Markets gapped higher at the open Thursday and then followed through strongly the first half-hour of the day.  Then we saw a very slow, steady rally into 2 pm before doing a very slow, steady selloff into the close.  This left us with strong, white, gap-up candles that left an upper wick in all 3 major indices.  On the day, SPY gained 1.21%, DIA gained 1.48%, and QQQ gained 0.92%.  The VXX fell over 6% to 25.37 and T2122 rose to just outside the overbought territory at 76.21.  10-year bond yields spiked to 1.427% and Oil (WTI) rose 1.4% to $73.24 even though the Dollar fell on the day.

During the day, the White House began alerting federal agencies to prepare for a government shutdown next Thursday night.  Democrats are scrambling to move ahead with a bill that links the budget (government shutdown) with increasing the debt ceiling (the next crisis).  Bloomberg reports that House Speaker Pelosi and Senate Majority Leader Schumer are now pointing to a showdown vote on Saturday.  If the vote fails, we can expect more machinations next week and a probable shutdown next Friday.  To this point, these issues have been ignored by markets, but with the weekend news cycle ahead, Fed meeting behind, and events drawing nearer, today may be a new story. 

After the close, the CDC endorsed the use of PFE booster shots for older and at-risk patients.  TRIP reported a missed on both lines last evening.  Meanwhile, NKE reported a miss on revenue, but COST managed a beat on both lines.  NKE is down 5% in premarket even as TRIP is down half of a percent and COST is up six-tenths of a percent this morning.

Overnight, Bitcoin and other major cryptocurrencies fell by more than 5%.  Ethereum, the second-largest crypto fell more than 8%. The moves come after China’s Central Bank posted a Q&A on its website that said all crypto-related activities are illegal and that there would be a harsh crackdown on that entire market.  This is not China’s first attack on the alternate currencies, but adding to the earlier moves against crypto mining along with the country’s trials of their own digital currency last year, some analysts believe this is the start of their move to force the use of only government-transparent digital currencies. This is a move likely to be followed by all major powers as governments do not want to give up control of and visibility to at least as much of all transactions as they have now. In other foreign political news, polls say Germany is poised to see a new ruling party after elections on Sunday. (The current CDU has been in power since 2005.)

Overnight, Asian markets were mixed.  Japan (+2.06%) and Taiwan (+1.07%) stood out on the upside while Hong Kong (-1.30%) and Shanghai (-0.81%) stood out to the downside.  In Europe, stocks are red across the board at mid-day. The FTSE (-0.20%), DAX (-0.72%), and CAC (-0.94%) are representative.  However, the much smaller exchanges are feeling the hit much harder.  Greece (-2.28%), Norway (-1.89%), and Finland (-1.56%) lead the pain parade in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a gap-down at the bell.  The DIA is implying a -0.38% open, the SPY implying a -0.50% open, and the QQQ implying a -0.67% open at this hour.  The Dollar is rebounding this morning as 10-year bond yields are at 1.417% and Oil (WTI) is down a third of a percent in early trading.

The major economic news scheduled for release on Friday is limited to August New Home Sales (10 am) and a trio of Fed speakers (Chairman Powell, Bowman, and Clarida all at 10 am).  The major earnings reports scheduled for the day are limited to CCL before the open.  There are no earnings reports scheduled for after the close.

A volatile week that started with a sizeable Evergrande gap-down and has proceeded with a whipsaw-filled recovery of that gap is now about to wind down. With more Fed speakers seeking to soothe markets on tap for today, but the prospect of a showdown vote over a government shutdown and debt ceiling coming this weekend…do not be surprised if we see a Mr. Market be manic again today. The short-term trend is now bullish, but we have yet to take out the downtrend that goes back to the beginning of the month, at least in the SPY and QQQ. So, the bulls still have serious work ahead if they want to overcome the pullback’s technical damage.

