Live Trading Alerts
Information about a chart, Price action, trend, patterns, and
SPY Lower T-Band Test?
For the most part, the SPY’s price action was uneventful yesterday with the statement by the Fed Chairman. The past two candles are suggesting a bit chop headed our way and a possible lower T-Band test. A close today below yesterdays low (280.32) would clue us in on a possible deeper move down, below 278.45 would set up a test of the March low. If price action and can come together and hold above 278.45ish (our Red Line) a few more buyers would be interested and could push the SPY back up and above the Green line T-Band Line. The trend and price action is the best information you can have as a trader and to have a tool to deliver that information would be golden.
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✅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.
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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
No Rate Increases
The FOMC signals no rate increases for the rest of the year but the market seems very unimpressed by the action. While the market has been trying to ignore the clues of an economic slowdown the Fed appear to have taken a no-confidence vote in its strength. Financials quickly reacted negatively to the news and are looking slightly lower this morning.
Asian and European market responded mostly higher on the news but the US Futures currently show mixed reviews. The Dow indicates a slightly lower open while the NASDAQ is suggesting slightly higher. Technically speaking the SPY and the QQQ are in very good shape but the Dow and the IWM having printed lower highs at resistance there is reason for a little caution. Also keep an eye on the VIX that once again quietly crept up yesterday. If that continues it could trigger a little profit-taking as we head toward the weekend.
On the Calendar
We have nearly 100 companies reporting earnings today with the most notable being, NKE, CSIQ, CTAS, CEO, CAG, DRI, LE, PTR & TCEHY.
Action Plan
The market seems quite unimpressed by the FOMC decision to avoid raising interest rates for the rest of the year. Normally low rates would inspire the market but in this case the FOMC appears not so confident in the overall economy. During the night the Dow Futures were down about 100 points even though Asian and European markets responded marginally higher. As I write this futures have rallied in the pre-market pump but it would not surprise me to the overnight lows tested sometime today.
The QQQ remains very strong, the SPY is holding firm in consolidation but the DIA and IWM continue to signal a little caution due to their lower high prints. All indexes continue to have resistance challenges above making the path forward difficult to determine. The VIX edged higher again yesterday suggesting a little fear might be creeping in which could lead to some profit-taking if that were to continue as we head toward the weekend.
Trade Wisely,
Doug
SPY Navigating Rough Sea’s
The SPY is still having a tough time navigating the rough seas around the $280.00 – $282.00 area. The reason may be the bears are trying to build a right shoulder to go along with the head and left shoulder (Weekly Chart). While the possible right should is in construction, we will see price action chop around, and this will test the best of traders. Having a handle on the trend and price action within the trend is a huge advantage for the active swing trader. Yesterday’s price action closed above the T-Line, and the T-Line is tracking above the 17ema and the 34ema, other than yesterday’s candle controlled by the sellers the current trend is still bullish. The price action and the health of the current trend will determine the outcome of the possible right shoulder. Tools of a good swing trader might include a strong understanding of chart patterns, trends and trend lines, support and resistance and the all-important price action.
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✅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.
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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
More Questions
The bulls were in full force and driving upward until news came out raising questions about the US/China trade negotiations bringing out the bears to reverse the days progress. After the close, FDX reported disappointing earnings raising more questions about global growth concerns. Asian markets were tepid and cautious overnight closing mixed but mostly lower. European markets are currently trading lower across the board this morning as well.
US Futures are pointing to a flat open and would not be a surprise to see light and choppy price action until the FOMC reveals it’s a decision on interest rates and delivers their forecast at 2:00 PM Eastern. Directly after expecting some wild price volatility that could extend through the chairman’s press conference scheduled at 2:30 PM. Setting that aside, the candle patterns left behind on yesterday index charts increases the caution level with their placement at or near price resistance.
On the Calendar
We have 52 companies on the Earnings Calendar stepping up to report today. Among the notable reports: GIS, GES, MU and WSM.
Action Plan
Early bullishness yesterday faded away in the afternoon session after a news report suggesting the trade negotiations with China had run into new challenges. Candle patterns left behind at or near resistance levels suggest a little caution might be in order as the market tries to digest the full measure of the issue. The disappointing market price action dealt with another disappointment as FDX missed earnings and tumbling nearly 7%.
Today is all about the FOMC and although the committee is not likely to raise rates, their forward forecast and decisions on balance sheet unwinding will have the market’s attention. The festivities begin at 2:00 PM Eastern with the Chairman’s press conference at 2:30. It would not be a surprise to see light choppy price action as we wait for the Fed announcement followed by a period of volatility and wild price swings directly after. Currently futures are pointing to falt open with European markets currently in red across the board and Asian markets having closed flat to mostly lower overnight.
Trade Wisely,
Doug
Price Action Crossover
Looking at yesterdays SPY chart, I have drawn a box around the POP Out of The Box Pattern, with a bullish pop and hold today we will have a confirmed POOTB pattern. The bulls might finally be on their way to challenge the September / October highs with the first challenge of $286.80ish. The SPY had a nice pullback 7/8 days ago and printed a bullish Morning Star candle pattern with bullish follow-through. Using the Red/Green Line crossover you can see a perfect Price Action Crossover on March 19. Today’s Trade-Ideas for consideration based on the RBB setup and Price Action crossover.
