Blog - Page 260 of 641 - Hit & Run Candlesticks

Relief Rally Warrented

May 24, 2019 by Rick Saddler

#1 Alert scanning tool in the world was the key to profiting 35% in ROKU, 34% in SPY Puts, and 51% in TZA yesterday. It’s Friday the start of a 3-day weekend Honoring the men and women who died while serving in the U.S military.

Yesterday the trading gods gapped us down out of and below the T-Line Bands to a $280.57 in the SPY before closing a bit higher at $282.14. The morning futures are pointing to a higher open. As of yesterday the recent low of May 13, is safe but will it last? The current trend is still weak, with price below the Bands and a bearish trend line above. The T-Line is below the 34-EMA, and the 17-EMA has breached the 34-EMA as well. The T2122 chart dropped to 10.6 yesterday triggering an oversold condition, and a relief rally is warranted. The VXX chart produced a Bull Kicker yesterday from a higher low pull back closing in the now bull trending bands, keep your eyes on the VXX chart, it can be very telling.

5/24/2019 Acton Plan

Ease up on trades over the long weekend
Continue to build a watchlist for the weeks ahead using the LTA Scanner.
Clean up the Harley for a ride this weekend
Study charts in the HRC trading room

HRC Monthly service only $110 with this promo code: SAVE50

Trade Ideas-No trades Ideas On Fridays

I hope everyone has had a profitable week, if so please let us know. If not we are here to help but we have to hear from you. Reach out to us we are here for you.

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Overnight Gaps

May 23, 2019 by Doug Campbell

I don’t know about you but I am becoming weary and frustrated with the daily overnight gaps and this morning we have another big one. Asian markets closed lower across the board as the country stepped up their rhetoric increasing trade war tensions and elevating market fears that this could go on and on. European markets are currently trading in red across the board as well with their added political uncertainty.

As a result the US futures point to a Dow gap down of more than 200 points at the open with the tech sector getting hit particularly hard. As always we must be careful not to chase the gap but wait patiently to see if sellers support the gap or if this another bear trap as we’ve experienced several times during this downtrend. With all the overnight gaps and reversal swing traders have little to no edge and although the price action has been very challenging it currently favors experienced day traders. Be very careful and remember a big part of a traders job is to protect your capital and if you have no trading edge then that becomes job number one!

On the Calendar

On the Earnings Calendar we have over 50 companies reporting results today. Notable reports include, BKE, DXLG, FL & HIBB.

Action Plan

Another day another overnight gap and today it’s a doozie as trade war tensions grow. Over the last few days there has been a growing hope that the indexes could recover their 50-day moving averages. Unfortunitually, today’s gap down confirms the failure a raises the odds of a retest of May lows and the possibility of even a deeper selloff. The current rhetoric coming from both countries suggests this stalemate in negotiations could be long-lasting.

As with any large gap be careful not to chase it short. We must be patient making sure sellers support the gap after the open. This morning’s move certainly has the potential to create some panic selling so keep an eye on the VIX if it begins to spike. In the last couple of weeks we have also seen large morning gaps bring in the bulls to defend the morning low creating a significant rally. Of course to this point those rallies have not proved to hold but has it has made this market downtrend particularly challenging for traders. Day traders have the upper hand in the current market as the daily reversal gaps make it nearly impossible for swing traders to have an edge.

Trade wisely,

Doug

Bears Defending Blue Ice Failure

May 23, 2019 by Rick Saddler

Live Trading Alerts Scanner update v1.17.422 is available; We are still holding ROKU, SPY puts, TZA, XRX puts, GE, and PEP they were all brought to us via the LTA Scanner like a waiter brings a cold beer and Steak. The right tools for the right job.

It looks to me that the SPY still has a date with our pair of deuces $277.40 – $277.8. The Bears are defending the Blue Ice failure pattern pretty well; the T-Line Bands are being driven by a bear with price action below the red and green line. The T-Line is below the Volatility Dots, and yesterdays candle action closed below the T-Line. The T2122 chart (4wk New High/Low Ratio) has dropped to about 26, and it’s moving average is being pushed down as well. I have heard from many traders they are having trouble, so am I, remember to for trades that are working in your favor and the goes for the overall market, have you looked at IYT, IWM lately.

