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AMD Risk vs. Reward

July 11, 2019 by Rick Saddler

No trades were taken yesterday, July 10, 2010. But we did close AMD for a 21% profit, after being up four days and approaching resistance we felt the risk was a bit high. We will take a 21% base hit all day long. BABA felt some profit taking yesterday, still above our stop. INTC closed above the mid-T-Line Band and + 10.6%. PFE closed back above the mid-T-Line Band with a Morning Star type pattern. SNAP closed with another Doji, still waiting for a breakout. WBA riding the upper T-Line Band looks up pre-market.

👉 Full disclosure, we are actively trading all stocks mentioned in the above paragraph. We may close or add more at anytime. To learn more about us or join in the live trading room consider an HRC membership or trial

👉 Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.

Pre-Market Thoughts

For those using the Live Trading Alerts Scanner, the Bull J-Hook scans and the Bull Trap scans are really producing right now.

The SPY gapped up yesterday and held, closing with a Doji between the upper green T-Line Band and the Blue T-Line Band. Price action and the trend are still pointing to bullishness; The market seems to be ok with the FEDS attitude on rates. The past nine candles in the SPY is trying to paint a J-hook continuation picture, a breakout and test would go a long way in justifying a bullish swing over $300.00.

The CBOE Market Volatility Index VIX-X did not have a lick of fear in it as of the close yesterday. Keep in mind that can change with a blink of an eye. The VIX-X closed down another 7.21%, below all T-Line Bands and the Bands are still trending down.

😊 Have a great trading day – Rick

🎯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.

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for for the QEP → (QEP) Quality Entry Patterns). SBGI, WW, DPLO, PEP, NVCR, STZ, DIS, CTL, SQ. Check Earnings!

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.

We use The Worlds Best Trading Tools, TC2000 for charting, LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. The right tools for the right job.👍

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Dovish Comments

July 11, 2019 by Doug Campbell

New record highs printed in the Dow, SP-500 with the NASDAQ managing to close at historic highs as the market reacted to yesterday’s dovish comments from the Fed Chairman. Today Powell has a repeat performance on Capitol Hill, but today his hot seat is in front of the Senate Banking Committee. Although I think it’s unlikely we will learn any more during today testimony, we should still prepare for the possibility of volatility.

Overnight, Asian markets reacted bullishly to Powell’s comments closing up across the board. However, as I write this, European indexes are mixed and nearly flat, but that is not affecting the US Futures that point to another bullish open. The CPI and Jobless Claims report at 8:30 AM Eastern will, however, have the final say on the market open this morning. The trends are bullish, and the bulls are clearly in control with the market fueled up on likely interest rate cuts.

On the Calendar

On the Thursday Earnings Calendar, we have just nine companies reporting quarterly results. Notable reports include DAL and FAST.

Action Plan

The Fed Chairmans testimony in Congress yesterday all but confirmed a rate cut of at least 25 basis points is on the way. Today he must do it all over again at the Senate Banking Committee, but I would be surprised if we learned any new details today. The market reaction was initially very strong, pushing the SP-500 briefly over 3000 for the first time in history. The Dow printed a new record high but was also unable to hold it by the close leaving shooting star pattern on SPY and DIA charts. However, bulls carried the day in the QQQ closing firmly in new record territory with tech now leading the way.

A shooting star pattern is considered a bearish pattern, but that is only true if prices follow-through with a downside move. Without a follow-through, it may signal a little caution and possibly not even that if the bulls find the energy to move the indexes higher. We have the CPI and Jobless Claims at 8:30 AM Eastern that have the potential to move the market before the open. Currently, the futures point to a modestly bullish open with trends remaining very strong.

Trade Wisely,

Doug

Walking a Tightrope

July 10, 2019 by Doug Campbell

Jerome Powell will be walking a tightrope as he testifies on Capitol Hill today and tomorrow. The world is hoping he will bring some clarity to the FOMC’s next move but don’t be surprised if he keeps us in the dark. At times he will likely sound dovish as he shares his concerns for a weakening global economy. However, don’t be surprised if he also comes of hawkish as he holds to his mandate of jobs growth that is currently exceeding expectations.

Consequently, we could experience some price volatility as the market reacts to his comments. Remember we also have the release of the FOMC minutes at 2:00 PM Eastern today that can also create some market turbulence. Asian markets closed mixed, but mostly modestly lower and European markets are currently seeing modest declines across the board as the world waits for the Fed Chairman to speak. As a result, US Futures are also suggesting a bit of pensiveness pointing to a modestly lower open. Plan your risk carefully.

