More China Trade War news drove markets Friday as pre-market stories indicated that there was “fierce opposition” in the White House to rolling back tariffs as part of any phase one deal.  This caused a gap lower in the SPY, QQQ and IWM.  However, this gap was quickly faded…until President Trump told reporters he had not agreed to rollback tariffs (as his Senior Economic Advisor Larry Kudlow had told Bloomberg on Thursday was agreed with China). 

The President’s comments sparked another mid-morning selloff.  However, the rest of the day the bulls slowly regained momentum, driving prices higher right into the close.  The day finished with another new all-time high close in the SPY, DIA, and QQQ. Even the IWM closed with a nice white candle back in its recent range.

There is no US economic news on tap for Monday (or Tuesday) due to the Veterans Day holiday.  In addition, the only earnings report of note Monday is HPE.  However, there is some International news.  The UK (5^th largest economy in the world), reported a shrinking GDP and Germany (4^th largest) is expected to do the same on Thursday.  This would put two of the largest economies in the world (and the two largest in Europe) into recession.

Meanwhile, in China, the BABA “Singles Day” sale has sold over $31bil in merchandise (and climbing) in its one-day sale.  At the same time, the unrest in Hong Kong has escalated again with Police shooting at least two people, causing a flash mob that shut down downtown traffic.  Another man (who apparently opposed the mob) was set on fire and those three are among 60 casualties today.

Overnight, Asian markets were all in the red, on Hong Kong unrest and US-China Trade fears.  In Europe, markets are also in the red on the UK recession and Global trade fear.  As of 7:30 am, U.S. futures were on-track for a half percent gap lower across the board.

With the vast majority of earnings behind us, fear of global recession, twists in the China Trade War and (Impeachment-related or meant to distract from the Impeachment) political news are likely to drive news cycles and markets again this week.  Remember to be cautious and continue to take profits and move stops.

Ed

Swing-Trade Trade ideas for your consideration. Long – KHC, GPC, PSX, K, MAS, PCAR, AMD, VLO, AMP, IR, CE, ROL, UTX, STI, MS, OLLI. Short – EFX, ETR, KO, MLM, HSY, SBUX, DG. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

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🎯 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.

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

China deal optimism led Markets to gap higher Thursday.  However, there was no follow-through as the sideways grind set in for the rest of the morning.  Then about 2:30 pm, rumors had the White House pushing back against tariff reductions.  Markets sold off on this report.  The selloff subsided at the end of the day as markets ended in the green, but printing Shooting Star type candles in the SPY, DIA and QQQ, while the IWM had sold off all day printing an ugly black candle.

After-hours, ATVI, BIDU, BKNG, MTD, MNST, NLOK, DIS reported beats.  Meanwhile, AMCR, MATX, NWS, and TTWO reported misses.  However, after-hours Larry Kudlow (Dir. of the Council of Economic Advisors to the President) told Bloomberg that afternoon rumors were false and that if a first-phase trade deal is signed with China, it will indeed include the tariff reductions China was insisting upon.  Unfortunately, later more reports of opposition to tariff rollbacks came.  Obviously, the administration has two splinter groups at odds over this issue.

Friday’s economic calendar is limited to Michigan Consumer Sentiment (10 am).  In addition, earnings will hold little sway as only AEE and DUK report before the bell.

Overnight, Asian markets were mixed, but mostly in the red.  In Europe, markets are also mixed at this point, with the FTSE and DAX red and the CAC and others in the green.  As of 7:30 am, U.S. futures were on the green side of flat.

With the bulk of earnings and the Fed direction out of the way, it seems the China Trade War is the big story driving market moves.  However, it sure seems that two competing groups inside the Trump Administration are using leaks (and stock Market gyrations) to gain points in their fight.  So, beware of chasing any such news.  It may well be countered in short order.  Remember to be cautious and continue to take profits and move stops.  We have a long weekend news cycle ahead and no chance to trade against that news before the Open Monday.

Ed

Normally, we don’t put out trade ideas on Friday. However, with two groups in the trading room, I’ll make an exception. Swing-Trade Trade ideas for your consideration. Long – AIZ, MAS, K, CMI, AMD, PCAR, STX, SYY, CELG, VLO, ROL, CTXS, OLLI. Short – EFX, KO, CF, MLM, F, SBUX, STZ, WEC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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.

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 continued to rest Wednesday, after a mid-day scare as it was announced that the supposed November signing of a phase-one partial trade deal with China has slipped until December (maybe) and would be signed some (undetermined) place in Europe.  (This follows on the previous day’s reports that China is pushing for tariff roll-backs, not just the lack of new tariffs, before they sign a phase-one deal.)  That revelation caused a temporary drop in markets at 11:45 am, but we recovered by day end.

After-hours, ANSS, ATO, DVN, FISV, FLT, FOXA, HOLX, MRO, NKTR, and QCOM all reported beats.  Meanwhile, ALB, CTL, EOG, EVRG, EXPE, TRIP, and WYNN reported misses.  However, last night’s big news was an Official Chinese announcement that they have agreed with the US to simultaneously remove existing tariffs in phases and that this had been a stumbling block to the phase-one partial deal.  Futures soared on this official report.

Thursday’s economic calendar is limited to Jobless Claims (8:30 am) and a couple more Fed speakers.  However, again earnings will likely have the most sway again as APD, ABC, CAH, CNP, DISCA, HII, JCI, NRG, NLCN, NBL, NCLH, PNW, RL, WRK, and ZTS are among those reporting before the bell.

