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Resistance Breakout Today

September 5, 2019 by Rick Saddler

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The market (SPY), With futures up this morning on Trade Talk meetings and some Hong Kong headway we will see a breakout of the early August resistant level. And I am sure you know how crucial bullish control and follow-through is. Bullish follow-through above about $294.25 could run back price action into the $300.00 area for a July high challenge. Please note this is all based on the bulls taking the ball back. We are only one tweet away from 300-500 point moves in this crazy market. If you follow the T-Line Bands the SPY weekly chart, you can see the last 5 bars testing the lower red line, challenging the mid-blue line.

Trading The T-Line Trading the T-Line, also known as the trigger line or trend line, works well for all trading plans and investment strategies. If you want to embrace this strategy, look into (what I call) the T-Line run. T-Line runs can be very profitable if you know how to identify them and use them properly. Curious? Read on to learn more about the types of T-Line run, get some helpful application tips, and learn how to confirm your trades to make smart entrances and exits. Trading The T-Line

The I path Series S&P 500 VXX Short Term Futures ETN. The VXX weakness yesterday closed below the 34-EMA, and today the bearish price action in the VIX should pull the T-Line down with it. The price action the vix is demonstrating the lack of fear trader now have.

Trade-Ideas

For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. SFM, CVS, COST, SHAK, TLRY, PG, CMG, ZAYO, UPS, KR. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). We do not recommend stocks to trade

😊 Have a great trading day – Rick

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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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Another overnight reversal.

September 4, 2019 by Doug Campbell

I guess at this point we should not be surprised to see yet another overnight reversal and once again confirming traders cannot trust price the price action from one day to the next. After the market closed yesterday we learned that Parliament voted to take control of the government and will today attempt a vote to block a no-deal Brexit attempt by the Prime Minister. We also learned that Hong Kong has finally withdrawn the China extradition bill that sparked so much public unrest.

Asian markets closed higher across the board last night with the HSI zooming up 995 points after the withdraw of extradition bill. European market sees green across the board, and the Sterling has recovered after the UK Parlement vote blocking the Prime Ministers no-deal Brexit plans. Consequently, US Futures point to a gap up with the Dow currently expected to open about 200 points higher ahead of earnings and a full of FOMC speakers.

On the Calendar

On the hump day Earnings Calendar, we have 26 companies reporting quarterly results. Some of the notable reports include WORK, AVAV, AEO, HOME, CLDR, MIK, PANW & VRA.

Action Plan

Tuesday morning brought out the sellers after manufacturing numbers declined, but the bulls found some inspiration recovering slowly but steadily throughout the afternoon. Tensions are high today in the UK after a majority voted to take control of Parliament. The action blocked the Prime Ministers plans to suspend Parliament forcing a no-deal Brexit. Later today Parliament will vote in an attempt to block the Boris Johnson no-deal plans scheduled for October 31. We could see US market volatility as a result. Hong Kong markets experienced a huge rally during the night when leader Carrie Lam announced the withdraw of the conversational extradition bill.

As a result of all the overnight news, US Futures point to a bullish open ahead of earnings reports and the International Trade numbers set for 8:30 AM Eastern release. Consensus estimates suggest a decline in the trade deficit in July. We also a full day of Fed Speakers between 9:30 AM and 3:15 PM with a total five FOMC members on the calendar. All in all just another day of market turmoil with yet another overnight reversal gap making price action nearly impossible to trust from day-to-day.

Trade Wisely,

Doug

Wacky Wednesday

September 4, 2019 by Rick Saddler

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✅ At hit and Run Candlesticks, we focus on Stocks / Simple Directional Options

Still no real direction even with the futures being up this morning. Honk Kong is taking some of the concern off the table for the market but is it enough for the charts. Looks like we are receiving a price gap up this morning above the 34-EMA and below the 50-SMA, the end of day price action could be very important to the charts. A close above $294.00 would show positive bullish intent. While a close below yesterday’s Doji $290.45 would show bearish intent. I still suspect more chop and indecision awaits us, swing traders.

Bullish Mat Hold Pattern: Any wrestling fans out there? When you think of the Bullish Mat Hold pattern, think of the bears as a determined but fatigued wrestler, trying to hold the bulls to the mat. After gaining control of the bulls, they make a few short pushes to lower the price, but they are ultimately defeated. They simply can’t match the bulls’ tenacity! Although the Bullish Mat Hold is known to be trustworthy and true, it occurs infrequently. For help spotting this bullish continuation pattern when it does make a chance appearance, review the information below and keep your eyes peeled! .Read More Bullish Mat Hold Pattern.