On the Calendar

On the hump day Earnings Calendar, we have 12 companies stepping up to report results. Amon the notable reports will be BBBY and MSM.

Action Plan

Today will be a very big day for Fed Chairman Jerome Powell as he testifies in Congress. He will be walking a slippery tight rope between Washington D.C. and Wall Street trying to uphold his mandate while trying to appease both worlds. Certainly, a tough task that is likely to create some market volatility today and tomorrow. I expect him to lay out a case for possible rate cuts due to a weakening global economy. However, I also expect him not to provide us the certainty of a cut or how deep that cut might be if the data moves them to that decision.

If that’s not enough to give the market a case of indigestion then lest toss in the release of the FOMC minutes at 2:00 PM Eastern to keep everyone guessing. As I write this futures are a bit pensive suggesting a modest pullback at the open as we wait for the Capital Hill drama to unfold. Trends in the DIA, SPY & QQQ remain bullish while IWM continues to struggle with an overall downtrend. Plan your risk carefully and remember Earnings season kicks off next Monday.

Trade Wisely,

Doug

BABA and INTC

July 10, 2019 by Rick Saddler

Life is Simple Just Add Water. Yesterday 7/9/2019 we bought BABA near the lower red T-Line support band and ended the day up 3.3%, a few more buyers and follow-through would make chicken and gravy. We also bought INTC yesterday 7/9/2019 near the lower red T-Line support band, up for the day 2.6%, let the games begin. AMD up 13.9% is working hard to challenge the June 10, candle. SNAP up 18.1%, holding in the T-Bands with a Doji close yesterday. WBA is walking up the Green T-Band looking for a breakout.

👉 Full disclosure, we are actively trading all stocks mentioned in the above paragraph. We may close or add more at anytime. To learn more about us or join in on the live trading room consider an HRC membership or trial

👉 Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.

Pre-Market Thoughts

After papping down, the SPY closed up 0.37 still floating in the T-Bands and the T-Bands are still trending up. Yesterday candle closed over the previous candle putting a bullish spin on the chart pattern. Now If only the market likes what the FED has to say we could see the $300.00 number tagged and a J-Hook Continuation pattern drawn. Below the Blue band, the Red lower band will be the target ($293.00ish) The VXX chart is trying to hold a bottom but shows no fear at all. If fear kicks in we should see the VXX chart move above $25.10. We are still prepared for chop today while managing our positions.

😊 Have a great trading day – Rick

The LTA Alert Scanner and TC2000 are my tools of choice WHY? Because they work!.

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for for the QEP → (QEP) Quality Entry Patterns). OPK, BIIB, BSX, V, MA, BX, KTOS, ARLO, IOVA, AIG. Check Earnings!

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.

✅ A Traders Edge In All Markets

The LTA Scanner can filter out charts that are trending, up or down and alert on charts that have Candlestick signals and patterns, western patterns and when indicators, such as MACD, Stochastics, RSI or Bollinger Bands have crossed or reaches the desired level. 😎 One of my favorites is the T-Line Band Scan. The right tools for the job.

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Chop For A Couple Days?

July 9, 2019 by Rick Saddler

Picked up a little AMD yesterday; AMD alerted from the LTA Scanner Friday with a Bullish Engulf T-Band Breakout and yesterday demonstrated follow-through. We also picked up WBA yesterday with the (RBB) strategy; price is riding the green T-Band line and a Pop Out of The Box Breakout pattern. TGT is still trapped in the Bands now challenging the Green line for a breakout. SNAP holding above price support with a Doji yesterday; follow-through could kick price above the green line for a nice profit.

Full disclosure, we are actively trading all stocks mentioned in the above paragraph. We may close or add more at anytime.

Pre-Market Thoughts

The SPY closed down a Buck .64 yesterday with a Doji between the green and blue T-Band lines. A close today below the blue mid-Line will put the lower red line in the crosshairs. Price above the lower red line keeps the buyers fairly happy, a close below the lower red line will cause some bull discomfort, and the VXX will become active. The 60-Min chart is suggesting $293.05 could be tested before the days end. I suspect the SPY is reluctant to charge upward until it hears what J. Powell has to say about future rate cuts and timing. We are prepared for a choppy couple of days (are you?) The VXX chart has had very little interest by buyer. However, a close above $25.10 will put the VXX chart in the conversation.

