Stocks began Thursday with a modest gap higher that was met with an immediate selloff back below the prior close.  That started a rollercoaster day that ended up not far from where it began as all 3 major indices printed gap-up, indecisive candles.  On the day, SPY was up 0.22%, QQQ down 0.31%, and DIA up 0.59%.  The gain left the SPY at another all-time high close.  The VXX gained a bit back up to 25.70 and T2122 climbed a bit to 67.72 (still in the mid-range).  10-year bond yields rose strongly to 0.746% as buyers sought safety in bonds.  Oil (WTI) fell almost a percent to $43.00/barrel.

As expected, prior to the open Fed Chair Powell announced that the FOMC will now use an “Average Inflation Target.”  This means the Fed will let inflation run well past the 2% target without action until full employment is achieved.  He also implied that the FOMC will let unemployment run below its target before taking action on inflation.  This set of announcements did have an immediate impact on bond yields and helped bank stocks as investors started to expect inflation.

At the close, House Speaker Pelosi announced she had held a 25-minute call with White House Chief of Staff Meadows.  However, she also said no progress was made and there remains a “tragic impasse” between the two sides.  Political blame games followed from both parties.  This comes as leaks are suggesting the Senate Republicans are trying to agree amongst themselves on a “mini stimulus” bill that is only half the size of their August proposed $1 billion negotiating position.  Just as the Senate Republicans had said the Democrat plan from May was a non-starter and would not even be considered, the Democrats in the House are likely to do the same with a Republican mini bill…assuming the Republicans can agree to it among themselves.  Again, just political posturing on both sides here.

On the virus front, in the US, the numbers show we now have 6,048,404 confirmed cases and 184,834 deaths.  New cases edged up again Thursday to 46,286 (above the 7-day average again) and new deaths fell back to 1,143 for the day (also still above the 7-day average).  Meanwhile, airlines continue to threaten layoffs with AAL saying they will cut 40,000 jobs (mostly from buyouts and early retirements) and now UAL saying they will cut 3,000 pilots, both to take place at the end of Federal-aid…unless they get another $25 billion in aid as an industry.

Globally, the numbers rose to 24,661,422 confirmed cases and 836,338 deaths. In Europe, Germany is introducing tougher virus control measures as cases continue to rise.  This includes fines for not wearing a mask in any public space, bans on large gatherings, required isolation after returning from high-risk areas.  On the vaccine front, both Japan and Germany announced they are working on contracts to secure enough multi-dose vaccines for all their citizens by mid-2021.  Speaking of Japan, PM Abe resigned last night due to unspecified health concerns of his own.

Overnight, Asian markets were mixed again.  China led the gainers adding between 1.5% and 2%.  Meanwhile, Japan and Australian paced the losers down about 1%. Europe is also mixed so far today, but leans to the red side.  The biggest gainer is Belgium (+0.37%) while the biggest loser is Sweden (-1.00%).  The 3 major European bourses are all just on either side of flat.  In the US, at 7:30 am, the futures are pointing to a modestly higher open in the large-caps and a dead-flat open in the QQQ.

The major economic news for Friday includes July Personal Consumption, July Trade Balance, July Personal Spending, July Retail Inventories (all at 8:30 am), Chicago PMI (9:45 am), Michigan Consumer Sentiment (10 am), and the virtual Jackson Hole Central Banker Symposium continues. Major earnings reports are limited to BIG before the open.  There are no major reports after the close.

The rally continues to be strong and extended (from averages), but the bears have shown no sign of having the energy to step in for quite some time.  The wait for the political conventions to be over is done and the question is whether the market will now wait until after Labor Day to return or maybe come back next week.   Just remember we have had a couple of gap-up indecisive candles in a row now.  So, use a little extra caution about getting “too long” into the weekend. 

With that said, despite some extension, the trend remains bullish any which way you look at the chart.  So, don’t go predicting a reversal to the downside either.  Follow the trend and don’t chase moves you have missed.  Stick to your rules, process, and work to consistently lock-in your profits and reduce risk.  Also, don’t forget to take some off the table today…Friday is payday after all.

