Tuesday saw a small gap down on the prior evening miss by GOOG.  As you might expect, the QQQ took the biggest hit, but all indices were impacted.  After a morning rally trying to fade of the gap down, indices waffled most of the day.  The SPY and DIA ended flat (with larger upper wicks), but the QQQ printed an ugly black candle that faded about half of the Monday morning gap higher.  All in all, only the IWM continues to look like a nicely trending Bullish chart under the microscope.

Then after the bell Tuesday, CHRW, CXO, OKE, UNM, and VRSK all reported misses. Meanwhile, AMGN, CB, EA, FMC, MXIM, MDLZ, and SYK all reported beats.  It was also released after-hours that the Tuesday BA testimony in front of the US Senate disclosed that a Boeing Production Manager had tried to halt production until problems were addressed.  However, he was overruled by management, which led to the two crashes. These may all help move markets at the Open.

The Wednesday economic calendar includes ADP Payroll (8:15 am), Q3 GDP (8:30 am), Oil Inventories (10:30 am), but most importantly the FOMC Interest Rate Decision (2 pm) and FOMC Chair Press Conf. (2:30 pm).  Among the major companies reporting before the bell Wed. are ADP, BKR, CME, GE, HES, MAS, MCK, TAP, NI, RCL, SO, WCG, and YUM. (GE beat and raised guidance, while YUM and TAP both missed already this morning.)

Overnight, Asian markets were red.  In Europe, markets are mixed so far.  As of 7:30 am, U.S. futures were indicating a flat open with the DIA pointing up 0.1%, the SPY pointing down 0.05% and the QQQ pointing up 0.15%.

Earnings continue to be generally good, with some notable exceptions. However, it is the Fed that is likely to call the tune today, with markets fairly likely to continue assuming a rate cut while still waiting for the announcement to be sure.  So, don’t be surprised by lighter volumes and a more “wait and see” attitude in the market.  The trend continues to be in the bull’s favor.  However, be cautious, because the risk is on the side off Fed disappointment and there are major earnings reports still looming (like AAPL and FB after-hours Wed.).

Ed

Swing-Trade Trade ideas for your consideration. Long – COG, PM, AFL, UNH, TSM, PPG, AA, VMW, DE, JEC, JWN, KSS, CPRT. Short – KO, CINF, LMT, NOC, IBM. 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.

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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

Monday saw a strong gap higher as both T and WBA beat during the premarket and the attraction of all-time highs proved irresistible.  The President had also tweeted that Trade War Negotiations were ahead of schedule (whatever that means).  Regardless of the drivers, the SPY and QQQ both ended the day at new all-time high closes.  The IWM also broke out of its recent resistance level and the DIA lagged, staying within its two-week range despite the gap-up.

The Tuesday economic calendar includes Conf. Board Consumer Confidence and Sept. Pending Home Sales (both at 10 am).  The FOMC also begins its two-day meeting (with the market “pricing in” a rate cut on Wed.).  However, earnings are likely to steal the show again today, with GOOG (miss) and TMUS (beat) having reported after the bell Monday.  Among the pre-market reporters on Tuesday are COP, GLW, CMI, ETN, ECL, GM, IR, K, MLM, MRK, PFE, and XRX. (COP, MRK, PFE, and K all reported beats this am. GM missed and lowered on strike effects.)

Overnight, Asian markets were mixed, with China showing red.  In Europe, red was the color of the day across the board so far.  As of 7:30 am, U.S. futures were indicating a gap down of 0.1% in the DIA, 0.2% in the SPY and 0.3% in the QQQ.

With the Fed show back in town, reduced rhetoric on the China Trade War front and generally good earnings reports, the Bulls are feeling no pain. However, each of those 3 factors could be a double-edged sword. If the Fed doesn’t do as expected (or just says the wrong thing), or we have a new flare-up in US-China threats, or we catch a couple of missed earnings (or bad guidance) from major names…things could change in a heartbeat. Don’t be surprised by lighter volumes and a more “wait and see” attitude in the market Tuesday.  The bulls are running, but be cautious, and remember to take profits along the way.