😊 Have a great trading day – Rick

The LTA Alert Scanner and TC2000 are my tools of choice WHY? Because they work!.

Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.

Trade-Ideas

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.

✅ A Traders Edge In All Markets

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

Powell front and center.

July 9, 2019 by Doug Campbell

Fed chairman Jerome Powell will be front and center as he makes his rounds testifying on Capitol Hill. Most expect him to defend the Fed’s independence from the administration and of course many are hoping he will clarify the possibility of a rate cut. With such a strong Job number last week expectation of a 50 basis point cut has dropped significantly. Also, remember we could learn a bit more about the Fed’s thinking Wednesday afternoon with the release of last meetings minutes.

Asian markets closed mixed, but mostly lower overnight and European markets are currently seeing red across the board this morning. US futures are under some pressure this morning suggesting a lower open though recovering slightly from overnight lows. Of course, anything that might clarify a rate decision could move the market short of that I expect choppy price action to continue as we wait for the kickoff of 3^rd quarter earnings season.

On the Calendar

We have just over 20 companies reporting on Tuesday’s Economic Calendar. Among the notable reports are AYI, JEF & SMPL.

Action Plan

Yesterday proved to be about as expected with the market taking a little break with choppy consolidation price action. Today Powell will begin a 3-day round of testimony in Congress where he is likely to defend the Fed’s independence from administrative meddling. All eye are on the Fed these days with the hope of a pending rate cut. There seems to be a revolving door on the news agencies with talking heads both for and against a cut. Even Cramer chimed in on the subject to say he is not sure there will be a cut. Perhaps we will learn more from the testimony and the release of the FOMC minutes Wednesday afternoon.

Futures are slightly under pressure this morning as tech’s slide south amid some downgrades. However, current trends remain bullish even though there are reasons to have a little concern with price patterns in the QQQ and IWM. I continue to expect mostly choppy price action that holds support levels as we wait for clarification on rate cuts and the kick off to earnings season.

Trade Wisely,

Doug

Disappointment

July 8, 2019 by Doug Campbell

The market is showing a face of disappointment this morning as it would appear to favor an accommodating FOMC rather than strong jobs growth. Asian markets closed lower across the board overnight in reaction the better than expected US Jobs growth. European markets are currently mixed but mostly lower as Deutsche Bank announces huge job losses as it restructures the business.

US futures point to a modestly lower open this morning recovering significantly from overnight lows as we approach the days open. Light economic and earnings calendars will provide very little for the market to react to this morning. Considering the kick off the earnings season is just one week away, and the current rally appears a bit stretched, a little consolidating price action might be in order. I would also not rule out a test of the overnight futures low.

On the Calendar

We begin the new trading week with a light day on the Earnings Calendar that includes only six reports. Of those reporting, none are notable and likely to move the market.

Action Plan

Markets appear a little disappointed this morning that the US economy is strong, jobs growth is better than expected and the chance that an FOMC rate cut has diminished. Although the strong jobs number initially triggered some selling on Friday, the Bulls still found the energy to fight back closing just below record highs. The question is, can the Bulls do it again today or will the Bears show some teeth?

With earnings season set to begin in next week, it could be rather quiet and choppy, consolidating the rally as we wait for the big banks to start the festivities. Speaking of big banks, Deutsche Bank (DB) announced a major restructuring Sunday that will cut between 18 to 20 thousand jobs in an effort to return to profitability. Shares are looking only slightly lower this morning. Strong trends remain in place for the DIA, SPY, and QQQ and though the rally may be a bit extended don’t expect the Bulls to give up easily.

Trade Wisely,

Doug

J Powell on the Hot Seat

July 8, 2019 by Rick Saddler

Starting Wednesday Jerome Powell is on the hot seat in front of Congress. Earnings season is in the air, so let’s dig out our earnings trading rules. Not much change from last week we did close DIS with the intention of buying it back. PFE is stuck in the trending T-Band Trap. We are up 16% on SNAP and SNAP looks like it wants to be above $15.80. TGT finished last week in good shape running up the lower T-Band. X has been a bit of a pain but Friday it did perform well with a Bullish Engulf and on support. A few stocks we are actively trading and happy to share them with you. Note not all trades are for everyone.

