After a rocky start (likely on coronavirus epidemic fears), markets rebounded in the afternoon to close near their highs Thursday.  The SPY (up 0.25%) and the QQQ (up 0.32%) both closed at new all-time high closes, while the DIA closed slightly lower (down 0.09%), dragged lower chiefly by TRV, even after beating earnings expectations.  The VXX also fell to 13.49 and the T2122 remains in mid-range at 50.74.

In the afternoon, the World Health Organization said it was a bit too early to consider the coronavirus a public health emergency worldwide, saying it remains a “local” Chinese emergency for now.  As mentioned above, this seemed to help markets.  However, this story continues to lead global news as China has locked down (quarantined) more cities each with millions of inhabitants (at least 40 million at this point) and banned public transportation in those areas.  They have also banned the annual Lunar New Year celebration events that had been scheduled in Beijing. 

While apparently most of the 26 deaths from this virus have so far been elderly patients with pre-existing ailments, the concerning news Thursday was that some of the confirmed cases have shown no fever.  This is significant because the only screening tool available at the moment is measuring the temperature of travelers.  So, any cases not showing a fever would slip through transport hub screening undetected.

In the US, the main story continues to be the impeachment trial.  The House Managers (Prosecution) wrap up their pre-determined 3-days of presentation on Friday. The President’s Counsel then begins their presentation Saturday, with the speculation now being it will be shorter since the facts don’t seem to be disputed.

For markets, earnings still hold major sway as INTC posted a big beat (after rallying the last couple days, almost as if that was expected).  Others posting beats after the close included DFS, TEFC, SIVB, SWKS, and ISRG. On the other side, ASML and RJF both posted misses.

On Friday, the major economic news is limited to Jan. Mfg. and Services PMIs (both at 9:45 am).   Major earnings reports are limited to APD, NEE, and WAT before the open, as well as AXP and SYF after the close.

Overnight, Asian markets were in the green.  In Europe, markets are mixed, but mostly in the green at this point in their day.  As of 7:45 am, once again U.S. futures are pointing to another gap higher of between a quarter and a half a percent.

The bulls remain resilient as the trend continues higher.  Still, the charge is not head-long, perhaps with some combination of fear over Coronavirus, Impeachment, weekend news leading to a little caution. Regardless, the trend remains intact.  So, while caution is warranted, don’t fight the trend.  Look for long opportunities, hedge your risks, keep taking profits and move your stops to protect yourself. Above all, wait for the trade to come to you…plan your trade and trade your plan.  

Ed

No Swing Trade Ideas for your consideration and watchlist on Friday. Remember to take profits and hedge your risks. It’s a long way to Monday with at least political and health headline risks in play. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 Wednesday, but then drifted back toward flat the rest of the day.  At day end, the SPY gained 0.01%, the DIA lost 0.01%, and the QQQ gained 0.26%.  The VXX gained 0.82% to a still-low 13.54 and the T2122 remains in the mid-range at 49.57.

The Coronavirus story continues to grow.  China now reports 17 deaths, nearly 600 confirmed cases and it has both quarantined the city and stopped public transport in the city where it was first confirmed.  This threat is complicated by the Chinese New Year (traditional travel period) which is happening right now.  Bloomberg reports literally hundreds of millions of Chinese are expected to travel this week and in 2019 nearly 3 billion trips were taken by Chinese in the 40 days from the Lunar New Year and the Spring Festival (the period that starts this week).  And those trips are not all local.

In the US, the main story continues to be the impeachment trial.  Still, BA also continues to make the wrong kind of news as UAL told reporters it does not expect the 737 Max to fly before the end of summer, the FAA head said there is no timeline for reapproval of that plane and BA’s new CEO told Reuters that it is shelving a new mid-market aircraft project (a $15-$20bil  project) due to the 737 Max crisis. 

However, for markets, it seems that it’s all about earnings versus lowered expectations right now.  After hours last night ASML, BKR, KMI, and RJF all reported misses.  There will also be a number of major earnings reports Thursday, with CMCSA, PG, AAL, KEY, KMB, MTB, MKC, LUV, SWK, TRV, and UNP reporting before the open.  After the close AEP, DFS, HBAN, RMD, SIVB, SWKS, TXN, VFC, INTC, and ISRG all report.   

