Markets made a modest gap higher at the open Friday and then waffled until mid-morning.  At that point there a sharp rally for about 45 minutes before the market went dead-flat the rest of the day.  This left us with strong white candles in the QQQ and SPY, but a Spinning Top in the DIA.  On the day, SPY gained 0.75%, QQQ gained 1.06%, and DIA gained 0.51%.  The VXX fell to 20.36 and T2122 rose, but remains in the mid-range at 71.00.  10-year bond yields rose to 1.578% and Oil fell a percent to $80.77/barrel.

During last week, Elon Musk ended up selling about $6.9 billion worth of TSLA stock.  This included about $1.2 billion on Friday.  Despite his having used a TWTR poll a week ago as justification, one of the main reasons behind his sale was to get the cash to pay taxes on a large pool of stock options he will be exercising this quarter. TSLA stock fell 15.4% on the week.  However, in his apparent effort to remain in the news, this weekend, Musk taunted Senator Bernie Sanders and, in the process, suggested he may sell more shares of TSLA.

President Biden is scheduled to hold a several-hour “virtual summit” with Chinese President Xi today.  The focus will be on Taiwan, its security, and rising tensions over what China calls a “renegade province” (or country, although we have never recognized them as a separate country).  Trade, tariffs, and global supply chain issues are not scheduled to be on the agenda.  However, the US-imposed tariffs are a major Chinese concern and on the US side, the Chinese commitment to reduce the use of coal (COP24 watered-down agreement) and the Chinese treatment of Uyghur minorities are priority issues.

Retail will take the earnings spotlight this week.  WMT, HD, LOW, TGT, TGX, KSS, M, ROST, and FL all report later this week.  In addition to Q3 reports, markets will be listening to how companies plan to cope with supply problems and spiking inflation in Q4.  In related news, TSN beat on both lines and AAP beat on revenue, but missed on earnings in their reports this morning.

Overnight, Asian markets were mixed but mostly green.  South Korea (+1.03%), Taiwan (+0.66%), and Japan (+0.56%) paced the gainers.  Meanwhile, Malaysia (-0.58%), Indonesia (-0.53%), and Shenzhen (-0.47%) were the only appreciable losers.  In Europe, markets are more mixed and lean to the red side on modest moves.  The FTSE (-0.19%), DAX (+0.12%), and CAC (+0.42%) are typical of the spread across the continent at mid-day.  As of 7:30 am, US Futures are pointing toward a green open.  The SIA is implying a +0.29% open, the SPY is implying a +0.23% open, and the QQQ implies a +0.24% open at this hour.

The only major economic news scheduled for release Monday is limited to NY Empire State Mfg. Index (8:30 am).  Major earnings reports scheduled for the day are limited to ACM, DDL, TSN, and WMG before the open.  Then after the close, AAP, EDR, and RXT report.

With only the Empire State Mfg. Index report this morning and little earnings news, the path seems open for bulls to follow through on Friday and move prices higher (at least early). Remember that the short-term (pullback) downtrend has been broken in the SPY and QQQ and is being challenged in the DIA. However, that longer-term strong bullish trend remains in place and we sit near all-time highs.

Watch your current positions before looking to add any new trades. Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Trade carefully and continue to think twice before holding through earnings…especially without a hedge.

Ed

Swing Trade Ideas for your consideration and watchlist: GRWG, BX, SKLZ, BMY, CRSR, ROOT, AAPL, NKLA. 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

Markets gapped higher at the open Thursday, but then drifted sideways back inside the gap the rest of the day on light holiday volume.  DIA was the exception as it opened flat and traded down all day as traders punished DIS for their terrible report the night before.  This left us with black candles in all 3 major indices.  On the day, SPY gained 0.04%, DIA lost 0.45%, and QQQ gained 0.28%.  The VXX fell 2% to 21.14 and T2122 rose a little but remains solidly in the mid-range at 63.51.  10-year bond yields rose to 1.57% and Oil (WTI) fell to $81.17/barrel.

This morning, JNJ announced plans to split into two companies, one focused on consumer healthcare products and the other being its pharmaceutical and medical device business units.  (This is the second version of such a scheme in months.) The logic behind this plan is to move all liability from the Johnson’s Baby Powder cancer lawsuits into the consumer products business, insulating the larger business unit from liability.  The move came just days after the company’s attempted “Texas two-step” (to split off just the talc business alone and choose its own bankruptcy court to limit company liability) failed and the courts ruled that the JNJ bankruptcy will be heard and litigated in the company’s home state of New Jersey.  Hence the company is looking to divide to protect what parts of the company it can.  JNJ stock is soaring in premarket on the news.