Pre-Market Thoughts

Friday the Buyers took control and closed the SPY above the Open Friday, but could not push us above Wednesday’s close. The trend is still bullish as the players try to push the SPX SP-500 across the 3000 line. For the most part, a SPY close above $294.70 is bullish, below $294.70 would set up a lower band line test. Warning – Earnings start this week. That’s right it’s that time again, earnings, earnings, earnings. The VXX has been dead as a doornail; there simply has not been any fear in this market. Seems to be Bulls everywhere don’t know about you but that makes me a little nervous. Still, we trade the charts for short term profitable swings, not predicting what the future will bring without a chart to back it up.

😊 Have a great trading day – Rick

The LTA Alert Scanner and TC2000 are my tools of choice WHY? Because they work!.

Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. Trade smart and wait for for the QEP → (QEP) Quality Entry Patterns). SNAP, ZS, CPB, CTL, WP, TROX, GPS, DXC, VNOM, STNG

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.

✅ A Traders Edge In All Markets

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching

All about the Jobs Number.

July 5, 2019 by Doug Campbell

At 8:30 AM Eastern we will get a very importing reading of the condition on the strength of our economy and the number of jobs it did or didn’t create. If the Employment Situation number comes in weak it could provide the FOMC hammer to drive down interest rates in July. A strong number could make an interest rate cut difficult if the US Economy continues to show resiliency in the face of a slowing global economy. One thing for sure is that the number is likely to receive a significant price action response upon its release and may well set the direction to today’s market.

Asian markets were a bit subdued last night closing mixed up mostly higher. European markets are currently lower across the board and US Futures point to a modestly lower open ahead of the jobs number. The trends are bullish with DIA, SPY and QQQ breaking out to new all-time highs on Wednesday. The task ahead for the bulls is now to prove they defend this new price level with a worrisome earnings season beginning in 10-days.

On the Calendar

On the Friday Earnings Calendar we have 16 companies stepping up to report quarterly results. None of the reports today are particularly notable unless you happen to own them.

Action Plan

The key focus this morning will be the Employment Situation number at 8:30 AM Eastern. If the number comes in weak it would seemingly provide the FOMC with the cover needed to lower the interest rate next month. However, the consensus estimate is suggesting that the number could come in strong with nearly double the jobs creation from last month. No matter how the number comes in it’s how the market reacts to the data that important.

At the close on Wednesday the bulls were in full control setting new all-time high records in the DIA, SPY and QQQ in a show of force rather remarkable considering the holiday-shortened trading day. Now that we have the breakout it will be important for the bulls to hold these new levels as price support. That may be a difficult task with so many companies warning they will miss analysts estimates when earnings season kicks off in about 10-days.

Trade Wisely,

Doug

June Payroll Numbers

July 5, 2019 by Rick Saddler

The June Payroll numbers are out today, might or might not impact the market, the charts tell the story. We closed DIS to fill the need to put a little folding money in our pockets ahead of the 4^th weekend, but we are seriously looking at buying it back next week. PFE still in our bullish T-Line Bands currently up 13%. Wednesday before the close we bought SNAP, a beautiful T-Line Band breakout followed by a flag Pootb chart pattern. X is surely testing my patients; perhaps it is building an Inverted Head and Shoulders, time will tell. A few stocks we are actively trading and happy to share them with you. Note not all trades are for everyone.

Pre-Market Thoughts

Likely a slow day while most of Wall Street is still on the 4^th of July Holiday. I myself will only be here in the morning and the first couple of cups of coffee. Thinking about going fishing today. The SPY busted out Wednesday almost claiming the $300.00 mark, beautiful support bounce off the upper T-Line Band that is drawing a J-Hook Continuation pattern. Price action today will likely be pulled into Monday and Mondays price action will be important. The VXX chart seems perfectly happy sliding downhill, of course until it’s not.

Have a great trading day – Rick

The LTA Alert Scanner and TC2000 are my tools of choice WHY? Because they work!.

Rick and the HRC Members kick off the trading room starting at 9:10 Eastern We review the market, and today’s trade ideas.

Trade-Ideas

For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. SNAP, EVRI, CPB, SWCH, TRP, UAA, WM, WP, → (QEP) Quality Entry Patterns)

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.

✅ A Traders Edge In All Markets

Free YouTube Education • Subscription Plans • Private 2-Hour Coaching