Inthis video, Rick looks at 10 charts for his watch-list the coming week 1/13/2020 and maybe longer. (SPT) See it – Plan it – Trade it. Past performance is not indicative of future returns. This post is not a recommendation to buy or sell a security. 60-day trial for just $49.
I hope you consider subscribing to my Youtube channel for our trading education and giveaways. – Rick Saddler/Hit and Run CandlesticksWithout a doubt, the LTA scanner is a must-have software for the trader that’s ready for the 1% group. Rick Saddler / Hit and Run CandlesticksIn my opinion, TC2000 is the worlds best charting software – Rick Saddler Founder of Hit and Run Candlesticks
DISCLAIMER: The stocks we talk about are not recommendations to buy or sell. You must evaluate the risks and rewards yourself. 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 financial or trading advice. All information provided is intended for educational purposes only. You are advised to thoroughly test any new trading approach before implementing it. Past performance does not guarantee future results. Terms of Service
The bulls followed up on Wednesday’s rally with a gap up on Thursday. However, the rest of the day was indecisive. Still, the SPY (+0.66%), DIA (+0.75%), and QQQ (+0.85%) each closed at a new all-time high close. Among the drivers of the move was more relief from de-escalation of the US-Iran conflict and big moves by tech heavyweights AAPL (+2.1%) and AMD (+2.4%). The VXX fell again to 14.19 and market breadth remains in the mid-range with the T2122 sitting at 66.67.
An important, under-reported story Wed. was significant changes the Trump Administration unveiled to the Environmental Protection Act. If enacted, these may have significant economic (and/or other) impact. The first change is that there would no longer be any Federal review of construction projects that do not involve substantial federal funding. Second, it would be much easier for all Federal agencies to approve infrastructure projects without studying or considering environmental or wildlife (endangered species) impacts. While this technically covers a wide range of construction, the most impacted types would be road, bridge, tunnel, pipelines and telecom construction (including cell tower and 5G build-out). There will be a 60-day comment period on the new policy proposals before they are made law by the administration. So, expect a political fight on this one.
$50.00 discount with code: Privilege
Economic data continues to be strong as Weekly Jobless Claims again came in under expectation yesterday. (214,000 versus 220,000 expected.) However, the big news story of the day was not economic, but instead the crash (shootdown?) of the Ukrainian 737 in Tehran.
Overnight, Asian markets were in all the green. We also see green across the board in European markets so far. As of 7:45 am, U.S. futures are pointing to a quarter to half a percent gap up again at this point.
Friday’s major economic news includes Dec. Average Hourly Earnings, Dec. Non-farm Payrolls, and Dec. Unemployment Rate (all at 8:30 am). There are no earnings reports on the day.
Once again, it appears the only thing the bulls fear is over-extension. They’ve only wanted to hear good news for a long time now. However, while very bullish “in the now,” this is also a risk factor, because it’s the unexpected shock that really moves markets dramatically. So, all we can do is continue to be cautious, use hedges and follow the trend. As always, you know my mantra, keep planning your trades, and trading your plans. Taking profits along the way, move your stops to protect yourself, and wait for the trade to come to you.
Ed
Sorry, but no Swing Trade Ideas for your consideration and watchlist on Friday (Pay Day). 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 are not recommendations to buy or sell.
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 DickCarp: 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.
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 are running with wild abandon breaking records in
what seems an insatiable desire to buy up stocks. Closing at a new record high and only a few
points away for 29,000, the only stumbling block ahead is the Employment Situation
number that consensus estimates suggest a possible decline. Next week begins the 1st quarter
earnings season and the current rally seems to suggest tremendous confidence in
strong earnings outcome. Companies will
need to produce some impressive results to support current prices. Consider your rick carefully as we head into
the weekend.
Overnight Asian markets closed the week mixed but mostly
higher. This morning European markets
are mostly bullish across the board as they continue to monitor US-Iran tensions. US Futures have been bullish throughout the
night and suggest a modest gap up open ahead of the Employment Situation
number. With the weekend quickly approaching
and the beginning of earnings season just around the corner, it may be a really
good time to take some profits and reduce some risk.
On the Calendar
On the Friday earnings calendar, we have just six companies fessing
up to quarterly results. However, the only
notable report today comes from INFY before the bell.