Continuing the conglomerate breakup theme started by GE and followed (for different reasons) by JNJ, Toshiba announced overnight that it is also breaking up.  This one is a breakup into 3 companies. TOSYY will spin off its “device and storage” business which makes chips (now branded as Kioxia) as well as its “energy and infrastructure” units into their own companies.  This split comes after a 5-month strategic review that was spawned by a governance scandal.  The company hoped the reorganization is completed by the second half of 2023.  Toshiba closed 1% lower on the news in Japan.

So far this morning, SPB reported a beat on both lines and AZN beat on revenue but missed on earnings.  In other business news, Elon Musk took a back-handed shot at new rival RIVN.  In a tweet last night, Musk said “I hope they (RIVN) are able to achieve high production and breakeven cash flow.  That is the true test.”  He went on to say TSLA is the only American carmaker to do so in the past 100 years.  RIVN is up 58% from its IPO price in two days of trading (and up 4% in premarket).  TSLA is up about 8% over the same time and is flat in premarket trading.

Overnight, Asian markets were mostly green.  South Korea (+1.50%), India (+1.28%), and Japan (+1.13%) led the way.  However, gains were widespread and only New Zealand (-0.91%), Indonesia (-0.60%), and Singapore (-0.30%) were in the red in the region.  In Europe, markets are more mixed at mid-day.  The FTSE (-0.39%), DAX (+0.16%), and CAC (+0.35%) are typical of the continent in early-afternoon trading.  As of 7:30 am, US Futures are pointing toward a modestly green start to the day.  The DIA is implying a +0.28% open, the SPY implies a +0.22% open, and the QQQ implies a +0.25% open at this hour.  Bonds are up off overnight lows to 1.568% and Oil (WTI) is down almost 2% in early trading.

The major economic news scheduled for release Friday is limited to Sept. JOLTS and Michigan Consumer Sentiment (both at 10 am) as well as a Fed speaker (Williams at 12:10 pm).  Major earnings reports scheduled for the day are limited to AZN and SPB before the open.  There are no major earnings reports after the close.

With no economic news before the open and coming off a slow holiday session, markets are seeming to want to drift higher. While the trend of “rationalizing conglomerates” (breaking into actually related units) will get a lot of talk, that is not enough to move markets. Remember that the short-term trend is down, but the longer-term trend is very bullish and we sit near all-time highs.

Watch your current positions before looking to add any new trades. Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: WISH, VUZI, CSIQ, CRSR, FAST, LUMN, ROOT, FCX, QS. 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

Markets gapped lower at the open, after a higher-than-expected CPI number (4.6% vs 4.3% est.), but then rallied to fade the gap the first half-hour of the day.  However, that was the last sighting of the bulls as stocks sold off from 10 am all the way into the close.  This left us with black Spinning Top type candles that closed below the T-line (8ema) in all 3 major indices.  On the day, SPY lost 0.80%, DIA lost 0.61%, and QQQ lost 1.47%.  The VXX rose just under 2% to 21.58 and T2122 dropped back to mid-range at 54.08.  10-year bond yields spiked to 1.565% and Oil (WTI) fell almost 3.5% to $81.28/barrel.

In addition to the CPI number, new Jobless claims came in slightly higher than expected, but still down 4,000 below the prior week.  Interestingly, oil inventories came in far, far lower than expected (less than half of expected and less than one-third of the prior week’s inventory at 1 million barrels vs 2.13 million barrels expected).

After the close DIS reported a miss on both lines.  In particular, it was a bad miss on earnings.  In addition, the company reported on Disney+ subscriber estimates and overall reduced streaming demand across all of its properties (Disney+, ESPN+, Hulu+, etc.).  What makes the Disney+ subscriber miss worse is that the company had previously lowered the forecast before missing their own estimate.

In a follow-up to his “Twitter poll” self-promotion on Saturday (where almost 58% said he should sell 10% of his TSLA stock), Elon Musk sold $4.98 billion of TSLA stock on Tuesday and Wednesday.  The SEC filing indicates these were not planned sales.  Despite his “poll”, it turns out Musk made the sale so he could satisfy tax obligations after exercising a large block of stock options.  TSLA fell more than 15% on Tuesday before rebounding 4% on Wednesday.

Overnight, Asian markets were mixed, but the real movers were on the green side.  Shenzhen (+1.27%), Shanghai (+1.15%), and Hong Kong (+1.01%) led the way as China rebounded.  In Europe, markets are also mixed at mid-day.  The big exchanges are all green (barely in cases), but there are more than a half of a percent losses across many of the smaller countries.  The FTSE (+0.42%) leads with the DAX (+0.07%) and CAC (+0.08%) staying barely above water in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a green open.  The DIA is implying a +0.13% open, the SPY implies a +0.36% open, and the QQQ implies a robust +0.61% open at this hour.