Other major economic news is limited to Weekly Jobless Claims (8:30 am) and Oil Inventories (11 am).  Dec. Home Sales (10 am).  CNBC feels there is a small bearish risk for US Markets from the ECB rate decision due Thursday about 7:45 am.  However, the most likely scenario is that this is a non-event.

Overnight, Asian markets were mostly in the red.  In Europe, major bourses are also in the red at this point in their day.  As of 7:45 am, once again U.S. futures are pointing to an open that is flat to lower by two-tenths of a percent.

Markets are showing a little hesitance this week. Perhaps this is due to being priced for perfection at the all-time highs. Or it could be some combination of fear over Coronavirus, Impeachment, or maybe even (gasp) less than thrilling earnings. Regardless, the trend has not been broken. It just seems to be in a lull so far this week. Keep reminding yourself that we are extended, but the trend remains bullish. So, while caution is warranted, don’t fight the trend. Look for long opportunities near support but don’t chase. Hedge your risks, keep taking profits on a regular basis and move your stops to protect yourself. Above all, wait for the trade to come to you…plan your trade and trade your plan.  

Ed

Swing Trade Ideas for your consideratoin and watchlist: FMC, HOMB, MYL, ABBV, UTHR, VG, URI, CDW, SHOO, SKX, CAH, ACAD. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 held their ground Tuesday, off the absolute highs but not falling far.  The SPY closed down 0.20%, the DIA down 0.49%, and the QQQ down only 0.04%.  T2122 has fallen back to the mid-range at 57.57 and the VXX gained only a fraction to close at a still historically-low 13.43.

On the news front, the CDC confirmed the first case of coronavirus had made its way from China to the US in the short time it has even had a name (about a week).  In other news, BA took another beating as it said it does not expect regulators to allow the 737 Max to fly again until at least mid-2020.  Finally, the impeachment trial began with wrangling over trial rules. It seems the Republicans are still leaning toward just a summary presentation of House findings and then a vote to acquit. They blocked a Democrat call to subpoena documents the White House refused to give the House and both sides are arguing over witnesses.

The interesting news out of Davos was almost all made by President Trump, as is his want.  While the need to adapt to Climate Change and the need to work together globally was the theme (and near-universal opinion of attendees), President Trump remains vocally opposed on both counts.  Once again, he pooh-poohed climate change as not proven and unneeded drag on the economy. He also urged all countries to employ trade policies that are in their own countries’ internal best interests.  He also attacked the Fed again (saying the economy would be at a 4% growth rate except for the Fed dragging it down). And Finally, he announced an attempt to reform the WTO (which he neutered last year by removing a quorum among the Trade Dispute Judges).

Wednesday’s major economic news is limited to Dec. Home Sales (10 am). However, there will be a number of earnings reports, with APH, GD, JNJ, NSC, NTRS, TEL, and TXT all reporting before the open.  After the close ASML, CCI, DFS, FFIV, KMI, RFJ, SLG, and VAR report.

Overnight, Asian markets were green across the board.  In Europe, markets are mixed, but mostly higher at this point in the day.  As of 7:45 am, once again U.S. futures are pointing to a hefty gap higher of between four-tenths and a two-thirds of a percent.

It appears the bulls are back for more this morning. The generally good earnings and lack of major bearish news seems to have them ready for another leg up this morning. Just remember that we are still extended. For example, the Put-Call Ratio is at it’s lowest mark in years. So, caution is warranted, but don’t fight the trend. Look for long opportunities near support but don’t chase. Keep taking profits on a regular basis, moving your stops to protect yourself, and wait for the trade to come to you.   

Ed

Swing Trade Ideas for your consideratoin and watchlist: LW, GRMN, EYE, OSTK, TUP, VG, URI, MHK, MGM, MYL, MU. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 refused to back off on Friday.  Once again all three major indices gapped higher.  It was an indecisive day after the gap, but still, the SPY gained 0.37%, the DIA gained 0.12% and the QQQ gained 0.49%.  All three closes were at the all-time high.  The VXX remains historically low at 13.32 and the T2122 remains in overbought territory but did back off slightly to 82.99.

