Good Grief!
Sorry everyone but due to a technical problem there is no blog post this morning. However, the morning video is available with the link below.
Teamwork and Four Sisters
A mixed bag of trading lately, both longs and shorts are working. This goes to show you the indecision and lack of conviction and teamwork with the four sisters. Let’s take a look at the T-Line Bands trending direction in the SPY, DIA’s IWM and QQQ’s. You can see both the SPY and the QQQ’s are trending up while both the DIA’s and the IWM charts are trending down. Two charts not show is the VT and VTI, both are barely in a bullish trend. The point I am trying to make is the market is a bit flustered with subjects like Recession, Feds, World economy, Politics, Trade war, Earnings. Here are a few solid trading tips: Trend, Price Action, Candlesticks, Chart patterns, Support and Resistance, and Strategies. Think before you trade, plan your trade and trade your plan. If that is confusing for you, let us know maybe we can help.
HRC Road To Wealth
The Road to Trading Wealth can take several different paths; it’s important to find what works for you. The Trend, Price Action, Candlesticks, Chart patterns, Support and Resistance, and Strategies is the map we use to stay on the Road To Trading Wealth. Patterns and Strategies such as The Rounded Bottom breakout, The Continuation Pattern, Trending, T-Line Bands, and the Red Green Strategies are a few of our favorites. Patterns like J-Hooks, Pop Out of The Box, The Oreo, The Fig Newton, Candlesticks are some of our favorite patterns.
✅ Trade-Ideas for consideration: COTY, EA, FDC, GG, HES, QCOM, ROKU, SEE, W
Live Trading Alerts News
Testimonial
Took 20% on WIX puts! Thank you LTA- Live Trading Alerts
Jerry G.
Testimonial
I have hit for over $300 this morning using your LTA scanner, I think I have found my niche!
Coach B.
✅Save time reviewing hundreds of charts. ✅Find EXACTLY the right set up by being alerted for only those tickers that qualify. ✅Stop “Chasing trades” by being alerted of the move (not finding out later.) ✅Eliminate “trouble pulling the trigger” (be sure when a ticker is moving.) ✅Stop “leaving money on the table” (manage your exits with lower-time alerts.) ✅Stop “Predicting” by trading alerts that show the turn, not forecast it. ✅Stop ignoring the overall market (by watching alerts on DIA, SPY, IWM, QQQ.) ✅Gain massive efficiency over flipping through charts (hoping to find them at just the right time) or waiting on someone to feed you trade ideas.
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
Love The Job Of Trading
You have to love the job of trading, one day like yesterday the SPY closes the day with a bear controlled candle, then you wake up the next day, and the futures look as if the bulls are going to have a great day. (Love the job of trading). Yesterday the SPY closed with a Doji using the 34-ema as the moving average support, so far so good but the price action today will need to show that the Bulls have staying power. Yesterday’s Doji also closed right at the Lower Red T-Band. (See chart). It is clearly obvious the SPY struggles to keep even one leg over the $280ish wall. With the VIX showing Bullish activity and the DIA’s and IWM showing weakness, this market is filled with sharks circling looking for dinner. Cash is a good position sometimes when there is a lack of clarity, but if you are trading use the trends, price action (Candlesticks), proven patterns and strategies.
The LTA scanner proved it’s value helping with producing and capture profits.
HRC/RWO Team News
✅ Member LTA Live Scanner Discount Code: Can be found on the member’s login page down toward the bottom. BIG SAVINGS
✅ Trade-Ideas for considerations: Technical diffacaulties/ No trade ideas today
✅ 30% Discount Available: Hit and Run Candlesticks • Right Way Options • Use Promo Code: SAVE30
Live Trading Alerts News
Testimonial
Took 20% on WIX puts! Thank you LTA- Live Trading Alerts
Jerry G.
Testimonial
I have hit for over $300 this morning using your LTA scanner, I think I have found my niche!
Coach B.
✅Save time reviewing hundreds of charts. ✅Find EXACTLY the right set up by being alerted for only those tickers that qualify. ✅Stop “Chasing trades” by being alerted of the move (not finding out later.) ✅Eliminate “trouble pulling the trigger” (be sure when a ticker is moving.) ✅Stop “leaving money on the table” (manage your exits with lower-time alerts.) ✅Stop “Predicting” by trading alerts that show the turn, not forecast it. ✅Stop ignoring the overall market (by watching alerts on DIA, SPY, IWM, QQQ.) ✅Gain massive efficiency over flipping through charts (hoping to find them at just the right time) or waiting on someone to feed you trade ideas.
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
A welcome relief
While the market keeps a close eye on possible interest rate inversion and possible economic slowdown the US Futures point to a bullish open and a welcome relief to last Friday’s selloff. Currently the Dow futures point to more than a 100 point gap up as I write this but still has to clear the Housing Starts hurdle at 8:30 AM Eastern. A miss of consensus estimates could fuel the fire of economic slowdown while a beat could clear the way for a bullish morning gap.