Ed

The Daily Swing Trade Ideas for today: CCL, CPRI, FSM, FCX, PVH, BSX, ALLY, NOC. 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 bulls ran wild on Wednesday as the massive tech names (CRM, NFLX, FB, TSLA, etc.) pulled the SPY and QQQ to yet another all-time high close.  Larger than expected July Durable Goods orders also helped.  While the QQQ candle looks a lot like a blow-off top, it did this on only average volume.  Regardless, on the day, the QQQ gained 2.13%, SPY gained 1.00%, and DIA gained 0.29%.  Contrary to the large-caps, the IWM lost 0.63%.  The VXX also gained to 24.93 and T2122 fell dramatically to the mid-range at 57.06.  10-year bond yields rose slightly to 0.688% and Oil (WTI) was flat at $43.42/barrel.

Overnight hurricane Laura began pounding the state of LA with sustained 150mph winds and a 20-foot storm surge.  While it was a Category 4 when it hit, 4 hours after making landfall the storm has now been downgraded to a Category 2 (110mph winds).  Forecasters say they are expecting a 15-foot storm surge to make it 30 miles inland.  Widespread and extensive economic damage is expected as the area hit is filled with Oil, Gas and Chemical plant and infrastructure. And with so many dangerous substances in this path, the potential for significant environmental damage is also in play.

That said, all eyes in the market are on the Jackson Hole Virtual Central Banker Symposium where Fed Chair Powell speaks at 9:10am.  Leaks have been reported the last couple days forewarning us that he will announce a dramatic shift in FOMC policy. This shift will let inflation significantly overshoot the 2% target without action until the goal of full employment is met.  (This would overturn policy dating back to the start of the Reagan Administration and then-Fed Chair Paul Volcker.)  However, the market is also expecting the announcement of specific programs under this new policy (for being capitalist markets, we sure do love our government handout money). So as always, it won’t be the general news, but the specifics and the reaction that matters in the market.

On the virus front, in the US, the numbers show we now have 6,001,103 confirmed cases and 183,667 deaths.  New cases edged up Wednesday to 44,6637 and new deaths remained just under 1,300 for the day.  However, the 7-day averages have come down a touch to 42,658 and 966 per day.  ABT won emergency approval for a cheap ($5) and fast (15 min.) virus test.  Since granted approved, the test will start shipping in later September with full production levels reached in October.  In HI, a 2-week “stay at home” order has been issued on the island of Oahu, effective today.

Globally, the numbers rose to 24,364,884 confirmed cases and 830,360 deaths.  South Korea reported the highest number of new cases since March.  However, it was the surge to almost 76,000 new cases on the day in India that was most alarming.  Still, remember this number must be weighed against both testing and reporting that most expect dramatically under-reporting and the fact that India has over 1.3 billion people. 

Overnight, Asian markets were mixed, but leaned modestly higher.  South Korea Hong Kong and Singapore led to the downside, while Shenzhen was the only major gainer.  The remaining markets were mostly green, but only modestly so.  However, European markets are modestly red across the board while waiting on J. Powell’s speech.  The 3 major bourses show FTSE -0.18%, DAX -0.31%, and CAC -0.46% as of mid-day.  In the US, at 7:30 am, the futures are pointing to a mildly down open across the board.  However, again this is just a placeholder until Powell’s speech and perhaps the Q2 GDP read. 

The major economic news for Thursday is limited to Preliminary Q2 GDP and Initial Jobless Claims (both at 8:30 am), Fed Chair Powell’s Jackson Hole speech (9:10 am), and July Pending Home Sales (10 am).  Major earnings reports include ANF, BURL, CM, COTY, DG, DLTR, and TD all before the open.  Then after the close DELL, GPS, HPQ, ULTA, VMW, and WDAY report.