Due to the Veterans Day holiday, there is no US economic news scheduled for release, but OPEC releases its monthly report at 7 am.  Major earnings reports scheduled for the day include MT, AZUL, BHG, BAM, CAE, CRC, EPC, OGN, SBH, TPR, and WB before the open.  Then after the close, FLO and PAGS report.

With no economic news on the agenda as well as government offices and banks closed for the holiday, do not be surprised if markets drift on light volume. One story that is likely to gain some traction is another surge in cases in Germany (more than 50,000 new cases per day on a population of 83 million), which is obviously a major economy and tied to all of the EU.

The trend remains bullish and the pullback of the last few days is a healthy thing for a rally (easing over-extension). With that said, we know consolidations and pullbacks can last a lot longer than we expect. So, just as with long-term trend reversals, don’t get caught trying to predict short-term reversals either. The trend is our friend.

Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Watch your current positions before looking to add any new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: QS, FCEL, PLUG, GM, BIG, NEE, COTY. 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

Markets opened flat on Tuesday but sold off hard the first half-hour of the day.  From that point, stocks traded sideways in a pretty tight range the rest of the day but did close up off the lows.  This left us with black candles in all 3 major indices and broke a long string of consecutively higher closes in the large caps.  However, all 3 indices remained in their uptrends and above the 8ema (T-line).  On the day, SPY lost 0.32%, DIA lost 0.29%, and QQQ lost 0.69%.  The VXX rose to 21.21 and T2122 fell to just outside of the overbought territory at 78.79.  10-year bond yields fell to 1.441% and Oil (WTI) rose almost 3% to $84.40/barrel.

Before the open Tuesday, wholesale prices were announced.  They came in up 0.6% for the month and up 8.6% year-on-year (the highest pace in 11 years).  As such, markets sold off early on Tuesday. The PPI was seen as a potential read-through to the more widely watched CPI number coming today.  The consensus expectation for the CPI number is 0.6% for the month and 4.3% year-on-year. However, those seem a lot less likely given the 8.6% wholesale-level increase.

During the day, the big business news was the GE announcement that they will break their company.  The 3 new companies will focus on aviation, healthcare, and energy.  This will be done by spinning off the health care unit by mid-2023 and then spinning off the energy unit by early 2024.  GE stock closed up 2.65% after a very volatile (more than 5% range) on the day.  While activist investors had been calling for such a move for a long time and many thought that was the reason Larry Culp (GE’s first “outsider” CEO) was brought in, the timing surprised the market.

In miscellaneous news, RIVN is set to launch its IPO this morning.  The company priced its shares above the underwriter-valued range (initially $60, then $73) at $78 per share.  Mortgage rates have also dived in the last week, moving from 3.24% to 3.16% on average nationally for a 30-year fixed, conforming loan.  As a result, refinance loan demand was up 7% and new home purchase loan application were up 3% for the week.  Finally, GOOG lost another appeal of the $2.8 billion fine the EU imposed in 2017 for antitrust law breaches.  The company can drag it out the requirement to pay even further with one last appeal to the EU’s highest court and this is exactly what GOOG is expected to do.

Overnight, Asian markets were mostly in the red.  Hong Kong (+0.74%), Indonesia (+0.20%), and Taiwan (+0.10%) were the only exceptions.  However, South Korea (-1.09%), Japan (-0.61%), and Shanghai (-0.41%) paced the losses in the rest of the region.  In Europe, markets are mixed, but mostly red at mid-day.  The FTSE (+0.44%), DAX (-0.12%), and CAC (-0.37%) are typical of the region, with the lone outlier of Denmark (-1.54%).  As of 7:30 am, US Futures are pointing to a down open.  The DIA is implying a -0.16% open, the SPY implies a -0.25% open, and the QQQ is implying a -0.47% open ahead of the news.  10-year bond yields are up to 1.474% and Oil (WTI) is down nine-tenths of a percent in early trading.

The major economic news scheduled for release on Wednesday is limited to Oct. CPI and Weekly Initial Jobless Claims (both at 8:30 am), Crude Oil Inventories (10:30 am), and Oct. Federal Budget Balance (2 pm).  (The Jobless Claims come a day early this week due to the Veterans Day government holiday on Thursday.)  Major earnings reports scheduled for the day include ADNT, AER, ARCO, ARKO, GIB, DFH, ENR, KELYA, EYE, PFGC, RPRX, WEN, and WWW before the open.  Then after the close, APP, ATO, BZH, COMP, ENS, ULCC, KGC, OPAD, OPEN, SPTN, and DIS report.

Inflation is in focus this morning, along with jobless claims. However, after the win streak on the Jobless Claims front the last 6 weeks, few are expecting a jump in claims today. However, the CPI data is expected to come in much hotter than the 4.3% rate consensus forecast. The reaction to this number is likely to call the tune and drive markets at least the first part of the day.

