The bulls continued to run causing a gap-up at the Open Monday.  However, after the gap higher, there was a lot of volatility with all major indices ending with black candles and either indecisive or having faded the gap to some extent.  Still, this leaves the SPY, DIA, and QQQ at new all-time high closes and IWM higher in its trend.  Just beware that gap-up Doji (DIA and QQQ) are not ideal and can presage a pullback. So nerves are a real thing up here at the all-time highs.

Earnings after-hours on Monday were mixed but leaned to the bad side.  XEC, ED, IFF, MAR, MOS, and OXY all reported misses.  However, HIG, JKHY, PXD, and PRU reported beats, although 3 of these also reported revenue misses. 

Meanwhile, on the China Trade War front, news outlets are now reporting that China is pressing the White House to not only forego the threatened December tariffs, but also reduce the existing tariffs on Chinese goods as part of any Phase One deal. My take-away is that the “Phase One” partial agreement is not a done deal yet (as had been suggested). However, President Xi Jinping also made a speech promising that China will continue to lower tariffs and work to stabilize international trade.

In other International News, OPEC announced that it forecasts demand for oil to fall 7% over the next four years. This is based on their assumption that there will be a flood of US Shale Oil on the market as environmental concern regulation continues to be eased in America.

Tuesday’s economic calendar includes Sept. Trade Balance (8:30 am), Service PMI (9:45 am), ISM Non-Mfg. PMI and JOLTS (both at 10 am) and a couple of FOMC speakers in the afternoon.  However, earnings are likely to drive markets again as AGN, ARNC, BDX, EMR, EXPD, FIS, HSIC, MYL, NEM, PPL, REGN, TPR, and ZBH all report before the Open.

Overnight, Asian markets were green.  In Europe, markets are also mostly bullish at this point.  As of 7:30 am, U.S. futures were green across the board, looking for gap-ups of between 0.2% and 0.5%.

It certainly appears the bulls want to continue their run. However, the tepid post-gap candles Monday suggest it is not a run-away stampede for the bulls. With more China Trade War twists, as well as more earnings ahead, remember to be cautious and continue to take profits and move stops.

Ed

Swing-Trade Trade ideas for your consideration. Long – GPC, IPG, MPC, XRX, VLO, LUV, ROL, JPM, KSU, PPG, AA, OLLI. Short – MLM, CINF, LMT, NOC. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

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🎯 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

Strong earnings and an unexpectedly strong jobs report caused a gap up and strong day as the bulls ran hard.  The SPY and QQQ closed at new all-time highs.  Meanwhile, the DIA is closed near its all-time highs and the IWM also had an extremely bullish day (closing at the high since May). The bulls were certainly running Friday.

Over the weekend, the CEO of MCD was fired (had an affair with an employee) and it was reported that Warren Buffett is now holding 10 times his normal amount of cash. (This may indicate he just feels many stocks are over-valued up at all-time highs.) The ATP (an Asian Trade pact similar to NAFTA, but excluding the US), which was created because President Trump decided to pull out of a similar pact the US had started and was close to having in place, took another step toward ratification (expected next year). Finally, the Saudis announced Sunday that Aramco, the world’s most profitable company, will be listed (as expected) on the Saudi stock exchange in December.

Monday’s economic calendar is limited to September Factory Orders at 11 am, but even though we are now past the half-way point, earning continue.  In a pre-market report, UA posted a beat. However, CNBC reports US is also under Federal Investigation for Accounting fraud.

Overnight, Asian markets were green.  In Europe, markets are also bullish at this point.  As of 7:30 am, U.S. futures were green, looking for about a gap up of between 0.4% and 0.5%.

It certainly appears the bulls want to continue their strong run from Friday. China Trade War twists and turns, as well as more earnings, remain ahead. However, the bulls have the bit in their teeth early this Monday Morning.

Ed

Swing-Trade Trade ideas for your consideration. Long – FLS, ITW, PM, MHK, AMP, ALK, LUV, INTC, PG, INFO, RF, MS, BBT, TSM, C, BF.B, OLLI, DE, BERY, STX. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. 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.

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

Despite strong earnings Wednesday night and premarket on Thursday, markets could not overcome bad news out of the Trade War.  Reports out of China say they won’t budge on the major issues (subsidies to companies, industrial policy and Intel. Property), don’t trust President Trump to keep any deal and doubt any long-term agreement can be done while he is in office. Meanwhile, the White House says they still expect to sign the phase one agreement (just to not make things worse) on the same schedule as before the Chile Conference was canceled.

The net result was that the bears had control of the markets all day on Thursday.  The four major indices ended up printing Hanging Man type candles.  The good news is that all four also managed to climb back above Support by day end.  Also, after the close Thursday, ANET, FTNT, QRVO, and WU all reported beats. 

Friday’s economic calendar includes Oct. Nonfarm Payrolls (8:30 am) and ISM Mfg. PMI (10 am).  There will also be several FOMC speakers in the afternoon (which will probably have no impact this quickly after the Fed Statment).  However, earnings are still likely to be the driver with AIG, ABBV, BRKB, CBOE, CL, D, XOM, LYB, NWL, PCG, STX, SRE and CVX all among those reporting before the bell today.

Overnight, Asian markets were mixed.  In Europe, markets are also mixed, but mostly green at this point.  As of 7:30 am, U.S. futures were green, looking for about a one-third of a percent gap up.

China Trade fears remain front and center as of Thursday.  However, earnings remain generally strong, with a few exceptions. Remember this is Friday (payday).  So take some off the table where you can. Be cautious as there are many earnings still to go, likely more twists in the Trade War saga and two days ahead when you can do nothing about a report (or tweet) if you are long or short.

Ed

Normally, we have no trade ideas for Fridays. However, in honor of the Open House, here are some Swing-Trade Trade ideas for your consideration. Long – PM, PCAR, PNR, PKG, NEE, INTC, APH, INFO, TSM, PPG, BF.B, DE. Short – MLM, BA, IBM, DRI. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. 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.

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