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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
Feisty Bulls
The feisty bulls staged a late-day rally yesterday and according to the futures markets want to keep their party going this morning despite the FOMC meeting that begins today. Asian markets were tepid and cautious closing mixed but mostly lower overnight. However European markets as well as the US Futures are throwing caution to the wind with the Dow pointing to a triple point gap up.
A breach of key resistance levels in the SP-500 and the NASDAQ will occur this morning if the bullishness holds until the open. Remember not to chase the morning gap let’s wait until we see buyer supporting the gap to avoid the dreaded pop and drop at price resistance. Having said that if those feisty bulls want to party ahead of the FOMC lets ride along and continue to profit as they push our positions higher. Gaps are gifts so consider taking some of those gits to the bank.
On the Calendar
We have 50 companies reporting earnings today. Among the most notable are MIK, CHA, DSW, FDX, FNV and SCS.
Action Plan
Today begins the FOMC meeting where its largely expected that the committee will make no change in the current interest rate. It’s normal for price action to become light and choppy as the market waits for the Fed decision but a late afternoon surge of bullishness defied the norm. Though Asian markets closed mixed but mostly lower, European markets are currently green across the board as are the US Futures.
If the bullishness in the futures holds through open the NASDAQ and the SP-500 will open above key resistance levels. As always, don’t chase a morning gap into price resistance because of the of possible pop and drop it can set up. There is no rush so let’s wait and see if buyers step in after the open supporting the gap. Honestly, I don’t understand where all this bullishness sentiment is coming from but that doesn’t matter. My job, our job as traders is the trade the chart and if the bulls want to go up then the understanding why is not important. We of course always have to remain vigilant watching for price action clues of profit taking or reversal prepared for that possibility. Until then it the bulls want to party let’s continue to profit from the festivities.
Trade Wisley,
Doug
Futures are mixed
Futures are mixed this morning as the US government launches a probe of the FAA and their approval of the 737 Max aircraft. As a result BA shares are gaping down, giving back Friday’s gains and setting the stage for a mixed open according to the futures. With the FOMC this week and first-quarter earnings finally starting to wind down don’t be surprised to light and choppy price action after the morning rush as we wait for the announcement and forecast Wednesday afternoon.
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As bulls continue to test upper resistance levels keep in mind that the bears continue to lurk about defending their territory above. Remember to take some profits near resistance and be careful not to over-trade or directionally overcommit as the bulls are bears battle over this important level.
On the Calendar
We have over 140 companies fessing up to quarterly results this morning. Notable reports include, TLRY, TACO, LL, OSTK & STNE.
Action Plan
The bulls have been doing a great job pushing hard and continuing to test key resistance levels in the index charts. However, the bears have stood their ground thus far defending resistance with the exception of the QQQ which closed just above resistance on Friday. Currently US Futures are mixed with the Dow looking lower amidst an FAA probe and BA shares giving up Friday’s gains. Asia stocks closed higher overnight, and European markets are mostly higher but mixed at the time of writing this blog post.
As markets continue to be hope for a positive resolution Us Trade Negotiations the market faces another FOMC meeting this week including the all-important forward forecasts. Don’t be surprised to light choppy price action after the morning rush as the market waits for the Fed Announcement on Wednesday afternoon. Although there are still notable earnings this week today is last big day of the very strung out first-quarter earnings season with more than 140 companies reporting. Stay long but respect overhead resistance saying focused on price action for clues and stay disciplined to your rules.
Trade Wisely,
Doug
SPY $282.00 Number To Beat
$282.00 remains the number for the bulls to beat. The slow grind and wall of worry are in full swing while traders look for a clue for more bullishness or bearishness. The trend is still bullish with price above the T-Line and the T-Line above our Red/Green Trendicator line. FOMC and China this week are both market movers and could push the SPY one way or another. The SPY closed Friday in Tier 1 and with price in the trending T-Bands we will stay predominantly bullish with a finger on the bearish button. Price closing below the Red T-Band would suggest the March 8, low would likely tested.
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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
$280-$282 Resistance Line
Based on the early morning futures today may be more of what we have seen the past two days, bulls trying to get through the SPY $280-$282 resistance line and the bears trying to knock us down, the 64K question is who will win? With Thursday’s close, the weekly chart is trying to print a Bullish Harami; today has yet to print. (Harami’s require confirmation). The overall outlook remains bullish based on a trend line from the January 3, low to the March 8, low. We have seen both long and short trades work this past week with base hits profits taken. The short term outlook remains choppy and boring at times, the perfect market for taking your money. Slow down, trade less; trading is a marathon, not a sprint race. We offer a great education in all three of our trading rooms, Swing trading, Swing trading options, and our day trading room. Affordable trials are available.
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✅ Trade-Ideas for considerations: No trade ideas on Friday’s
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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
