Bulls Making A Break For It On A Bullish Piercing Candle

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✅ SMS text alerts and reminders?👈

✅ 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.

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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.

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 hits keep on coming!

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The hits keep on coming

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?

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✅ 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👈

$50.00 discount with code: Privilege

🎯 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

Inside Day

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✅ SMS text alerts and reminders?👈

The market (SPY) is trapped between $281.95 and $284.00 a 13 point range. The buyers are trying to get price back above $288.70 then $294.00 while the sellers are trying to keep the price below $288.70 and $281.95. It is very tough to trade while the price is stuck in a range with price whipping back and forth. Another big challenge for both the buyers and sellers is all the damn tweets. Following the T-Line Bands can be beneficial when you’re trying to follow the trend.

#1 Trading Tool: The Live Trading Alerts Software is 100% instrumental to my trading. Finding the trades, entering the trades, managing the trades, and profiting alerts. Example: April 23, 2019, I pulled 30.5% off AAPL ahead of earnings. We love base hits! Trade Alerts with LTA has proven to be the #1 alert system in trading. Serious about making money? LTA will provide alerts to you in real-time on your computer screen based on what you are looking for. Candlesticks signal, chart patterns, or a combination of both and in different time-frames. Do you have a unique chart pattern? The team at LTA can create it for you. Read More Click Here

The I path Series S&P 500 VXX Short Term Futures ETN. VXX remains in a bullish stance, currently constructing a continuation pattern. 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. (long) AMGN, KR, TSN, KO, WMT, (short) CERN,, DHR,CPRT, KMX. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns). These Trade ideas are not recomendations.

✅ Check out our newest YouTube videos👈

$50.00 discount with code: Privilege

🎯 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

Lingering Uncertainty

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Lingering Uncertainty

Although the overnight reversal was a welcome relief from Friday’s selloff there remains a lingering uncertainty that there will progress made on trade negotiations.  We have been here before with high hopes only to see the negotiations breakup in a matter of hours.  Fool me once shame on you, fool me twice shame on me seems to be the attitude of the market.  It’s time to see some actual progress rather than platitudes and political spin.  Expect price volatility to continue as the indexes continue to deal with significant technical damage.

Overnight Asian markets closed mixed but mostly positive, and traders moved tentatively watching trade developments with caution.  This morning European markets trade cautiously mixed as well this morning as the world waits for some clarity.  US Futures have recovered from early losses pointing to a relatively flat open ahead of earnings and Consumer Confidence reports. 

On the Calendar

On the Tuesday Earnings Calendar, we have just 37 companies reporting results.  Notable earnings reports today include ADSK, BMO, BNS, BNED, EV, FRO, HPE, SJM, and VEEV.

Action Plan

Yesterday’s relief rally on hopes of US and China re-engaging in negotiations was very nice but technically speaking very little changed.  While it’s encouraging that the indexes held Friday’s lows as support the overall downtrend of the indexes remains intact with significant price and moving-average resistance above.  While the President talks favorably about China’s desire to make a deal, there is a palpable uncertainty by the market. 

That uncertainty is justified because we have been here before only to be disappointed with negotiations attempts breaking up just hours after restarting last time.  That appears to be making the US Futures a bit tentative this morning pointing to a flat open.  Expect volatile price action to continue as the market continues to hope for but still waits for clarity. 

Trade Wisley,

Doug

Willingness to Return!

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Willingness to Return

A massive overnight reversal of market sentiment after China announces its willingness to return to the negotiation table and the President speaks favorably of a future deal.  Indeed very encouraging but I would expect the market to remain very news-driven as they attempt to hammer out the details.  There is obviously a lot at stake here for both countries so I would guess a completed deal could still be months away.

Overnight the Yuan slid to an 11-year low, and Asian markets experienced an ugly selloff across the board.  This morning European markets are mixed but have recovered from the lows after signaling the resumption of US-China negotiations.  US Futures, although fluctuating wildly, point to a substantial gap open ahead of earnings reports and a Durable Good number that consensus estimates expect will decline at 8:30 AM Eastern.  Hang on tight; the price volatility is likely to remain quite high this morning as the market reacts.