The I path Series S&P 500 VXX Short Term Futures ETN. A close today above the 34-EMA keeps the VXX in a bullish chart pattern, a close above $28.85 would spark fear.

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. MLM, WB, SUM, DVAX, WDC, CVS, Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). These Trade ideas are not recommendations.

😊 Have a great trading day – Rick

✅ 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

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

More storms than expected.

September 3, 2019 by Doug Campbell

While all eyes focused on the approaching Florida storm it seems there was another storm brewing in currency markets this weekend. The British Sterling dropped by $1.20, and the Euro slipped to a 28-month low not to mention Argentina that is nearing total financial collapse and Lebanon declaring a state of economic emergency. Certainly, an uncomfortable backdrop for the market as new US-China tariffs took effect on Sunday and spilling August’s volatility into the beginning of September.

Overnight Asian markets closed mixed but relatively flat while Australia decided to keep interest rates unchanged. Across the pond, European markets are slightly lower across the board as they deal with the uncertainty of Brexit and the Sterling selloff. Here in the US, futures markets are trying to rally off of overnight lows ahead of a big week of economic data but still point to a substantial gap down open adding to the technical damage of the index charts. Hang on as the storm clouds continue to stir with uncertainty.

On the Calendar

On this morning’s Earnings Calendar, we have just over 34 companies reporting results. Notable reports include CONN & COUP.

Action Plan

An eventful holiday weekend as Hurricane Dorian as lashes the coast of Florida, Argentina nears financial collapse, the British Sterling falls below $1.20 while the Euro slides to a 28-month low and additional US-China take effect. The Market also faces a busy Economic Calendar beginning with Housing data as well as the ISM Index today and ending the week with the Employment Situation report Friday morning. It seems the market uncertainty that plagued August markets will spillover into September keeping traders on edge and price volatility high.

Although the US Futures are currently trying to bounce off of overnight lows, it seems likely markets will open with a substantial gap lower putting pressure on hopeful traders that picked up risk heading into the weekend. With traders possibly extending their holiday vacations and the disruptions that Hurricane Dorien could produce anything is possible. Keep an eye on the gap below that was created last Thursday that could easily fill if the bears find inspiration after the morning gap.

Trade Wisely,

Doug

More Chop, No Direction

September 3, 2019 by Rick Saddler

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✅ At hit and Run Candlesticks, we focus on Stocks / Simple Directional Options

The market (SPY), More chop and no direction, Friday the buyers had a chance to break out and stay out of the sideways channel they have been playing in, but instead, they started the day with a bullish bang and ended with a fizzle. Here is Tuesday morning after a 3-day weekend and the futures are pointing to a weak open possible below the 34-EMA. The question for the day is where we will close for the day? A close above $ 292.15 we would consider cautiously bullish and below $290.60 bearish

Bearish Dark Cloud Cover Pattern: Do you have an umbrella handy? When dark clouds are on the horizon, you know that a downpour could soon be on the way.

Similarly, when you spot the Dark Cloud Cover pattern on a Japanese candlestick chart, you need to anticipate the arrival of a bearish reversal. This candlestick pattern is somewhat easy to spot because its formation clearly reflects its name: at the end of an uptrend (i.e., a sunny day), a black candle appears (a “dark cloud”), heralding a reversal. Let’s learn a little more about this ominous signal… .Read More Dark Cloud Cover Pattern.

The I path Series S&P 500 VXX Short Term Futures ETN. A close today above the 34-EMA keeps the VXX in a bullish chart pattern, a close above $28.85 would spark fear.

😊 Have a great trading day – Rick

Trade-Ideas

✅ September 3, 2019, No Trade Ideas Today. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). These Trade ideas are not recomendations.

✅ 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

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

Labor Day Weekend!

August 30, 2019 by Doug Campbell

As the Labor Day weekend approaches the bulls look to extend yesterday’s rally with yet another substantial gap up open. The all or nothing emotional price action has become tiring and honestly ridiculous considering tariffs remain in place and negotiations have yet to begin. Having said that, it’s still nice to have a relief rally! The question now is, can it hold as traders head out for the long weekend, hurricane Dorian targets the Florida coast and growing uncertainty of earnings growth?