Manage your existing trades before you chase any new ones. Focus on the process and on managing the things you can control. Don’t worry about the things you can’t control. Remember that it’s discipline and good trading rules that separate trading success from failure over the long run. Above all, consistently take profits when you have them. A good trader refuses to let greed turn their winners into losers. Finally, it is Friday, so consider how you want your account sitting Monday morning, and don’t forget to pay yourself.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today. 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 four to six-tenths of a percent higher Wednesday as fears over the Chinese Evergrande debt crisis faded.  The bulls followed though all morning and then volatility set in during the afternoon after the Fed announcement and press conference.  This left us with gap-up indecisive Spinning Top candles in all 3 major indices.  On the day, SPY closed up 0.98%, DIA gained 0.99%, and QQQ gained 0.93%.  The VXX fell over 6% to 27.06 and T2122 rose a bit but remains in the mid-range at 68.70. 10-year bond yields fell to 1.307% and Oil (WTI) gained 2% to $71.95/barrel.

The FOMC held rates near zero as expected Wednesday afternoon.  Fed Chair Powell also said that the tapering of asset buying will come soon, which most analysts expect to mean the taper will start in November following an October announcement.  During questions, Powell implied the taper (any purchases) would come to an end in mid-2022.  The Fed now forecasts 5.9% GDP growth for the year (down from a 7% forecast in June) and 3.8% in 2022 (versus the June 3.3% estimate).  They expect inflation of 3.7% for the year (versus 3% previous estimate) and 2.3% for 2022 (compared to the June estimate of 2.1%). Powell also told reporters that the Fed is considering “whether to issue” their own cryptocurrency (and perhaps in a more telling follow-up answer “in what form that may be”). 

After the close, FB announced its Chief Technology Officer is stepping down.  In other evening news, Auto Industry consulting firm AlixPartners has raised its forecast of lost vehicle sales due to the global chip shortage.  The firm now estimates 7.7 million units of lost production for 2021 (up from 3.9 million in their May forecast), which would amount to $210 billion in lost revenue for the industry.  This will primarily be felt by US giants GM, F, and FCAU (Fiat, Chrysler, Dodge, and Jeep), because the Japanese auto industry had a normal practice of holding a year’s worth of supply inventory in their supply chain.  Now that the inventory has been used up, Japanese auto firms are hurting as well, but they postponed their pain far longer than US automakers.

The FDC is set to vote on PFE booster shots for “older and at-risk patients” today. In the meantime, Covid-19 surpassed the 1918 Spanish Flu as the deadliest pandemic in US history on Monday.  As of yesterday, the US has seen 43.4 million total cases and 699,748 total deaths in the country.  Meanwhile, the averages 130,121 new cases and 1,678 new deaths per day across America.  In related news, yesterday the President announced the US will buy another 500 million doses of the PFE vaccine to donate to poorer nations, raising the total US donation commitment to 1.1 billion doses.

Overnight, Asian markets were mostly higher as China pumped $17 billion of liquidity into their banking system and told local governments to “prepare for a storm and be ready to step-in (if needed) at the last minute” to prevent spill-over events from the Evergrande defaults.  Japan (-0.67%) and South Korea (-0.41%) were the only red in the region today.  India (+1.57%), Hong Kong (+1.19%), and Australia (+1.00%) were the leaders to the upside.  In Europe, markets are green across the board at mid-day. The FTSE (+0.05%) is the laggard after British PM Johnson failed to get the trade deal he had been promising prior to and shortly after Brexit.  However, the DAX (+0.76%) and CAC (+0.85%) are typical of the region, even though some of the smaller exchanges are up almost 1.5% in early afternoon trading.  As of 7:30 am, US Futures are pointing toward another gap higher.  The DIA is implying a +0.47% open, the SPY implying a +0.52% open, and the QQQ implying a +0.54% open.  10-year bond yields are flat with Oil down three-quarters of a percent even as the Dollar is down sharply in early trading.