As nice a relief rally may be please remember it will take a huge effort by the bulls to clear the technical damage created in last Friday’s selloff. The DIA and IWM still the lower high and are technically in a downtrend. The SPY while technically stronger still has significant resistance to deal with while the QQQ continues to enjoy the benefits of market leadership. Be careful not to get caught up in fear of missing out and chasing into positions as the market tests price resistance.
On the Calendar
We have just under 60 companies reporting quarterly earnings today. Notable reports today include CRON, OLLI, CCL FDS, INFO, KBH, MKC & VALE.
Action Plan
After a very indecisive price action day the DIA finished up a whopping $0.11, SPY down $0.21, QQQ down $0.31 and IWM up $0.66 we have a substantial change of attitude this morning. First Asian markets closed mixed but the NIKKEI and HIS posted solid gains lifting the US Futures. The good vibes continue this morning with European markets bullish across the board with modest gains. As I write this Dow futures suggest a gap up of more than 100 points but we still have some economic hurdles to cross before the open.
Besides some notable earnings the 8:30 AM Housing Starts number will be important this morning amidst the worries of an economic slowdown. Consensus estimates of 1.213 million units which is just slightly less than the previous reading. Although a gap up will be a nice relief remember we still have substantial technical issues to overcome particularly in the DIA and IWM so we must still keep a close eye on price resistance levels above. However, the QQQ is still technically sound holding higher lows and continues as the market leader at the moment.
Trade Wisely,
Doug
A bit more Volatile
If the US futures are any indication of the day we have ahead we should expect price action to become a bit more volatile and challenging and the 21% one day rally in VIX seems to confirm that possibility. During the night the Dow futures were up more than 100 points shortly after the open but reversed sharply and traded more than 120 points lower as Asian markets fell sharply due to global growth concerns.
Technically both the DIA and the IWM have confirmed lower high failures at price resistance. Although Friday’s price action raises major concerns for the SPY the pullback in QQQ is only a test of support and the overall uptrend at this point. Currently the US futures are only pointing to a modestly lower open but we should expect an extra dose of price volatility so plan your risk carefully.
On the Calendar
On the Earnings Calendar we have over 70 companies reporting earnings today. Among the notable reports RHT 7 WGO.
Action Plan
After 2-years of investigation it would seem the Mueller findings have cleared the President of the collusion with Russia. The Attorney General also says the report did not find enough evidence to charge the president with obstruction of justice. Now one would think that mess is finally behind us but I would bet money that’s it’s far from over and will become a never-ending story in the political spin cycle. Rockets fired into Israel will cut the Netanyahu visit to the US short and raises concerns of a violent escalation in the area.
Futures have been a roller-coaster ride overnight. First the Dow futures rallied more than 100 points after the AG cleared the president. Then Asian markets opened and fell sharply with the Dow futures reversing and dropping more than 120 points. European markets are modestly lower across the board but the early morning pump has the US futures suggesting only a modestly lower open as I write this. I will not be at all surprised if both the overnight high and low get tested at some point during the day. Remember Friday’s sharp escalation in VIX suggests a bit more volatility price action is not out of the question so plan your risk accordingly.
Trade Wisely,
Doug
Price Action Being Tested
Price action tested by both the buyers and the sellers, use extreme caution. Friday the SPY closed below the lower MegaPhone line (Bearish clue) and above our Red Green Line (Bullish clue). With the political trash, today’s market should be pretty screwed up. The DIA’s have posted three lower highs (Bearish clue), Friday the DIA’s closed below the Red Green line (Bearish clue) and above the March low (Consolidation clue). IWM closed below the RED Green line (Bearish clue) and below the March low (Bearish clue). The QQQ’s are in a Bullish trend, and Friday’s candle suggests a lower low today. As I said screwed up! Sure glad we follower our Friday rule and closed a few positions to be lighter going into the weekend. As I approach the trading week, it will be with extreme caution, a few longs and shorts always remembering that cash is a position if the market gets too unruly. Something to always remember being a swing trader is that you don’t have to trade every day and sitting in cash for a day or two is ok.
The LTA scanner proved it’s value helping with producing and capture profits.
HRC/RWO Team News
✅ Member LTA Live Scanner Discount Code: Can be found on the member’s login page down toward the bottom. BIG SAVINGS
✅ Trade-Ideas for considerations: T, BIG, XRAY, AMAT, ROKU, SPLK, NKE, W
✅ 50% Discount Available: Hit and Run Candlesticks • Right Way Options • Use Promo Code: SAVE50
Live Trading Alerts News
Testimonial
Took 20% on WIX puts! Thank you LTA- Live Trading Alerts
Jerry G.
Testimonial
I have hit for over $300 this morning using your LTA scanner, I think I have found my niche!
Coach B.
