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Post Trade Analysis

October 11, 2019 by Ed Carter

Trading Rules

October 11, 2019 by Ed Carter

Markets had a strong day Thursday, almost exclusively on “hope” of a partial trade deal between the US and China. The indices closed up two-thirds of a percent, right at the 50sma in the SPY and DIA. Still, both the SPY and IWM both failed the downtrend line and that trend remains intact in all (arguably) indices except the QQQ (which broke through on Thursday).

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Friday’s economic calendar includes the Michigan Consumer Sentiment survey at 10 am. However, given all the focus for months on the Trade War, the big market mover will be the rumors, announcements, and spin placed on the meeting between President Trump and the Chinese Vice Premier. Also keep an eye on Oil markets as Iran claims one of their tankers in the Red Sea was struck by 2 missles last night. The only earnings of note is for FAST before the bell.

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Overnight, Asian and European markets were up strongly (apparently also on Trump’s tweet that trade negotiations were going “very, very well”). And as of 7:30 am, U.S. futures are all pointing to a large gap higher (about 1.25% across the board) on that optimism for a Friday trade deal.

The bottom line remains that it is very hard to swing trade in the recent markets successfully. Day or Position trading look much better in this sort of volatile and choppy market. Until we start getting less “gaps and whiplash” and more “trend and follow-through” be very cautious. Do not confuse one candle as trading wisdom…or a new trend. That all said, downtrend remains in control for now.

For Your Consideration: No trade ideas for Friday. Remember to lock-in profits while you can, and hedge your risks for the weekend when you can’t react to news and rumors. Trade smart, and trade your trade. 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.

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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

Trading EMAs

October 10, 2019 by Ed Carter

Waiting on an Elusive Deal

October 10, 2019 by Rick Saddler

Markets gapped higher Wednesday on anonymous reports the Chinese are open to a partial trade deal – grain purchases for tariff suspension. While the gap was impressive, the day ended as nothing but a Doji (indecisive), if up almost 1% on the S&P and QQQ. So, the downtrend remains in place and taken together, the last two days are just more of the sideways chop at the level of the large gap down Open Tuesday.

On today’s economic calendar we see Consumer Inflation at 8:30am. However, the big news is the resumption of US-China Trade talks. Unfortunately, overnight the Chinese media was reporting “trade talks have made no progress” and “high-level talks will only last one day” (instead of two as was planned).

Overnight, Asian and European markets were all mixed (on dueling rumors and expectations about the now-shortened trade meeting). And as of 7:30 am, U.S. futures were all pointing to a small open lower (about 0.2 – 0.3%) on the overnight news of trade deal failings.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short – FSLR, WES, LSCC, LDOS, RDUS, KLAC, EL Long – DOCU, CX, EQR, SYY, AMH, ES, COST, CYH Trade smart, and trade your trade. 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

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

Single Candle Signals

October 9, 2019 by Ed Carter

Dueling Rumors and Spin

October 9, 2019 by Rick Saddler

Markets gapped lower again Tuesday, attempted to rally again (on Fed Chair Powell’s afternoon statement that he sees the Fed balance sheet expanding again soon), but then sold off hard the last hour of the day, closing near the lows. So, the Dreaded-h pattern is now near breakout in all major indices.

Overnight, Asian markets were on the red side of flat, but European markets are all strongly in the green. As of 7:30 am, U.S. futures were pointing to a large gap up (about 1%) on overnight reports that China is open to a partial trade deal. (Just bear in mind the market whip on these same rumors the last few days that were always countered with a rumor in the opposite direction…and China has promised a counter move to the most recent U.S. blacklist / Visa sanctions.)

On today’s economic calendar we see JOLTS at 10am, Oil Inventories at 10:30, Chair Powell speaks again at 11am and the Sept. FOMC minutes come out at 2pm. Also, the Impeachment news cycle will surely keep churning and beware of that Chinese retaliation for the blacklist and putting restrictions on Chinese officials and executive’s travel visas. Finally, Turkey continues to move troops right to the border of Syria. So, news of that situation may also drive markets.

The bottom line remains to be cautious, very quick in your trading time horizon or both. Gaps and whiplash are not good conditions for swing trading. So, be careful chasing one nice (or ugly) candle. However, the downtrend remains in control for now.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short – TSN, LSCC, SYF, LDOS, KLAC, MDT, EL Long – DOCU, UDR, EQR, CYH, KBH, AMH, CX, DHI Trade smart, and trade your trade. 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

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.