Trade Ideas September 30-14

Today's Swing Trade Ideas

NQ (Technology Sector Software Application) NQ Is a rounded bottom breakout with about 20% to the first target of the July 30 high and about 60% to the 200 day period moving average. NQ started with a Bullish Engulf on July 18 followed up with a rally and then consolidated along the big 3 for a couple of months. Over the past two weeks we've seen a double bottom, Bullish Engulf, bullish consolidation with follow-through.

My entry plan idea: (Long on September 23) I will add to NQ on consolidation in the buy box or a bullish breakout.

My stop plan idea: Current stop plan is a close below $6.30

  • NQ, GPRO, BLOX, HIMX big hits from the H&R trading room several days ago ahead of the crowed.

 

Member E-learning tonight at 8 PM EST in the live trading room.

FYI, the trading room password will be changing after E-learning.

Good Morning,

SPY: The correction that started on September 19 has corrected with lower highs and lower lows, also with bullish and bearish days. You can see this by looking at the SPY chart and its candlesticks or price action. If you draw a line starting at the low of February 4 to August 7, you can see that the extension comes within pennies of yesterday's low. So the question is: Will price obey the support line it currently falls into? Are the last two trading days that posted bullish candlesticks indicating that the buyers are starting to outweigh the sellers? But what the buyers have not been able to do as of yesterday is close back above the T-Line, nor has it been able to form a series of higher lows and higher highs. From the price action, it does appear that a bottom may be trying to form, but we still need a close above the T-Line and a bottoming chart pattern that has constructed a bullish foundation.

 

IWM:  With double bottom support Friday and yesterday showing handsome buyers, is there a bullish bottom being constructed? Could be, but as of yet, we've not seen higher highs and higher lows and a close above the T-Line. Traders that trade in the direction of the trend are more likely to profit. What is your trend that you trade?

 

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Symbols for members only Date Long/Short
9-29-14  Long  Buy on positive trading
9-18-14 Long Buy on positive trading
9-18-14 Long Wait for buy signal
9-17-14 Long Buy over T-Line
9-5-14 Long Close
9-2-14 Long Buy on positive trading
8-28-14 Long Watch for buy signal
8-21-14 Long Watch for buy signal
8-19-14 Long Caution/Close
8-14-14 Long Buy on positive trading
8-13-14 Long Buy on positive trading
7-31-14 Long Back to support, close on weakness
7-8-14 Long Buy on positive trading
6-16-14 Long close

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VXX S&P 500 VIX Short Term Futures: A close above the T-Line ™ implies the bullish short-term swing traders are in control, Yesterday's candle implies buyers are a bit tired, likely to rest today.

USO United States Oil Fund: A close above the T-Line ™ implies the bullish short-term swing traders are in control. The current candle pattern is suggesting bullish continuation.

TLT: A close above the T-Line ™ implies the bullish short-term swing traders are in control. Yesterday's candle implies Indecision in a continuation pattern, profit taking likely.

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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