✅Save time reviewing hundreds of charts. ✅Find EXACTLY the right set up by being alerted for only those tickers that qualify. ✅Stop “Chasing trades” by being alerted of the move (not finding out later.) ✅Eliminate “trouble pulling the trigger” (be sure when a ticker is moving.) ✅Stop “leaving money on the table” (manage your exits with lower-time alerts.) ✅Stop “Predicting” by trading alerts that show the turn, not forecast it. ✅Stop ignoring the overall market (by watching alerts on DIA, SPY, IWM, QQQ.) ✅Gain massive efficiency over flipping through charts (hoping to find them at just the right time) or waiting on someone to feed you trade ideas.
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
IWM Puts
Bought IWM Puts on the LTA scanner alert today, sold part for a 43% profit.
HD stopped out 2sd half + 45% – Grateful to the LTA scanner alerting the buy
Information about a chart, Price action, trend, patterns, and
Growth Concerns
Global Growth concerns once again raise its ugly head after European data disappoints just one day after a broad-based market rally. I must admit I was hoping for a little follow through to the upside this morning but the futures are currently pointing to a gap down open across all indexes. Overall it has been a great week of gains in the QQQ & SPY and some profit-taking as we head into the weekend should not be that surprising.
Although yesterdays strong rally may have felt as if the all-clear sounded, however, a quick look at the index charts shows us that price resistance above is still at work. The DIA and IWM are particularly problematic with the lower high still in force even after such a bullish move Thursday. Keep that in mind as you plan your risk heading into the weekend.
On the Calendar
We have a light day on the Earnings Calendar with less than 40 companies reporting. Notable earnings DXLG, HIBB, JKS & TIF.
Action Plan
After such a big rally on Thursday that was very broad-based I was hoping for a little more upside this morning. However, the market has different plans after some disappointing European data once again raises concerns of a global economic slowdown. Asian markets managed an ever so slightly bullish close across the board but this morning European markets are all seeing red.
US Futures that have been out of sync of late have linked back up and currently indicate a lower open today. The recently problematic Existing Home Sales out at 10 AM Eastern could belay some slow down concerns if the number comes in showing an increase as the consensus is expecting. Of course if it misses the exact opposite may be true adding to the slow down concerns this morning. All and all it has been a fantastic week of gains and there is nothing wrong with a little profit-taking as we head into the weekend.
Trade Wisely,
Doug
Fear of Recession Heats Up
From Open to close yesterday the SPY had a $4.10 day, not bad at all. Now the buyers need to keep their bulls focused in the right direction. With the fear of rescission heating up, the bulls will likely catch a little wind that smells like fear. At some point, enough fear will cause selling in the market. MKE being down and the BA troubles will weigh on the DOW today. (Caution). The buyers produced a nice Bullish Engulf on the SPY chart closing at $284.73; A Bullish Engulf is just one gear in the machine. Now the buyers need to show they have what it takes to drive the price action higher. So far our Red Green Trend is working, the question is will the buyers be able to push the 50SMA over the 200SMA?
Yesterday (Thursday) was a nice profitable day, and I suspect today will be the same because we typically take profits of Fridays and lighten up going into the weekend.
This past week the LTA scanner proved it’s value to traders helping with
HRC/RWO Team News
✅ Member LTA Live Scanner Discount Code: Can be found on the member’s login page down toward the bottom. BIG SAVINGS
✅ Trade-Ideas for considerations: No trade ideas on Friday’s. Have a great weekend!
✅ 50% Discount Available: Hit and Run Candlesticks • Right Way Options • Use Promo Code: SAVE50
Live Trading Alerts News
Testimonial
Took 20% on WIX puts! Thank you LTA- Live Trading Alerts
Jerry G.
Testimonial
I have hit for over $300 this morning using your LTA scanner, I think I have found my niche!
Coach B.
✅Save time reviewing hundreds of charts. ✅Find EXACTLY the right set up by being alerted for only those tickers that qualify. ✅Stop “Chasing trades” by being alerted of the move (not finding out later.) ✅Eliminate “trouble pulling the trigger” (be sure when a ticker is moving.) ✅Stop “leaving money on the table” (manage your exits with lower-time alerts.) ✅Stop “Predicting” by trading alerts that show the turn, not forecast it. ✅Stop ignoring the overall market (by watching alerts on DIA, SPY, IWM, QQQ.) ✅Gain massive efficiency over flipping through charts (hoping to find them at just the right time) or waiting on someone to feed you trade ideas.
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
(HD) Home Depot
HD – Alerted us with the LTA Scanner; HD alerted on the RBB scan, T-Band scan, and Red Green scan. 3/21/19 closed 1/2 with 35% raising stop on second 1/2
XOP – Alerted us a few days ago for the (RBB) Rounded Bottom Breakout was setting up. Currently up 34%
Information about a chart, Price action, trend, patterns, and