The major economic news scheduled for release on Thursday is limited to Weekly Jobless Claims (8:30 am), Mfg. PMI and Services PMI (both at 9:45 am).  The major earnings scheduled for the day include CAN, DRI, and RAD before the open.  Then after the close, AIR, COST, NKE, and TCOM report.

As markets digest (second-guess) the Fed results and afternoon reaction and fear over the Chinese debt default from Evergrande fades, US stocks are looking to rally at the open again. The question is whether the overhead resistance created on the recent pullback will hold or if the bulls will have their way. Either way, volatility remains elevated, the short-term trend remains bearish, and the next news story will be the success or failure of both the US Debt Ceiling raise and passing a budget to allow continuing government operations after September. It now appears any bipartisan efforts have failed, which leaves open the question of whether Democrats can come together enough to ram-through one-party solutions to those problems.

Remember, the trend is your friend until it ends. Right now, that trend remains bearish with a lot of volatility. So, manage your existing trades before you chase any new ones. Focus on the process and on managing the things you can control. Don’t worry about the things you can’t control. Discipline and good trading rules are what separates trading success from failure over the long run. Above all, consistently take profits when you have them. A good trader refuses to let greed turn their winners into losers.

Ed

Swing Trade Ideas for your consideration and watchlist: PLUG, FCEL, BB, NET, PLTR. 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 about six-tenths of a percent higher at the open Tuesday as markets tried to recover from the ugly Monday session.  However, volatility continued to reign as prices swung in waves all day.  Unfortunately for bulls, the last two major waves of the day were to the downside.  This left us with black-body candles with upper wicks that went out on or near the lows in all 3 major indices.  On the day, SPY lost 0.10%, DIA lost 0.09%, and QQQ gained 0.12%.  The VXX fell to 28.70 and T2122 popped back out of the oversold territory to 28.37.  10-year bond yields rose to 1.323% and Oil (WTI) rose slightly to $70.51/barrel.

After the close, a US government agency, headed by Attorney General Garland, reported it will be “reviewing” the proposed ZM acquisition of FIVN (announced in July). In the announcement, the agency pointed to foreign participation (ZM has R&D operations in China and FIVN has operations in Russia). 

Elsewhere after hours, FDX shares fell as the company missed on earnings and cut its Q4 profit forecast as cost increases are expected to outpace their recently announced price increase.  In addition, DIS shares fell hard when CEO Chapek told a GS event that his company believes the Delta variant will cause Q4 subscription growth to come in below previous estimates.  On the other side, SFIX shares jumped after the company unexpectedly reported a profit while beating on both lines.  ADBE also rose after beating on both lines.

Following very strong Housing starts data yesterday, this morning’s weekly mortgage demand spiked to the highest level since April.  Analysts say this points to strong home sales for September.  The average 30-year fixed, conforming loan rate remains at 3.03%. However, new purchase loan applications rose 2%, but refinance applications climbed 7% week-on-week.  While mortgage demand remains below the same week a year ago, the gap is narrowing.

Overnight, Asian markets were mostly modestly lower.  An IMF spokesman said they do not expect the Evergrande crisis to be a “Chinese Lehman Brothers moment.” She said the differences include the company owning physical assets (properties) and the Chinese government has much stronger controls over their financial markets and is in a better fiscal position to simply take ownership of the debt and assets if needed than the US/West did in 2008.  Taiwan (-2.03%) was the outlier because after a drop at the open, Shanghai (+0.40%) recovered fully and both Shenzhen (-0.57%) and Japan (-0.67%) made significant comebacks.  In Europe, markets are up significantly at mid-day, bouncing as they have seen a lack of panic in Chinese markets.  The FTSE (+1.15%), DAX (+0.55%), and CAC (+1.11%) are typical of the region in early afternoon trading.  As of 7:30 am, US Futures are also pointing to another up open.  The DIA is implying a +0.58% open, the SPY implying a +0.51% open, and QQQ implying a +0.30% open.