The rally really kicked into overdrive Wednesday but did so on only average volume.  This lower volume might be a good thing, in that it may mean the exuberance is not completely widespread (meaning we may not be seeing a blowoff top).  Regardless, it is clear markets are extended from the T-line 17ema or whatever other averages you follow.  So, use a little extra caution about getting “too long.”

With that said, the trend still remains strongly bullish.  So, despite some extension, don’t go predicting a reversal to the downside either.  (We have to remember that markets can stay “wrong” a lot longer than we can stay solvent being right too early.)  Follow the trend and don’t chase moves you have missed.  Above all, remember, trading is a job.  We must obey our rules, stick to the process, and work to be consistently profitable.

Ed

The Daily Swing Trade Ideas for today: FCX, VIAC, EBAY, MDLZ, STZ, KO, ADI, GLW, PLNT. 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 Tuesday on hope of more help from the Fed (spurred by leaks about the content of FOMC Chair Powell’s Thursday speech).  However, the DIA sold off both strongly and immediately on its overnight reshuffle that saw XOM, PFE, and RTX replaced in the Dow 30.  The other major indices faired better grinding sideways until the bulls stepped in late in mid-day to rally all the way into the close.  On the day, DIA lost 0.20%, SPY gained 0.36% (closing at a new all-time high), and QQQ gained 0.79% (also closing at an another all-time high).  The VXX lost a touch to 24.39 and T2122 remains just outside of overbought territory at 77.69.  10-year bond yields were up strongly to 0.687% while Oil (WTI) also gained to $43.35/barrel.

Kansas City Fed President George told CNBC she has concerns about a double-dip recession if there is a virus resurgence.  She also expressed skepticism of Fed Chair Powell’s expected Thursday policy change announcement that will allow inflation to “run hot” (overshoot the 2% target without action to reduce it).

While Marco fizzled Monday, hurricane Laura is expected to intensify to a Category 4 storm.  The major storm is expected to make landfall in Texas or Louisiana either tonight or on Thursday morning.  Many businesses, including a high number of Chemical Plants and Oil Refineries in that area, have been shut down for days and will remain closed until at least next week.

On the virus front, in the US, the numbers show we now have 5,956,160 confirmed cases and 182,421 deaths.  The good news is that new cases continue to trend down, coming in at just over 40,000 for Tuesday.  However, deaths saw a spike back up close to 1,300 on the day.  In a dramatic (and questionable) change, the CDC posted revised guidelines saying that people exposed to infected people DO NOT need to be tested unless they are showing symptoms.  Moreover, they are discouraging testing by saying “if you do get tested, you should self-quarantine at least until you have results.”  So as testing is being decreased and is now being discouraged, and reporting has been changed, we should see dramatically lower numbers.

Globally, the numbers rose to 24,091,252 confirmed cases and 824,177 deaths.  In Europe, Germany said a good portion (42%) of their recent increase in cases are due to international travelers now that they have reopened borders.  Among the origin countries identified were Turkey, Kosovo, Croatia, Bosnia, and Bulgaria.  In the UK, the government made a U-turn to say that many secondary school kids will be required to wear masks in an attempt to get public education (freeing the parents to work) back in place.  

Overnight, Asian markets were mixed, but modestly lower.  Shanghai and Shenzhen both lost over 1.3% in the only moves greater than one percent.  The remaining markets all stuck much closer to flat on the day.  However, European markets are more hopeful as of their mid-day.  There are no major moves, but everything except the FTSE and Sweden are leaning toward the green side.  In the US, at 7:30 am, the futures are pointing to a mixed and modest open, with the DIA just on the red side of flat, SPY just on the green side of it, and the QQQ looking to a half-percent gap higher at the open. 

The major economic news for Wednesday is limited to July Durable Goods Orders (8:30 am) and Crude Oil Inventories (10:30 am).  Major earnings reports include DKS, DY, and RY before the open.  Then after the close GEF and WSM report.