On the Calendar

On the Monday Economic Calendar, we have 30 companies reporting results with none that are particularly notable.

Action Plan

As China and US lobbed tariff bombs back and forth on Friday, it was looking pretty grim with the US Futures declining 300 points at the open yesterday.  However, during the night China trade officials called the US, interested in re-engaging in negotiations.  The future responded in kind not only recovering losses but as of now point to a positive open.  I’m not exactly sure how an agreement to talk warrants such a big change in sentiment, but I’ll take it and happy to see the change this morning.

Unfortunately, even with the big overnight reversal significant technical damage was created in the index charts with Friday’s selloff.  News of a trade deal could quickly correct the damage, but I doubt a return to the negotiation table will do the trick.  Both countries have a lot at stake, and I would expect a lot of tough talk in the near future as they try to hammer out their differences.  Expect more drama as this battle continues to unfold.

Trade Wisley,

Doug

Bitten By The Bear

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✅ SMS text alerts and reminders?👈

The market (SPY) was bear bitten Friday and tested the recent lows of early August which was our Dotted Deuce moving average. The bulls and bears are staring at a weekly failed high, Bearish Engulf Above $288.70 would indicate a relief rally may be underway, and under $294.00 we may see a shorting opportunity. A breakout of $294.00 could be a bullish setup to challenge $297.60 and the July highs. The market is in a rough place, and swing traders are in a rougher place, the China Tariff issue and mostly these damn tweets make it very hard to trade. They are a few ways to help; one way is to trade with less money risked or entirely in cash until the storm settles down a bit

Cup And Handle: The “cup and handle formation” is a bullish signal pointing to a continuation of the current trend. It may extend over several weeks or even months and contains specific attributes.
As with any continuation pattern, you rely on confirmation in one form or another. This may occur as a second technical price signal, a candlestick continuation, volume spike, or change in momentum.
There are several parts to the cup and handle. First is the cup, which is a rounded bottom extending over time. As the shape of the cup is completed, expect the handle to emerge. Click for more Cup and Handle Information

The I path Series S&P 500 VXX Short Term Futures ETN closed Friday with bullish follow-through from Thursdays Bullish Engulf. We are bullish the VXX over $27.85 and the upper trendline.

😊 Have a great trading day – Rick

Trade-Ideas

✅ No trade ideas today. This market needs to simmer down. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns).

✅ Check out our newest YouTube videos👈

$50.00 discount with code: Privilege

🎯 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

Powell’s tightrope walk.

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Powell’s tightrope walk

FOMC Chairman Jerome Powell’s tightrope walk begins at 10:00 AM Eastern from the Jackson Hole economic policy symposium.  The entire financial world will be watching hoping to gain some clarity as to the committee’s future rate plans.  If the market perceives dovishness, we could end this choppy week with a nice rally.  Hints of hawkishness and can expect the very sensitive bonds to react negatively and emboldening the bears triggering an attack.  No matter what you want, the Fed to do, it would be wise to remain flexible and stay focused on the price action likely to become volatile.

Asian markets finished up their week positively even as tensions grow between Japan and South Korea and the Yuan dipped to new lows.  European indexes are cautiously higher this morning as they wait for Powell’s address.  As a result, US Futures have held positive all night long indicating a modestly bullish open with the hopefulness of a dovish FOMC.  How today ends up is anyone guesses but consider your risk carefully as we head into the weekend.

On the Calendar

On the Earnings Calendar, we get a little break with only 28 companies reporting this Friday.  Among the notables are FL, and BKE.

Action Plan

Today the market with turn all of its attention to Jackson Hole and the Chairman Powell’s address at 10:00 AM Eastern.  The market is seeking clarity of FOMC’s plans for rate cuts later this month and into the future.  If his speech comes off with a dovish tone, the market will likely react quickly with a bullish move to end a week of otherwise choppy and frustrating price action.  However it there is even a hint of hawkishness in his speech the bears could quickly attack, and bond yields could once again invert.  Indeed a difficult tightrope to walk for the chairman as the entire financial world watches. 