The trend remains bullish, but the last couple of candles have given the bulls come relief from extension. Yes, they were black candles, but this was a good thing for bulls because that over-extension was preventing some new buying. With that said, consolidations and pullbacks can last a lot longer than you expect. So, just as with long-term trend reversals, don’t get caught trying to predict short-term reversals either. The trend is our friend.

Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Watch your current positions before looking to add any new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: HL, CGC, CLX, NEM, TLRY, KR, KRE. 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

The DIA gapped half a percent higher at the open, while the SPY and QQQ opened flat.  From there, all 3 major indices ground sideways with a slightly bearish trend.  This left us with indecisive Spinning Top or Doji candles in all 3 major indices.  On the day, SPY gained 0.08% (to a new all-time high close), DIA gained 0.27% (to another new all-time high close), but QQQ lost 0.14%.  The VXX was flat at 20.84 and T2122 fell a bit but remains in the overbought territory at 87.83.  10-year bond yields rose to 1.497% and Oil (WTI) closed up 1.21% to $82.26/barrel.

During the day Monday, traders piled into the infrastructure plays, following through on the weekend passage of the infrastructure bill.  Among the big winners on the day were CAT (+4.01%), FCX (+6.40%), VMC (+4.95%), NUE (+3.61%), etc.  However, almost all of these saw pops at the open, with some early follow-through, and then faded the gap on a strong pullback.

In a semi-annual report released Monday, the Fed warned that asset prices continue to rise and are now are a perilous risk of crashing (if the economy were to take a turn, thus causing a change in investor risk sentiment).  The report went on to outline risks to the US such as spill-over from the Chinese real estate market (i.e. Evergrande defaults) and “structural vulnerabilities” caused by the emergence of stablecoins (tied directly to a fiat currency) and other digital currencies that are susceptible to major runs (huge swings).  In a related story, overnight, Bitcoin hit a new all-time high (over $68,300) but has backed off to $67,500 at this point.

After the close, IFF beat on both lines, PYPL and JKHY beat on earnings but missed on revenue, and TRIP missed on both lines.  So far this morning, BTNX, HAIN, IGT, and WRK have posted beats on both lines.  CAH, CANO, CCO, and SATS beat on revenue but missed on earnings.  On the other side, DHI, HUYA, IIVI, PRTY, SEAS, and WNC beat on earnings but missed on revenue.  Only MIDD has missed on both lines among major names.

Overnight, Asian markets were again mixed on mostly modest moves. Japan (-0.75%), Malaysia (-0.74%), and Singapore (-0.63%) paced losses.  However, Taiwan (+0.72%), Indonesia (+0.57%), and Shenzhen (+0.44%) paced the wider-spread, but more modest gains.  In Europe, stocks are leaning toward the green side on light moves at mid-day.  The FTSE (+0.12%), DAX (+0.27%), and CAC (+0.28%) are typical of the continent (with a few outliers in each direction beyond the typical) in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a flat open.  The DIA is implying a -0.06% open, the SPY implies a +0.03% open, and the QQQ implies a +0.17% open at this hour.

The major economic news scheduled for release on Tuesday is limited to Oct. PPI (8:30 am), EIA Short-Term Energy Outlook (noon), 10-year note auction (1 pm), and a pair of Fed speakers (Chair Powell at 9 am and Daly at 11:35 am).  Major earnings reports scheduled for the day include ADT, BNTX, CAH, CCO, DHI, IIVI, IGT, MLCO, MIDD, PRTY, SEAS, SYY, UWMC, and WNC before the open.  Then after the close, ADV, ASH, ELY, COIN, DAR, G, GO, JAZZ, LU, NGL, NIO, SCSC, SGMS, SWX, TTEC, VZIO, VRM, WES, and WYNN report.

Earnings and October PPI (which should be hot) should call the tune in early trading today. The other news that may change market sentiment is that Bloomberg reports that President Biden has been interviewing other people (notably Fed Member Brainard) for possible nomination as the next Fed Chair. General consensus is that Chair Powell remains the favorite and will be renominated. However, the interviewing of other candidates is not the norm when a sitting Chair is renominated. So, this might cause a small wave of concern in markets.

The trend remains extremely bullish, but the last couple of candles are showing either indecision or rest by the bulls. This can be a good thing for bulls because the over-extension was getting a bit much toward the end of last week. With that said, we have to remember that the market can remain very extended much longer than you can stay solvent while being right about a reversal too early. Long-term trading success has never come from betting on a reversal yet to come. The trend is our friend.

Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Watch your current positions before looking to add any new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: SKLZ, CHWY, CLF, ACB, FCX, MJ, BLNK, ATI. 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