Ed

Swing-Trade Trade ideas for your consideration. Long – PM, CNC, AFL, TSM, JBHT, PNC, DG, JEC, AMAT, BERY, JWN, KSS. Short – CINF, NOC, KO, CSX, TTWO, MDT. Trade smart, take profits along the way and trade your trade. 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

Overall, markets are giddy to be at or near the all-time highs again. However, there is also some fear from recent misses and uncertainty with the FOMC meeting just a couple of days ahead. Earnings and FOMC should be the lead stories with another heavy reporting list again this week and the Fed meeting on Tuesday and Wednesday.  On Monday, among the major names reporting before the Open are: T, CHKP, DTE, L, NLSN, and WBA.  The major economic news is limited to Sept. Trade Balance and Sept. Retail Inventories (both at 8:30 am).

Friday saw a rally with the QQQ closing at all-time highs and the SPY testing all-time high resistance.  The DIA and IWM both printed a Bullish Engulfing Signals, with the DAI bouncing up off the recent support level again and the IWM testing its resistance again as well.

The EU has decided on giving the UK a 3-month extension, (France folded from its support of Boris Johnson where they were pushing for an extension of only a few days.) However, as a middle-ground, Brexit can happen before January 31…if the UK can get their act together to be ready early.

Overnight, Asian and European markets were green and European markets are mixed, but mostly green.  As of 7:30 am, U.S. futures were indicating a gap up of 0.3% in the SPY, 0.5% in the QQQ and the DIA lagging with a gap-up of 0.2%.

Bulls are thrilled to be at the highs again.  However, with many more earnings and the FOMC still ahead of us, don’t be surprised by lighter volumes and we see a slow market Monday.  Be cautious, and remember to take profits along the way.

Ed

Trade ideas for your consideration. Long – KSS, HOME, PM, CNC, PNC, TSM, JBHT, AFL, COG, BERY, SNBR, JEC, JWN. Short – CINF, GD, KO, NOC. Trade smart, take profits along the way and trade your trade. 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

Thursday saw a gap-up in all 4 major indices, but that was met will an immediate sell-off the first hour across the board.  A couple more waves of rally and sell-off left us in the red in 3 of the 4 indices, with only the QQQ remaining positive by mid-afternoon.  However, the day ended on a 2-hour rally across the board.  For the day, we printed a Spinning Top in the SPY.  The DIA and IWM gave us Bearish Engulfing signals, while the QQQ printed a gap-up Hanging Man type candle.  In terms of Support and Resistance, the IWM failed its level again with the SPY, DIA and QQQ all remaining range-bound.

As expected, earnings continue to be the leading story.  The same should be true Friday, with a miss by AMZN and a beat by INTC after-hours Thursday.  Those reporting before the bell Friday include CHTR, ITW, PSX, VFC, VZ, and WY among the major names.  Major economic news for Friday is limited to Michigan Consumer Sentiment (10 am) and the Baker-Hughes Rig Count (1 pm).

There was no “new news” on the Brexit overnight. The EU is still deferring a decision on granting an extension until they see what happens next in the UK. Meanwhile, the UK Parliament won’t grant the PM’s desired new election until “No Deal” Brexit is taken off the table…which would mean an extension being in place. On the China Trade War front, no new news was reported last night.

Overnight, Asian and European markets were both mixed.  As of 7:30 am, U.S. futures were in the same shape with the DIA on the green side of flat, the SPY on the red side of flat and the QQQ indicating a gap down of 0.4%.

I know it is repetitive, but remember to be careful chasing.  If earnings remain strong, this should be a bullish market.  However, in recent months trading has been very news-driven.  So, be sure to use caution, take profits along the way and trade your plans. This is especially true on a Friday when there are 2.5 days of potential news ahead of us before we can respond in our trading.

Ed

Sorry, but no Trade ideas for Friday. Remember that it’s payday…time to pay yourself. Trade smart, take profits along the way and trade your trade. 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