Action Plan
Another big day a rally yesterday as the bulls seems to have
an insatiable desire to buy up stocks. The
market gapped up to new record highs and continued to find more buyers throughout
the day. Futures this morning continue
to reach out for new highs ahead of the Employment Situation number at 8:30 AM
eastern. Such an exuberant rally ahead of earnings suggests the market believes
we will see substantial earnings growth this quarter. Analysts, however, are suggesting negative
growth is possible, which could create an interesting situation when earnings
season kicks off next week.
According to analysts, the price to earnings ratio is near a
20 year high. That could put a lot of
pressure on companies to perform nearly perfectly or suffer the result of disappointing
investors. It’s looking more and more likely
that Iran shot down the 737 with a Russian made missile. Iran has threatened additional retaliation. Amidst this uncertainty, the House passed a
resolution attempting to limit the Presidents’ power to take action with Iran. With the Dow, just a few points from reaching 29,000
for the first time ever, I’m guessing the institutions will do as much as
possible to get that headline. The only
possible stumbling block to that goal is the Employment number that consensus
suggests may decline today.
After a massive overnight recovery from the fear generated by Iranian retaliatory rocket attacks, markets rallied early Wednesday. However, there was also a selloff when it was announced that President Trump would address the nation late morning. Completely unexpectedly, the President adopted a relatively de-escalatory tone. Markets rallied hard the rest of the morning on that surprisingly measured and responsible stance.
However, after lunch, markets chopped sideways the rest of the day. The day ended off the highs, but the SPY gained 0.52%, the DIA gained 0.58% and the QQQ (which did close at a new all-time high close) gained 0.75%. As you’d expect, the VXX was down again to a very low 14.80. While this was a great day for bulls, there are still some concerns about this situation that should be kept in mind.
Remember, in addition to claiming victory, the President did add more new sanctions and did threaten Iran again. Second, Iran has not truly backed down and their replacement for the killed General Soleimani is essentially a clone, with the same geopolitical outlook, resources and international networks in place. Third, after the President’s recent new deployments, the US has 60,000 troops in the Gulf. This makes for a lot of chances on both sides for mistakes, rogue actions or local events to spiral larger. Then, of course, we also have the fact that President Trump isn’t known for consistency, especially when it comes to being consistent with positions contrary to his own previous threats or bluster.
$50.00 discount with code: Privilege
Finally, President Trump said he’d ask NATO to both: 1) pull out of the 2015 JCPOA deal (which he already pulled the US out of) and 2) get involved in military deterrence of Iran in the Persian Gulf. However, as late as Tuesday both Germany and France had made statements in support of keeping the deal alive and on Wednesday (prior to Trump’s address) the UK’s PM told UK Parliament that the 2015 deal was the best and only way to create lasting peace in the middle east without a nuclear Iran. So, NATO support of the President’s request or position seems quite unlikely.
The point is, while the situation seems better than was expected and all is well now, we are not out of the woods on this story yet. More importantly, the ease at which the market has brushed off potential negatives such as the threat of war should give us pause…a reason to be cautious.
Favorite Charting Software
Thursday’s major economic news is limited to Weekly Jobless Claims (8:30 am) and three Fed speakers over the course of the morning. There are no earnings reports on the day.
Overnight, Asian markets were in the green on hopes of middle-east de-escalation. In Europe, markets are mostly green on the perceived ramp down in tensions. As of 7:45 am, U.S. futures are pointing to a significant gap higher of between 0.4% and 0.6% across the major indices.
Once again, with any path to de-escalation open, it’s hard to bet against the bulls. They’ve only wanted to hear good news for a long time now. However, this is also a risk factor, because it is things Mr. Market doesn’t expect that causes big shocks. So, all we can do is continue to be nimble, use hedges and/or limit exposure. As always, you know my mantra, keep planning your trades, and trading your plans. Taking profits along the way, move your stops to protect yourself, and wait for the trade to come to you.
Ed
Swing Trade Ideas for your consideration and watchlist: INXN, NFLX, CL, LPX, CNC, BIDU, IGT, ZS, MIC, ULTA. 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 are not recommendations to buy or sell.
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 DickCarp: 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.
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
A pause took hold Tuesday as markets gapped a bit lower at the open and then indecisive trading reigned the rest of the day. At day end, the SPY was down 0.28%, DIA down 0.43%, and the QQQ was flat at -0.01%. T2122 fell back into its mid-range at 58.16 and even the VXX fell slightly to 15.01.
However, more important than the Tuesday session was the overnight story of the Iranian response to the US assassination of Iran’s top General. Iranian state television report that they had fired tens of rockets/missiles at least two US bases in Iraq. This response came hours after the funeral for that Iranian General, where 50 people were killed by a stampede among the hundreds of thousands of mourners chanting for revenge.