In economic news Friday, the Treasury Department had to bring back the 20year bond (last issued in 1986) to help cover the ballooning budget deficit costs.  This had the short-term effect of steepening the yield curve.  In addition, Bloomberg reported that Larry Kudlow reports that the Trump Administration will seek to scrap a 1977 law that prohibits US companies from bribing foreign governments.  This issue was reported to have been a point of contention between the President and his previous Secretary of State.

Among stocks, BA took a hit when a new software problem for the 737 Max was announced.  In addition, JBHT took a major hit on their earnings miss.

There is no major economic news Tuesday following the holiday, but the President is in Davos and is telling other countries to follow his protectionist path of “Insert Country Here First” approach. That itself is a first, coming from the leader of the country that led the free-trade and global market movements. In non-economic news, the Presidential impeachment trial begins today. In the market, there will be a number of earnings reports.  Among those reporting before the open are CMA, HAL, HBI, NUE, PGR, and ROL.  After Tuesday’s close IBM, ITW, NFLX, UAL, and VFC will report.

Overnight, Asian markets were strongly red across the board.  In Europe, the same is true red across the board.  As of 7:45 am, U.S. futures are pointing to third or a percent gap lower.

The bulls have been relentless for a long time. The long weekend, amount of extension and upcoming impeachment trial may have changed the tune to one that is a little more cautious. However, the trend is still the trend (until it is broken), so don’t overreact. Look for long opportunities near support but don’t chase. Keep taking profits on a regular basis, moving your stops to protect yourself, and wait for the trade to come to you.   

Ed

Swing Trade Ideas for your consideratoin and watchlist: ANGI, LOW, WYND, ENPH, LW, MU, M, TUP, SNDL, YNDX. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 gapped markets higher perhaps on a huge earnings beat by MS.  Regardless of the reason, after that gap markets traded sideways in a tight range until late afternoon.  Sometime after 3pm the bulls took over again and drove prices higher right into the close.  The SPY closed up 0.81%, the DIA up 0.89%, and the QQQ up 0.96%.  As you’d expect, the VXX fell 2.42% again to 13.29.  T2122 jumped higher well into overbought territory at 93.97.

Among the market news for the day was Bloomberg report a panel that seems to contradict the reports from Wednesday’s signing coverage of Phase One of the China Trade Deal.  The consensus from the Chief Economists from all the major US banks is that the trade deal would not have a strong impact on the US economy, at least in 2020.  They’ve concluded that growth will slow to 1.8%-1.9% this year (well below the 2.5% touted during the signing ceremony and in the Administration’s post-signing interviews Wed.).  Time will tell, but economists seem skeptical.

On the cheerier side, DataTrek Research reported that US pickup truck sales (an indicator of small business activity) ended 2019 on a high note.  Those sales ended the year 2.3% higher than in 2018.  The other news was that GOOG has now joined AAPL and MSFT in the “More Than $1 Trillion Market Cap” club. The Fed keeps saying their mass Repo purchases are not stimulus, but the market sure keeps treating them that way.

Friday’s major economic news includes Dec. Building Permits and Dec. Housing Starts (both at 8:30 am), Dec. Industrial Production (9:15 am), JOLTS and Univ. of Michigan Consumer Sentiment (both at 10 am) and a few Fed speakers throughout the day.  Major earnings before the open include CFG, FAST, KSU, MTB, RF, SLB, and STT. There were also CNBC reports that BA will need to take another massive charge related to their 737 Max debacle. So watch that one for gapping as well.

Overnight, Asian markets were green across the board.  In Europe, the same is true as the rest of the world follows our lead from Thursday.  As of 7:45 am, once again U.S. futures are pointing to a gap higher of between a quarter and a third of a percent.

The bulls continue their incredible run with new all-time highs seeming to come daily.  Over-extension, earnings and headline risk over a 3-day weekend are all very real issues at this point.  However, markets can remain overbought longer than bears can hold out while being too early.  So, consider caution and/or hedges on Friday, but don’t bet against the trend. Look for long opportunities near support but don’t chase. Keep taking profits on a regular basis, moving your stops to protect yourself, and wait for the trade to come to you.   

Ed

Sorry, but no Swing Trade Ideas on a Friday before a 3-day weekend. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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