Trade Ideas – Members Only
Keep the inverse ETF’s close by and watch them closely they produce good money fast.
Symbols from TC2000
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