Dow Jones Industrial Average Futures immediately fell over 400 points (1.5%), Oil prices spiked 4%, and Gold rose 2.1% upon news of the Iranian attack. However, this seems to have been a very measured Iranian response, intended to open the door to de-escalation. The reason I say this is that these rockets were fired at very large, sprawling bases that had already been under local rocket attacks. The attacks were also forewarned, allowing the US to prepare. Therefore, US casualties were less likely…and that is what happened, no US casualties.
$50.00 discount with code: Privilege
Taking that cue, so far President Trump has backed away from his threats, made no speech to the Nation and has not retaliated. Perhaps as a result of this “de-escalation so far,” markets have fully recovered overnight. While this story will likely continue to drive news and keep unfolding, for now, US markets have stabilized.
Wednesday’s major economic news is limited to Dec. ADP Nonfarm Payroll (8:15 am) and Crude Oil Inventories (10:30 am). However, earnings season is starting again with reports from STZ, LEN and WBA before the open.
Favorite Charting Software
Overnight, Asian markets were in the red on the aftermath of the Iranian strike. In Europe, markets are mixed, but mostly green on the perceived limited response from Iran. As of 8:00 am, U.S. futures are pointing to flat to slightly higher open.
With a path to de-escalation open, it’s hard to bet against the bulls again. For months they have seen the good in every event and ignored the bad. However, anything can happen short-term. So, all we can do is be nimble and/or use hedges or reduce exposure. As was pointed out in last night’s e-learning session, even stops can’t protect you from gaps. However, when you do trade, keep planning your trades, and trading your plans. As always, keep taking profits along the way, move your stops to protect yourself and wait for the trade to come to you.
Ed
Swing Trade Ideas for your consideration and watchlist: BYND, TWTR, FTCH, ETSY, ANET, BIDU, T, ACHC, GE. 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 are not recommendations to buy or sell.
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 DickCarp: 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.
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
After an evening of missiles, turmoil, and rising tensions that
sent markets tumbling around the world, the message from the President that All
Is Well, restored frayed nerves and market prices. Shortly after the news of the attack, the Dow
Futures plunged more than 400 as a sobering reminder just how quickly geopolitical
events can affect the path forward for the market. Traders should carefully consider this and
plan their risk accordingly to protect themselves as tensions between the
countries remain very high.
Asian markets closed seeing only red overnight as oil and
gold prices spike after the Iranian missile attack. European markets have, however, recovered overnight
losses currently holding modest gains while closely monitoring developments. US Futures ahead of earnings and economic
reports now suggest a flat to slightly bullish open. Market jitters have subsided for now keep one
ear to the news as massive price volatility could be just one report away.
On the Calendar
On the hump day earnings calendar, we have 24 companies reporting
quarterly results. Notable reports
include STZ, BBBY, LEN, MSM & WBA.
Action Plan
After Iran fired more than a dozen missiles at Iraqi airbases
that house US troops. According to
reports, there were no lives lost in the attack but came with a warning from Iran
to withdraw forces from the area to avoid additional actions. Markets around the world quickly reacted with
the US Dow Futures sinking more than 400 points while gold and oil prices
spiked. However, after the President
issued a statement last night that all was okay, markets have recovered, but it
is a sobering reminder of how quickly geopolitical events can affect market
prices.
As tensions continue, traders should plan their risk
accordingly and always have a plan to protect your capital if this conflict
continues to escalate. As of yesterday,
the bullish trends remained intact, although the price action was choppy, reflecting
the uncertainty of the day. US Futures
now indicate a flat to slightly bullish open ahead of some notable earnings and
economic report. In times of turmoil, we
naturally first think of how the situation effect our money and ourselves. May I suggest we all take a minute to
remember our troops standing in harm’s way and their families undoubtedly
stressed and worried about their loved ones.
We risk only money, and they risk their lives to protect us!
Markets gapped down Monday (on fears over the Iran mess), but the bulls would have none of it. An all-day rally left all the major indices printing very strong Marubozu (shaved head) candles, closing on the highs. While the SPY, DIA, and QQQ did not print new all-time highs, we are back within spitting distance of those marks. Markets are also still not over-bought again (at least by the T2122 metric, which rose, but remains below 80). Oil prices also stabilized, dipping after the true risk of Persian Gulf conflict was reweighed.