Asian markets closed the week mixed but mostly higher as Beijing signals a desire to come back to the negotiations table. European markets see green across the board on the easing of trade war rhetoric even as a no-deal Brexit threat grows. The US Futures are in celebration mode this morning pointing to another substantial gap higher of more than 100 Dow points. Be careful not to chase the open and don’t be surprised if the price action quickly runs out of steam and become light and choppy as traders head out to enjoy the long weekend.

On the Calendar

On the Friday Earnings Calendar we have just 14 companies reporting with BIG, CPB, and JKS among the notable.

Action Plan

Yesterday’s big rally is getting a big gap follow-through this morning extending the indexes into a short-term overbought condition according to T2122. With the Labor Day weekend just around the corner, volumes could quickly decline as traders take off early for the extended weekend vacation. Market emotions are high that a deal will be forthcoming, but a lot can happen over a 3-day weekend so plan your holdings accordingly.

According to forecasts, hurricane Dorian is likely to make landfall on the Flordia Coast Monday. For all our Flordia friends I wish you safety as you make preparations to protect your homes and property. It now appears the storm will slow down and strengthen so, and please don’t brave the storm, get yourselves to safety and wait it out. Dangerous storms such as this can have also have substantial market impacts that affect price action so prepare for more volatility come Tuesday morning.

Trade Wisely,

Doug

Willing to Negotiate

August 29, 2019 by Doug Campbell

China surprised the market at 5:30 AM this morning saying they are willing to negotiate to resolve the trade war sharply reversing the US Futures from overnight lows. Traders holding long positions will feel the sweet relief of a big gap up open. However, traders caught short will suffer and may experience the pain of a short squeeze. Though this is a very positive development, make sure to maintain perspective and not get caught up in the hype. Saying they are willing to negotiate is a long way from signing a binding deal, and there are likely going to be a lot of drama along the way.

Asian markets closed mostly lower overnight as Treasury yields continued to deteriorate. European markets reversed early losses after the China news and are currently green across the board the morning. US Futures leaped dramatically on the prospect of a China re-engaging in trade talks with the Dow Futures now pointing to a gap up open of more 250 points. Price volatility will likely be wild this morning, so stay disciplined to your trading plan and rules to avoid emotional decisions influenced by the drama this news has created.

On the Calendar

Sixty-three companies are fessing up to their quarterly earnings results this Thursday. Notable reports include DG, ULTA, ANF, ABOC, BBY, BURL, COO, DELL, DLTR, HAIN, TD, and WDAY.

Action Plan

Futures that had been bearish most of the night quickly rallied about 5:30 AM this morning when China says it willing to resolve the trade war and return to the negotiations table. Although agreeing to talk is a long way from agreeing to a binding deal to level the playing field for trade between the two countries, its certainly a positive step forward. Unfortunately, China has also decided to sent troops into Hong Kong. Lets’ hope this conciliatory action is not merely a distraction as they use force to put down the long-running protests.

Market bulls will, of course, be very happy this morning but bears caught short are likely to feel the pain of a short squeeze this morning. I would be careful not to get caught up in the hype, keeping in mind bond yields, Brexit and that an actual signed deal is still likely months away. Also for the market to digest is the big morning on both the economic and earnings calendars. Price volatility could be wild this morning, so plan your approach to the market carefully.

Trade Wisely,

Doug

Bulls Making A Break For It On A Bullish Piercing Candle

August 29, 2019 by Rick Saddler

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✅ At hit and Run Candlesticks, we focus on Stocks / Simple Directional Options

The market (SPY), The Bulls, are making a break for it, premarket price is over our $289.60 line, and we may even see the 34-EMA challenged today. A close over $294.00 would be a substantial bullish move and kick the bears in the teeth. But let’s take one step at a time. Price action yesterday was fantastic with a Bullish Piercing Candle, as always we need sustained follow-through. Don’t forget we have a 3-day weekend coming up and the Tariffs are slated for September 1, so they say. Yesterday I sent out a note Via TEXT on PFE, and we bought it going into the close. Are you registered for text alerts?

Bullish Piercing Pattern: First, there must be a clear and definable downtrend in progress for the pattern to qualify as a Bullish Piercing pattern. Second, the first candlestick (which appears at the end of the downtrend) must be a black (or red), bearish candlestick. Third, the second candlestick must be white (or green) and bullish. Fourth and finally, the second candlestick (the white one) must open below the black candlestick and close above the black candlestick’s midpoint. So if you mark a dotted line through the vertical center of the black candlestick, does the white candle close above it? If so, it can qualify as a Bullish Piercing Pattern. Read More About Bullish Piercing Pattern.