5/23/2019 Acton Plan

Manage the trades I am in
Don’t trade the first 30-min of the market, unless it is for a chart I already own
Trade smaller, less capital in a position
Fewer positions
Longer lunch (LOL)
Trade strong, stable charts, not one-day wonders
Trade with the trend of the chart
Trade for base hits
Stops, always have a stop plan
Ise the Scanner with built-in rules to find short and long trades

Trade Ideas

We are adding the following trade ideas to our watch-list. Be sure to check earnings dates. SE, ERY, DUG, SHOP, KO, PEP, GIS, LRCX, W, XRX Trend, Protective Stops, Base hits.

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

Power Outage

May 22, 2019 by Doug Campbell

No written blog today due to a power outage at my home. I had it almost completed when the power went out for a few minutes and everything was lost. Grrr. 😜

On the Calendar

On the earnings calendar we have several notable reports. They include AAP, CTRP, LOW, NTAP, SCVL, SMRT, TGT, VFC & VIPS.

50 Pounds of Moving Average

May 22, 2019 by Rick Saddler

We bought Roku a few days ago after the LTA scanner popped an alert yesterday we are up 21.1% What would you expect from the #1 Live Alert scanning tool in the World. I would be more than happy to teach how I use the LTA Stanner. Watch for a 4-hour clinic, coming soon.

The SPY closed a bit higher than the day before but not over the 50-SMA and the $290.98 line we talked about yesterday. Price action has not pushed through the T-Line Bands, and the V-Stop Dots are red. The VXX still does not show much fear on the daily chart other then it is set up with a low high and higher low all it needs is a reason, the conditions are in place. The player, SPY, DIA, QQQ, IWM, SMA, IYT already have 50-pounds of moving averages on top of them.

Acton Plan, Trade Toughts To Today

Manage the trades I am in
Don’t trade the first 30-min of the market, unless it is for a chart I already own
Trade smaller, less capital in a position
Fewer positions
Longer lunch (LOL)
Trade strong, stable charts, not one-day wonders
Trade with the trend of the chart
Play with base hits
Stops, always have a stop plan

Trade Ideas

We are adding the following trade ideas to our watch-list. Be sure to check earnings dates. FAS, ERX, AMJ, XHB, PAYX, NWL, CNC, HES, Trend, Protective Stops, Base hits.

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

Tech Relief

May 21, 2019 by Doug Campbell

A 90-day grace period added to the technology ban with Huawei has the lifted the spirits of the futures market this morning and relieved some of the strong selling pressure in the NASDAQ. Futures are pointing to more than a 100 point gap up open in the Dow and the NASDAQ is showing at least a partial recovery of yesterday’s rout. However there is still significant technical damage in the charts and with US/China negotiations stalled, repairing the damage could take some time.

Price action continues to be very challenging with what seems almost daily overnight reversals and big gaps. Swing traders are likely finding it very difficult to maintain an edge of any kind as the volatility favors the quick in out of day trading avoiding the overnight risk. Remember don’t fight the market and don’t trade just to have something to do. Remain disciplined to your trading plan and profit your capital until your edge returns.

On the Calendar

On the Earnings Calendar we have more than 70 companies reporting with a big emphasis in retail for the rest of the week. Among the notables today, KSS, JWN, CRMT, EV, HD, JCP, TJX, TOL and URBN,

Action Plan

After the close yesterday a 90 day grace period was added to the Huawei blacklisting to relieve some pressure on the US tech companies. This exemption allows Googe to send software updates to Huawei phones which use its Android operating system through August 19^th. As a result NASDAQ futures are recovering substantially this morning and lifting the spirits of the other major indexes as well.

Unfortunitually the divide between the US and China trade negotiations seems to have grown and according to reports the trade war could get worse before it gets better. Despite that US futures are pointing to a positive open this morning but keep in mind there is still significant technical damage in the charts that will likely take some time to repair. The overnight reversals and volatility continue to favor the very nimble day traders and making it challenging for swing traders to matain an edge of any kind.