Yesterday the market chopped in lockstep with the bond rates.  Early in yesterday session bond yields inverted but later recovered as did the market.  This morning there is a slight improvement in yields with the hopefulness of an FOMC action.  The indexes are still facing the challenge of overhead price resistance and their respective 50-day moving averages.  Prepare for volatility as Powell speaks and consider your risk carefully as we head into the uncertainty of the weekend.

Trade Wisley,

Doug

Powel, Friday, weekend. What could go wrong?

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Yesterday we sent a text alert for SHAK. So far we are up 10% or $300.00. I will keep you updated if you are in the trading room or if you have subscribed to the free text messaging service. Get for free text alerts

✅ SMS text alerts and reminders?👈

The Pinball Set-up: Imagine that you are at a pinball machine. You grab the plunger, pullback and the silver pinball falls back against the plunger paddle. Then you let go of the plunger and the silver pinball catapults up and away from the plunger to hit various targets or bumpers. The pulling back on the plunger builds momentum for a brief opposing move. The bumpers are resistance areas as the silver pinball moves higher. Eventually, the pinball loses momentum and falls back. This visual is the basis for the Pinball Set-Up strategy. Click for more Pinball Set-up Information

The market (SPY) has been bouncing between our Dotted Deuce (200-FWL) period moving average and the 50-SMA period moving average. Mr. Powell is set to speak this morning from Jackson Hole. I suspect the information given today will either pop or drop this market. Above the 50-SMA period M/A we should see a challenge of the July highs and below the 200-SMA period M/A I can see a test of $260.00 after a few drops and relief rally pops. This is a market where a trader must be nimble and follow his/ her rules very close. I know we don’t like to take losses but ask your self when is a $100.00 loos the best trade of the day?

The I path Series S&P 500 VXX Short Term Futures ETN closed yesterday with a Bullish Engulf, without bullish follow-through we don’t have much. Over $26.30 would show fear in the market, and we would look at long VXX trade and adding a few shorts to our portfolio.

😊 Have a great trading day – Rick

✅ Check out our newest YouTube videos👈

Trade-Ideas

✅ No trade ideas on Fridays. Enjoy your weekend with pie, good friends and family and a cold one. Trade smart and wait for the QEP→ (QEP) Quality Entry Patterns).

$50.00 discount with code: Privilege

🎯 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

Pop and Chop

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Pop and Chop

I think the best description for the price action of late is Pop & Chop.  An exciting gap up market open followed by sheer boredom as uncertain bulls and bears milling about waiting for the next tidbit of news hoping for clarity.  The FOMC minutes provided no clarity, and now it looks like the best hope for inspiration is the Powell address at 10:00 AM Eastern from Jackson Hole.  I would not be at all surprised is we see more of the choppy price action today as we wait.

Asian markets closed mixed overnight as manufacturing data showed a decline putting pressure on the Nikkei.  Across the pond European indexes are seeing modest declines across the board in reaction to another US bond yield inversion.  Here in the US, futures also point to modestly bearish open ahead of morning earnings reports and the weekly Jobless Claims. 

On the Calendar

We have more than 50 companies reporting earnings this Thursday.  Among the notable reports are CRM, VMW, GPS, HPQ, INTU, ROST, DKS, FLWS & CM.

Action Plan

After great earnings results from LOW and TGT gaping the market higher at the open the price action once again went flat and chopped sideways the rest of the day.  The FOMC minutes release was a non-event providing no further clarity as to interest rate path forward.  Perhaps, Powell’s address in Jackson Hole Friday morning will provide enough inspiration the shake loose of the summer doldrums. 

Once again the US 10-year bond rates have slightly inverted with the 2-year bond rates, but the market seems to be taking it in stride this morning lifting off the overnight lows slightly while still pointing to a modestly bearish open.  However, that could easily change a earnings result roll in, and we get the latest reading on Jobless Claims.  Overhead resistance of price and moving-averages continues to challenge the index charts clearly defining the battlefield of the bulls and bears.  Although price action has been very challenging, let’s keep in mind the Dow is less than 5% below its record highs in July, which is a pretty mild correction at this point.  Nonetheless its have still been very frustrating, and I would expect more chop today amid so much uncertainty.

Trade Wisely,

Doug