US Markets followed the rest of the world Tuesday (largely on omicron relief after a couple of good news stories), gapping strongly higher and following through for about an hour and a half.  At that point, we saw a sideways grind the rest of the day. This left us with strong white candles that closed near the highs in all 3 major indices.  On the day, SPY gained 2.07%, DIA gained 1.39%, and QQQ gained 3.01%.  The VXX fell over 11% to 22.90 and T2122 jumped higher and made it just into the overbought territory at 80.22.  10-year bond yields rose to 1.48% and Oil spiked another 3% to $71.72/barrel.

Mid-day Tuesday AMZN experienced a major outage of their AWS (cloud computing) operations.  For AMZN, the problem caused operational issues as deliveries had to be halted across the US for a time.  (AMZN delivers two-thirds of their own packages in the US.)  They went so far as to tell drivers to “go somewhere safe and wait.”  More broadly, NFLX, DIS, HOOD, COIN, and other major online businesses were taken offline for a while, because they use the AWS platform to host their IT operations.

Overnight, the PFE-BNTX partnership announced that a third (booster) dose of their vaccine neutralizes the omicron variant of Covid-19.  Their internal study found that after having a booster shot, patients’ antibody protection was increased 25-fold.  European markets moved higher on the news.

In earnings news, after the close last night, TOL and SFIX beat on both lines, but SFIX did lower guidance.  So far this morning, UNFI, THO, and KFY have beat on both lines.  However, CPB beat on earnings but missed on revenue while BF.A and BF.B missed on earnings and posted in-line revenue.

Overnight, Asian markets were mostly green again.  Shenzhen (+1.82%), India (+1.71%), and Japan (+1.42%) led the way higher.  Only Malaysia (-0.26%) and Singapore (-0.16%) showed any red in that region.  In Europe, markets are volatile today but mostly red as of mid-day.  The FTSE (+0.27%), DAX (-0.38%), and CAC (-0.06%) lead the way and are typical.  However, Switzerland (+1.06%) and Denmark (+1.16%) are outliers to the upside.  As of 7:30 am, US Futures are pointing toward a modestly green open.  The DIA is implying a +0.27% open, the SPY implies a +0.26% open and the QQQ implies a +0.23% open at this hour.  10-year bond yields are down (1.468%) and Oil (WTI) is slightly higher ($72.01/barrel) in early trading.

The major economic news scheduled for release Wednesday includes Oct. JOLTS (10 am), Crude Oil Inventories (10:30 am), and 10-year Bond Auction (1 pm).  The major earnings reports scheduled for the day are also limited to BF.A, BF.B, CPB, KFY, THO, and UNFI before the open.  Then, after the close, GME, GEF, and RH report.

The SPY has shot back near the all-time highs again after Tuesday’s action, with the QQQs a percent behind and the DIA about 2% behind. However, it’s been a big rise in a short time and markets may seek some rest soon. Plus, there is still resistance overhead that may prove to be an obstacle. Remember, we still have not established a new bull short-term trend…just a nice run. So continue to be careful.

Don’t be in a hurry to chase. Stick to your trade rules and on managing the things you can control. (Not trying to force the market to obey your desires.) Consistently taking profits when you have them and moving your stops in your favor should be part of your plan. Trade carefully and continue to think twice before holding through earnings…especially without a hedge.

Ed

Swing Trade Ideas for your consideration and watchlist: ANET, TSCO, MRO, FANG, CVX, NOK, ON. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 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.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service