The major economic news scheduled for release on Wednesday includes August Existing Home Sales (10 am), Crude Oil Inventories (10:30 am), and Fed Interest Rate Projections, Fed Interest Rate Decision, and FOMC statement (all at 2 pm), and the Fed Chair presser (2:30 pm).  The major earnings scheduled for the day include GIS before the open.  Then after the close, FUL, KBH, and SCS report.

With the rest of the world rebounding as the Evergrande debt crisis in China did not look so scary today, US markets are likely to wait and see what the Fed does/says before making big bets. The ugly day Monday and volatility then and Tuesday should give us pause about any further pullback or reversal into rally mode. We have resistance overhead and some support below. So, consider how much confirmation you want before blindly chasing an intraday trend.

Remember, you don’t have to trade every day. Activity does not equal progress. And when you do trade, the Trend is your friend. Right now, that trend remains bearish with a lot of volatility. So, manage your existing trades before you chase any new ones. Focus on the process and on managing the things you can control. Don’t worry about the things you can’t control. Discipline and good trading rules are what separates trading success from failure over the long run. Above all, consistently take profits when you have them. A good trader refuses to let greed turn their winners into losers.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today. 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

Stop me if you’ve heard this one before.  So, China caught a virus and the US got sick.  Ba-dum-dum.  In this case, China’s virus is the Evergrande fund’s $300 billion loan default, and “the US” refers to US markets. At any rate, US markets started the week with a big gap down and then put in a wide-ranging, indecisive Spinning Top candle day in all 3 major indices.  On the day, SPY lost 1.66%, DIA lost 1.80%, and QQQ lost 2.17%.  That made Monday the worst day since May.  However, for context, it’s important to remember that we are still just 4-6% off the all-time high in the various indices.  The VXX rose almost 11% to 29.74 and T2122 dropped deep into the oversold territory at 3.54.  10-year bond yields fell to 1.311% and Oil (WTI) dropped 1.56% to $70.85/barrel.

Afterhours, RDS.A announced a deal to sell the entirety of its Permian Basin assets (operations and drilling rights) to COP.  The deal was for $9.5 billion and includes current production of 175,000 barrels per day.  This deal ends Shell’s US onshore production operations, but RDS.A will continue to operate their production offshore from Texas. 

On Monday, Covid-19 surpassed the 1918 Spanish Flu as the deadliest pandemic in US history.  There have been 43.1 million total cases and 694,619 total deaths in the country.  Meanwhile, the averages 133,979 new cases and 1,623 new deaths per day across America.  In related news, this morning JNJ (whose top vaccine selling point was a single dose) says that the vaccine is 94% effective when a booster dose is given two months after the original dose.

Overnight, Asian markets were mixed, but mostly green.  Japan (-2.17%) was a huge e outlier as fear from the Evergrande debt crisis impacting Japanese firms gripped the Nikkei.  However, the region’s few other losses were very minor.  Meanwhile, India (+0.95%), Thailand (+0.74%), Shenzhen (+0.71%), and Singapore (+0.71%) led the gainers.  In Europe, we see green across the board at mid-day.  The FTSE (+1.14%), DAX (+1.53%), and CAC (+1.37%) are typical as the continent rebounds from the initial Evergrande shock.  As of 7:45 am, US Futures are pointing toward a gap higher at the bell.  The DIA is implying a +0.83% open, the SPY implying a +0.77% open, and the QQQ implying a +0.75% open.  10-year bond yields and Oil are also rebounding in early trade as the Dollar is just on the red side of flat so far this morning. 

The only major economic news scheduled for release on Tuesday are August Building Permits, Q2 Current Accounts, and August Housing Starts (all at 8:30 am).  The major earnings scheduled for the day include AZO and CBRL before the open.  Then after the close, ADBE, FDX, and SFIX report.

Markets are trying to rebound after the ugly Monday session. However, a lot of technical damage was done and the whipsaw is in effect both intraday and interday. Be careful not to get caught in that whiplash. Also, with the Fed Meeting starting today, it would not be surprising for markets to start drifting until the FOMC shows its next card Wednesday afternoon. So, be ready for a dead drift sideways if it comes.

