I don’t really expect much market activity today, just more of yesterday. Right, now the market is waiting for the Fed’s announcement “Wednesday.” Yesterday's candle traded narrow and closed with an inside day. With yesterdays close the SPY is still bullish. Price still above the trend and the past six days, there are more higher lows and higher highs than the other way around. SPY above $300 remains bullish, below $300 could put pressure on $297. If the market is happy and the SPY breaks out $302.60 and $303.20 are in the cards.
The VIX-X closed with a bullish engulf and a 3 bar pattern we call a fig Newton, a close above $13.05 could really wake the VIX up and a close above $13.30 would put a bit of pressure on the market. The 2122 chart has now turned back down headed for the lower end, closed yesterday at 46.35
What We're Trading
✅ We closed LYFT yesterday for a loss and bought CVS with a Directional Call Option. Nice Morning Star signal on the 2-day chart. CPB is finally working its way up. GE continues to march sideways in a wedge. Pretty quick it’s going to run out of the wedge. KO up 15% took a little rest yesterday but nothing serious. KSS is in our famous RBB Rounded Bottom Breakout setup! We are up 26.8% and looking good. WBA is just humming along going nowhere. And X gave us a little Hammer yesterday; let's see if something comes out of it. Click Here and choose Trading Room #1 Password 8020👈
😊 Have a great trading day - Rick
✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for the QEP → (QEP) Quality Entry Patterns). ANF, CONN, CAKE, BERY, CVS, EL, BKI, EXAS Check Earnings!
🎯Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade: PYPL, TGT, and ZS. Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.
🎯 Friday 6/21/19 (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.
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