The rally has continued and new DIA member CRM had blow-out earnings after the close Tuesday.  So that should help that market, shaken a bit by Monday’s revised lineup.  It seems the bulls are restless waiting on political conventions to end, DC to return to work to give the economy more stimulus, and now the Fed to announce they will let inflation run until after they secure full employment.

The trend still remains bullish.  So, be careful trying to get on the short side.  (Markets can stay “wrong” longer than we can stay solvent.)  Follow the trend and stick to your trading rules.  Don’t chase moves you have missed.  Don’t try to predict reversals or breakouts.  Above all, remember, trading is a job.  We must obey our rules, stick to the process, and work to be consistently profitable. 

Ed

The Daily Swing Trade Ideas for today: NOW, SQ, COST, FB, MXIM, SNPS, WYNN, UNM, STZ. 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 on follow-through to last week’s rally.  While there was some roller-coaster, markets essentially stayed where they gapped, closing near the highs.  Once again, the SPY and QQQ both closed at new all-time highs.  That said, the SPY and DIA could be seen as “gap up Hanging Man” candles, but we know that without follow-through candle signals mean nothing.  Price gets the only vote that counts.  On the day, SPY was up 1.01%, DIA up 1.39%, and QQQ up 0.62%.  The VXX fell slightly to 24.52 and T2122 rose back near the overbought territory at 78.68.  10-year bond yields rose slightly to 0.656%, while Oil (WTI) was flat at $42.42/barrel.

After the close, CNBC reported that Fed Chair Powell’s Thursday video speech (virtual Jackson Hole Symposium) is expected to be historic.  They say Powell will reverse the long-standing Fed inflation policy that goes back to former Chair Volcker’s policies to fight high inflation in the early 1980s. This speech is expected to outline a new policy designed to encourage inflation to “overshoot” (above the target rate of 2%) instead of trying to halt it at 2 percent.  The idea appears to be they will look to hit the target level “on average.”  This is all designed to emphasize full employment as the guide versus trying to meet dual mandates (employment and inflation) and is seen as an effort to jump start recovery. This will have the effect of forcing risk-seeking, which should point to a continued stock market rally.

In a major shakeup, 3 new companies were added to the Dow Jones “Industrial” Average last night.  The new companies AMGN, CRM, and HON.  Those 3 will replace PFE, XOM, and RTX.  The XOM and PFE removals were a major unexpected move.

On the virus front, in the US, the numbers show we now have 5,915,911 confirmed cases and 181,117 deaths.  The good news is that new cases continued their recent trend down from the July highs.  However, the 7-day averages remain stubbornly above 43,300 new cases and 980 deaths per day. 

Globally, the numbers rose to 23,836,657 confirmed cases and 817,606 deaths.  Hong Kong reported a first case of reinfection (with 4 months between them).  It appears the 33-year-old man was infected with two different strains of the virus.  In Europe, France announced an increase in Covid-19 cases as Germany put both Paris and the French Riviera region on a travel warning.  Meanwhile Spain tightened its restrictions again as cases rise.  (All these European rises should be kept in context.  Even combined, the number of new cases in Europe is dwarfed by those in the US.)  

Overnight, Asian markets were mixed, but leaned heavily to the upside.  Japan and South Korea led gainers.  In Europe this morning again only Athens shows red.  However, the bulls have not made a huge move either yet as the bourses all about +0.50% as of mid-day.  In the US, at 6:30 am, the futures are pointing to a modestly  higher open, with only the DIA looking at a +0.50% gap on the shakeup. 

The major economic news for Tuesday is limited to Conf. Board Consumer Confidence and New Home Sales (both at 10 am) and a Fed Speaker (Daly at 3:25 pm).  However, Tropical Storm Marco will be onshore with Hurricane Laura following soon.  Major earnings reports on the day include BBY, BMO, BNS, HRL, MDT, and SJM before the open.  Then after the close, ADSK, CRM, HPE, INTU, JWN, TOL, and URBN report.