Keep in mind that you don’t have to trade every day. And when you do trade, the Trend is your friend. Right now, that trend is bearish. So, manage your existing trades before you chase any new ones. Focus on the process and on managing the things you can control. Don’t worry about the things you can’t control. Discipline and good trading rules are what separates trading success from failure over the long run. Above all, consistently take profits when you have them. A good trader refuses to let greed turn their winners into losers.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today. 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

On Thursday, August Retail Sales came in much, much hotter than expected (+0.7% vs. -0.8% expected) and Jobless Claims came in slightly higher than expected (332k vs 330k) in the first week since extended unemployment expired.  As a result, large caps opened flat while the QQQ gapped down about three-tenths of a percent.  At that point, all 3 sold off for half an hour before starting a slow rally that lasted into the last hour.  However, they then backed off the highs a bit.  This left us with indecisive Doji or Spinning Top candles in all 3 major indices that continue to have trouble breaking through the T-line resistance.  On the day, SPY lost 0.17%, DIA lost 0.18%, and QQQ gained 0.07%.  The VXX rose slightly to 25.15 and T2122 remains in the mid-range at 48.07.  10-year bond yields rose to 1.338% and Oil (WTI) was flat at $72.60 despite a spike in the Dollar (up three-tenths of a percent against other major currencies).

Overnight, Asian markets were mixed but leaned to the green side.  New Zealand (+1.18%) and Hong Kong (+1.03%) were the standout movers to the upside and Australia (-0.76%) was by far the biggest loser on the day.  In Europe, markets are mixed, but mostly lower on modest moves at mid-day.  The FTSE (-0.12%), DAX (-0.26%), and CAC (-0.17%) are typical for the continent in early afternoon trade.  As of 7:30 am, US Futures are pointing toward a modestly lower open.  The DIA is implying a -0.18% open, the SPY implying a -0.25% open, and the QQQ implying a -0.28% open at this hour.  The Dollar is also down a bit with 10-year bond yields up to 1.343% and Oil down half of a percent in early trading. 

The only major economic news scheduled for release on Friday is Michigan Consumer Sentiment at 10 am.  There are no major earnings scheduled for the day.

This afternoon, the FDA Vaccine Advisory panel is meeting to debate and vote on whether to recommend PFE and MRNA booster shots for the general public.  There seems to be a debate amongst the panel on whether there is enough scientific evidence that the booster provides enough additional protection to outweigh the use of all production capacity and vaccine doses for initial vaccinations.  Of course, this has to be weighed against the hesitancy and lack of compliance among the remaining unvaccinated.  Either way, the panel votes, PFE and MRNA (and later JNJ) are all likely to be unaffected.  Their vaccine capacity will be used somewhere at roughly the same profit margin. However, future case surge numbers and economic impacts may be influenced by the decision  

Markets have seemed to consolidate this week, even with intraday volatility with the major indices stuck between resistance overhead and support below. However, the short-term bearish trend remains in place. It appears the fear of reduced economic growth (nationally and globally) remains the dominant driver in the market at the moment. This is interesting since BAC reports that money is piling into stocks at the fastest pace in over a year. BAC said that over $62 billion came out of money-market funds in the first 3 days of this week, with $51 billion of that going into stocks and most of the remainder going into bonds. With all this said, all eyes are looking ahead to the Fed meeting next week for the next clue. So, be careful making bets today.

Remember this is Friday. So, prepare yourself for the weekend news cycle and the likelihood of doldrums heading into the Fed meeting next week. Keep in mind that you don’t have to trade every day. And when you do trade, the Trend is your friend. Manage your existing trades before you chase any new ones. Focus on the process and on managing the things you can control. Don’t worry about the things you can’t control. Discipline and good trading rules are what separates trading success from failure over the long run. Above all, consistently take profits when you have them. A good trader refuses to let greed turn their winners into losers.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today. 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