Trade Wisely,

Doug

Challenging The 50-SMA

May 21, 2019 by Rick Saddler

Special 50% discount – Availability Limited to 10 traders

Futures are up this morning as this blog is being written. Looking at the SPY (weekly chart) it is clear to see price on a support and the 23.6 Fib line. (Not too surprised of a bounce and a test of the 50-SMA) The daily chart has the 200-SMA 2.3% below yesterdays close, and the daily Blue Ica failure is still in the game. Bullish price action would have to close above $289.20 for the buyers to be in control. In my humble opinion, anything less than $289.20 would keep the current downtrend intact. The T2122 chart is now in an oversold area; buyers are starting to peck around, but will they be able to give us a solid close in the next day or so over $289.20? Remember base hits and protective stops. Set a plan 2:1 minimum and when long buy near support and when shorting buy near resistance. The market of late has been challenging for even the best of traders, ask them what their tricks are to survive.

Trade Ideas

We are adding the following trade ideas to our watch-list. Be sure to check earnings dates. COST, SYF, PEP, BX, AXP, LMT, MA, MET. Trend, Protective Stops, Base hits.

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

Nervous Tensions

May 20, 2019 by Doug Campbell

Stalled US/China trade negotiations continue to ripple around the world as the nervous tensions grow amidst the uncertainty of it all. After the blacklisting of Huawei’s devices, Google has suspended business activity with the Chinese device maker essentially blocking it from global growth and inflaming already difficult negotiations between the countries.

Tensions are also on the rise with Iran with the president’s warning of the end of Iran if they raise arms against the US. As John Wayne would say, they’s fightin’ words! Hopefully cooler heads will prevail but once again the uncertainty is not something the market likes so keep an eye on the VIX if fear begins to grow. A failure at the 50-day average in the index chart creates significant technical and psychological damage that can take weeks if not months to repair. Choose your risk carefully.

On the Calendar

On the Earnings calendar we have 80 companies expected to fess up to results. Notable earnings include IGT, TTM & TI.

Action Plan

Futures that initially pushed higher by nearly 120 points in early trading reversed overnight as trade war tensions continue and saber rattling with Iran grew over the weekend. Potentially damaging technical price patterns let behind on Friday’ index charts could bring out the bear this morning unless there is something that can inspire the bulls in the lead up to today’s open.

Unfortunately there is nothing on the economic calendar to inspire and although there are some notable earnings reports today they are unlikely to market moving events. That means the market will likely be very sensitive to news reports and tweets today opening the door to volatile price action. Remember is unwise to chaise a gap so let’s wait and see if sellers come in to support the gap before making any new trade decisions.

Trade Wisely,

Doug

Performing A Balance Act

May 20, 2019 by Rick Saddler

It looks has been performing a balancing act around the 50-SMA for the past nine days, all below its recent high. A close above $290.50 could set the bulls free to challenge the $294.95 high. Weakness and a failure to claim the 50-SMA for the Bulls could lead into chart patterns such as a “Blue Ice Failure” and a “Bearish H Pattern.” Both of these patterns are on the edge of success and could push price closer to the 200-SMA or about. The T2122 chart (3wk New High/Low Ratio has not turned up from the recent down move. When looking at the VXX on the daily chart, it looks like like it has been through a meat grinder, but the chart pattern is still holding a bullish form. To say this market has been easy to trade the last couple of weeks would be a flat out lie. It’s important to know when duck into a cove, tie up and wait out the storm.

Trade Ideas

We are adding the following trade ideas to our watch-list. PEP, GIS, CMCSA, PLUG, MDB, CELG, ATHM, SQQQ, TZA, SOXS, XRX, VXX, SPXS. We follow the trend, buy near support, profit into strength for solid base hits.

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

Determining the Trend – Simple Indicators That Work

May 19, 2019 by Doug Campbell

Finding a trending chart and waiting for the next entry is the easiest way to make consistent profits in the market. In this live E-learning class we focused in on a few simple indicators that work very when determining the trend of stock

Simple Indicators That Work – E-Learning Replay