A US Marine Brigadier General (William Seely) sent a letter to the Iraqi Ministry of Defense implying that the US would be removing troops from Iraq, starting with the Green Zone. However, after-hours the US Department of Defense said the letter was a mistake and denied that US troops will be leaving, but are instead just repositioning. In the meantime, the US deployed the 82nd Airborne Division (about 3,500 men) and a 2,200 man Marine Rapid-Reaction Group back to the region and President Trump said we were not leaving unless Iraq pays us for building an airbase. Finally, the Pentagon rejected President Trump’s list of threatened 52 Iranian targets as many of them are illegal targets under International law (cultural and religious sites).
$50.00 discount with code: Privilege
In business news, American Airlines (AAL) reached an agreement with Boeing (BA) over the compensation BA will pay over the grounding of the 737Max. Finally, Pier 1 Imports (PIR) reported it will close 450 stores (nearly half of their current stores).
Tuesday’s major economic news includes Import/Exports (8:30 am), and Nov. Factory Orders and Nov. Non-Mfg. PMI (both at 10 am). There are no earnings reports Tuesday.
Favorite Charting Software
Overnight, Asian markets were mixed but mostly green. In Europe, markets are green across the board at this point. As of 7:45 am, U.S. futures are sitting on either side of flat as the world seems to have now moved past the latest Persian Gulf crisis for the moment. Even oil is down about a percent at this point.
The bulls great showing Monday tells us who is in-charge of markets. While anything can happen short-term, as we’ve said before, it’s hard to bet against the bulls in the longer-term. As always, keep planning your trades, trading your plans and keep taking profits along the way. Remember it is consistent singles and doubles that win the game…not occasional home runs. However, it may be time to reconsider any short or hedge positions put on due to the US-Iran situation.
Ed
Swing Trade Ideas for your consideration and watchlist: PTCT, CHGG, BLUE, VG, EXAS, TDOC, GGAL, WORK, GPS, M, ATVI, GRUB 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 are not recommendations to buy or sell.
🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.
🎯 DickCarp: 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.
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
Geopolitical fears proved to be no match for the relentless
march of the bulls yesterday. By the
close of the day, not only had they rejected the fear of the gap down but left
behind bullish engulfing candle patterns that held support and trend. However, the substantial rise in gold and oil
prices seems to be a huge contradiction to this exuberant bull run. As Iran promises retaliation and the US warns
waterway shippers of possible attacks, traders should plan their risk carefully
keeping a close on the developments in the middle east.
Overnight Asian markets also set aside retaliation fears
closing the day green across the board.
European markets are also rebounding this morning as fears seem to has
subsided. As I write this report US
Futures that boldly continued to rally overnight seem a bit more subdued ahead
of economic reports on International Trade, Factory Orders and the ISM.
On the Calendar
On the Tuesday earnings calendar, we have 10 companies
reporting with none that particularly notable.
Action Plan
The bulls shook off the fear of potential retaliation from
Iran yesterday rejecting the gap down lows of the last two trading days. To be honest, I’m not sure where the overall
confidence is coming from with Iranian generals publicly speaking about
retaliation and US warnings; they are concerned about waterway attacks. Nonetheless, the bulls remain relentlessly in
control of the trend that left behind bullish engulfing candle patterns on the
DIA, SPY, and QQQ.
Bullish is a good thing but over-exuberant blind bullishness
and become very dangerous so let’s hope it’s not the later. With the recent pullback, the T2122 indicator
has relaxed, allowing more room for the indexes to extend more to the
upside. However, there is a contradiction
in the VIX, which shows little to no fear while gold, (GLD) has gone nearly
parabolic in its rally over the last few days.
Overnight futures continued to push boldly higher as have oil prices
that at one point topped $70 a barrel yesterday. With little on the earnings calendar, the
market will look to the economic reports on International Trade, Factory Orders
and ISM numbers for inspiration. Also,
remember geopolitical news could create substantial reversals and price volatility,
so plan your risk accordingly.
Inthis video, Rick looks at 10 charts for his watch-list the coming week 1/13/2020 and maybe longer. (SPT) See it – Plan it – Trade it. Past performance is not indicative of future returns. This post is not a recommendation to buy or sell a security. 60-day trial for just $49.
DISCLAIMER: The stocks we talk about are not recommendations to buy or sell. You must evaluate the risks and rewards yourself. 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 financial or trading advice. All information provided is intended for educational purposes only. You are advised to thoroughly test any new trading approach before implementing it. Past performance does not guarantee future results. Terms of Service