Overnight, Asian markets were all in the green.  In Europe, markets are mostly green at this point.  As of 7:30 am, U.S. futures were green, looking for about 0.40%-0.50%. Again, trade deal optimism has spread fast.

While we’ve rested after the break to new highs, China trade deal optimism is likely to put new energy into the bulls.  Just bear in mind that earnings have been mixed the last couple days and reports say that on average future earnings forecasts have reached the lowest level of growth in years with an expected increase of +1% for next quarter.  In addition, there may well be more twists in the Trade Deal story and we still have some earnings left that may dampen moods.  So, remember to be cautious and continue to take profits and move stops.

Ed

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, SNA, K, MHK, CMI, PCAR, STX, VLO, ALK, ROL, KSU, KEY, OLLI. Short – EFX, MLM, LMT, NOC, VMC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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.

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

Traders seemed to love the trade news ahead of Tuesday’s market hours.  President Xi Jinping had said China will work to lower tariffs and stabilize international trade.  As a result, markets gapped mildly higher at the Open.  However, from there it was an indecisive day ending in some form of Doji across all major US indices. The trading at the all-time highs is not a bad sign. Markets are extended and need a rest or pullback. At this point, we are seeing more indecision then signs of a sell-off.

During the day Tuesday WBA soared again (as it had the prior 2 days), but then crashed back at day end.  This on news of the company investigating taking itself private.  (Based on the prior two days of gains, it makes you wonder if someone perhaps leaked that news to friends/family who tried to cash-in.)  After-hours, AIZ, DVA, DVN and ES all reported beats.  Meanwhile, FANG, HST, and MCHP reported misses.

Wednesday’s economic calendar is limited to Crude Oil Inventories (10:30 am) and a couple more Fed speakers in the afternoon.  However, again earnings will likely have the most sway again as BR, CBRE, CVS, CPRI, COTY, HUM, SEE, AES, VMC, and WEC are among those reporting before the bell. Also, of note is that homebuilder TMHC has reached an agreement to buy its smaller competitor WLH and CNBC is reporting XRX will make an offer to buy HPQ.

Tuesday’s economic calendar includes Sept. Trade Balance (8:30 am), Service PMI (9:45 am), ISM Non-Mfg. PMI and JOLTS (both at 10 am) and a couple of FOMC speakers in the afternoon.  However, earnings are likely to drive markets again as AGN, ARNC, BDX, EMR, EXPD, FIS, HSIC, MYL, NEM, PPL, REGN, TPR, and ZBH all report before the Open.

Overnight, Asian markets were green.  In Europe, markets are mixed, but mostly green at this point.  As of 7:30 am, U.S. futures were just on the green side of flat.

Again, markets are a bit extended at this point and showing signs of indecision at the all-time highs. However, this is constructive (as compared to a raging bull run that often leads to a collapse). Don’t be too surprised if we drift sideways a bit or even pullback to retest the breakout level before any climb resumes.

Ed

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, SNA, K, MHK, CMI, PCAR, STX, VLO, ALK, ROL, KSU, KEY, OLLI. Short – EFX, MLM, LMT, NOC, VMC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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.

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 bulls continued to run causing a gap-up at the Open Monday.  However, after the gap higher, there was a lot of volatility with all major indices ending with black candles and either indecisive or having faded the gap to some extent.  Still, this leaves the SPY, DIA, and QQQ at new all-time high closes and IWM higher in its trend.  Just beware that gap-up Doji (DIA and QQQ) are not ideal and can presage a pullback. So nerves are a real thing up here at the all-time highs.

Earnings after-hours on Monday were mixed but leaned to the bad side.  XEC, ED, IFF, MAR, MOS, and OXY all reported misses.  However, HIG, JKHY, PXD, and PRU reported beats, although 3 of these also reported revenue misses. 

Meanwhile, on the China Trade War front, news outlets are now reporting that China is pressing the White House to not only forego the threatened December tariffs, but also reduce the existing tariffs on Chinese goods as part of any Phase One deal. My take-away is that the “Phase One” partial agreement is not a done deal yet (as had been suggested). However, President Xi Jinping also made a speech promising that China will continue to lower tariffs and work to stabilize international trade.

In other International News, OPEC announced that it forecasts demand for oil to fall 7% over the next four years. This is based on their assumption that there will be a flood of US Shale Oil on the market as environmental concern regulation continues to be eased in America.

Tuesday’s economic calendar includes Sept. Trade Balance (8:30 am), Service PMI (9:45 am), ISM Non-Mfg. PMI and JOLTS (both at 10 am) and a couple of FOMC speakers in the afternoon.  However, earnings are likely to drive markets again as AGN, ARNC, BDX, EMR, EXPD, FIS, HSIC, MYL, NEM, PPL, REGN, TPR, and ZBH all report before the Open.

Overnight, Asian markets were green.  In Europe, markets are also mostly bullish at this point.  As of 7:30 am, U.S. futures were green across the board, looking for gap-ups of between 0.2% and 0.5%.

It certainly appears the bulls want to continue their run. However, the tepid post-gap candles Monday suggest it is not a run-away stampede for the bulls. With more China Trade War twists, as well as more earnings ahead, remember to be cautious and continue to take profits and move stops.

Ed

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, MPC, XRX, VLO, LUV, ROL, JPM, KSU, PPG, AA, OLLI. Short – MLM, CINF, LMT, NOC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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.

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