Sorry folks but I am under the weather. This will have to suffice until tomorrow.

Ed

The Daily Swing Trade Ideas for today: . 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

Friday was a lackluster day, but bullish after the PMI Indices showed strong economic activity so far this month.  On the day, all 3 major indices were up a fraction.  The SPY closed 0.35% higher, the DIA up 0.51%, and the QQQ up 0.69% (mostly on the back of AAPL’s pre-split gains.  This gave both the SPY and QQQ new all-time high closes. The VXX was flat at 24.62 and the T2122 4-week New High/Low Ratio was also flat at 37.41.  10-year bond yields were down just a touch to 0.635% and Oil (WTI) also fell to $42.26/barrel.  On a weekly chart, both the SPY and QQQ certainly look extended.  However, that certainly has not deterred the bulls yet.

In weekend Tech news, in an “interested third-party” statement, MSFT has warned a US District Court that AAPL blocking of Epic Games from the App Store is detrimental to gaming industry (including MSFT) and to market competition.  In other tech news, CNBC reported that FB CEO Zuckerberg had warned President Trump and lawmakers at an October dinner of a grave threat to the prospects of US tech companies that was posed by Chinese tech firms like TikTok.  Shortly afterward, a national security review was launched and the President started his Executive Order campaign.

On the virus front, in the US, the numbers show we now have 5,874,295 confirmed cases and 180,605 deaths.  The good news is that new cases continued their recent trend down from the July highs.  However, the 7-day averages remain stubbornly above 43,300 new cases and 989 deaths per day.  On Saturday the CDC announced that during the first 7 months of 2020, the US had 215,000 “more deaths than usual.” This suggests the number of virus deaths could be significantly higher than the 170,000 that was reported at the end of July.  In treatment news, Sunday the FDA expanded the use of “convalescent plasma” as a treatment by giving expanded emergency use authorization.

Globally, the numbers rose to 23,612,908 confirmed cases and 812,991 deaths.  In Asia, South Korea suspended in-person classes at the 1,900 schools across their nation as just under 300 students and 80 faculty members have tested positive since the country began a phased return to class.  The country’s President Moon warned of a total lockdown if the new level of alert does not stop the new spread.  However, in the quarantined Australian Victoria state, progress was reported with the fewest new cases in 7 weeks reported in the last 24 hours.

Overnight, Asian markets were overwhelmingly, but not totally green as Malaysia lost half a percent.  However, Hong Kong, Shenzhen, and Thailand all turned in over 1% to the upside.  The rest showed lesser gains.  Of note were massive gains in IPOs on the China’s NASDAQ-like ChiNext board.  This follows a reform that allows IPOs to trade freely during the first 5 days of post-IPO trading.  The same general situation is true in Europe this morning as only Athens shows red.  However, the bulls are even stronger in Europe as the big 3 indices are all up about 2% as of mid-day.  In the US, at 7:30 am, the futures are pointing to a gap higher of between 0.82% (SPY) and 0.98% (DIA), with the QQQ in between.   

There is no major economic news for Monday.  There are also no major earnings on the day.  However, the first of 2 hurricanes are expected to make landfall in the US, in MS or LA on Monday.  (The other on Wednesday at an unknown gulf-coast location.)

On Friday the bulls had a nice day within the recent consolidation range in the large-caps.  The tech-heavy Nasdaq continued their rally.  There simply have been no bears to be seen for some time.  That said, it still feels like markets have been drifting while they wait on political conventions and Congressional vacations to end.  The trend still remains bullish, but the election-year summer doldrums have clearly been in effect.  That may be ending this morning with the bulls looking to make another run toward the blue sky.

Continue to follow the trend and stick to your trading rules.  Don’t chase moves you have missed.  Don’t try to predict reversals or breakouts.  Above all, remember, our job is to be consistently profitable, not get rich quick. 

Ed

The Daily Swing Trade Ideas for today: NKE, AMD, COST, YUM, JCI, QCOM, GLW, MAS. 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