The I path Series S&P 500 VXX Short Term Futures ETN. The VXX closed with a Dark Cloud Cover, once again held back from the $30.25ish level. As long as the T-Line stays above the VXX, I will be concerned that the VXXX buyers have not entirely left.

😊 Have a great trading day – Rick

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. PFE, OLED, BAH, PBYI, TSM, HAE, XEC, JBHT, WB, FLT, KLAC. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). These Trade ideas are not recomendations.

✅ 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

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

The hits keep on coming!

August 28, 2019 by Doug Campbell

The hits keep on coming! There is a point in nearly every market selloff when it seems bad news continues to pile on with one hit after another. This morning we wake up to a worsening yield curve as the 30-year bonds hit new record lows. The Sterling rapidly falls as the Prim Minister confirms he is moving to suspend parliament, raising the risk of a no-deal Brexit. As if to add insult to injury, China has yet to confirm they will re-engage in trade negotiations as the president alluded to Monday morning. Yesterday’s pop and drop that left behind bearish engulfing patterns on the index charts sure didn’t help the technical’s or inspire much confidence.

Overnight Asian markets closed flat but mostly lower in reacting to the declining 30-year bond yields. European markets mostly lower this morning as Brexit fears rise and the Sterling falls. US Futures that had held bullish gains through the night now point to a flat slightly bearish open ahead of earnings reports. Caution continues to be warranted as you plan your day ahead.

On the Calendar

Wednesday’s Earnings Calendar has just over 70 companies reporting quarterly results. Notable earnings include BOX, COTY, DAKT, EXPR, FIVE, GES, HRB, MOV, PVH, TIF, VRNT, and WSM.

Action Plan

My goodness, there is a lot going on this morning affecting the market. The 30-year bond is hitting new record lows as the yield curve inverts even further. Most negatively are those on a fixed income, which may force many into higher risk dividend investments to make ends meet. The British Prime Minister Boris Johnson move to suspend parliament, causing the Sterling to fall and raising the risk of a no-deal Brexit. US Futures quickly pared overnight gains after Johnson confirmed the rumor in a speech today.

Yesterday’s pop and drop price action added some technical damage, leaving behind bearish engulfing candle patterns as another day passes with China not confirming a resumption of trade negotiations. I think the market must come to grips with the very likely increase from 25 to 30 percent tariffs. With little on the economic calendar today, there will little to distract the market from the yield inversion and trade war uncertainty. Plan your risk carefully.

Trade Wisely,

Doug

How Do You Determine A Trend?

August 28, 2019 by Rick Saddler

✅ SMS text alerts and reminders?👈

✅ At hit and Run Candlesticks, we focus on Stocks / Simple Directional Options

The market (SPY) How Do You Determine A Trend? First of all, ten traders can have ten different ways to determine a trend, and all ten can be right. (tip) A trend length must match your trading style. We can talk more about that in the trading room. Are your trendlines trending up or down? How about moving averages? I use the T-Line and the 34-EMA, go you your charts and look at the SPY with the T-Line and the 30-EMA, I see the T-Line (a faster-moving average) leading the 34-EMA down (a slower moving average).

Bearish Engulf: Imagine a mountain engulfed in flames. What a sight that would be! When I picture a Bearish Engulfing pattern, I think of that imaginary mountain. Prices are rising upward, creating one half of the mountain, a black candlestick engulfing a white candlestick at the top, and then the inevitable downward movement creating the other half of the mountain. This bearish candlestick pattern is essential for investors to know, and luckily, it’s easy to identify and interpret. We’ve already discussed its bullish brother, the Bullish Engulfing pattern, so today it’s time we gave the Bear its turn. Read More About Bearish Engulfs Click Here

TThe I path Series S&P 500 VXX Short Term Futures ETN. VXX remains in a bullish stance, currently constructing a continuation pattern one we call a Pop Out Of the Box Pattern (needs a couple more candles). Above $30.30, $34.25 could be captured.

😊 Have a great trading day – Rick

Trade-Ideas

✅ For your consideration: Here are a few charts I thought should go on the watch-List, remember to trade your trade. (short) UPRO, EGHT, EHTH, MCK, AXSM, PAYS. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). These Trade ideas are not recomendations.

✅ 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

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