Something as simple as a trend can be a traders edge. Based on or 3-Line Dark chart the sellers are winning the game, at least as of yesterdays close. If the buyers can close above $285.65 and establish support, they have a chance to climb higher. Ultimately the trend needs to make a big turn, 👉Fast-EMA needs to be above the T-Line, and the T-Line need to be above the slow-EMA. If the sellers maintain control, we are looking at both our 200 moving average lines for a price test. Looking at the weekly chart, the SPY is at a little support but is also looking at three lower lows, and the monthly chart is supporting a Bearish Engulf. The VXX has challenged the 200-SMA in the (RBB) Rounded Bottom Breakout pattern, currently bullishly consolidating. May is turning out to be a fight between the buyers and sellers; this is where traders need the very best tools 👉for trading and have their wits about them.
In my opinion, the LTA- Live Scanner and TC2000 offer the best of the best. TC2000 charts are clear, easy to use, and read. The LTA- Live Alert Scanner pops up trade ideas that fit my style based on how I have set the program up right on my desktop. Day Traders and Swing Trader needs an edge to succeed.
🍰 Today we are adding 10 stocks to our watch list for a possible trade in the next few days. SPXS, QID, FAZ, VXX, TZA, SYY, COTY, GIS, CL, NEE. The alert software we at Hit and Run Candlesticks and Right Way Options is available to you. Try it for a month
🎯 The Worlds Best Trading Tools ✅ TC2000 for charting, ✅ LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. ✅ TradeHawk for placing the trades. Crazy enough, not one of them are expensive.
👍 A good tool improves the way you work. A great tool 👉 improves the way you think. – Jejj Duntemann
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
Yesterday broad-based rally left me hopeful that we might
see at least a little follow-through bullishness this morning. Futures during the night showed some promise
of that as Asian markets rallied closing up across the board. Unfortunately that bullishness has faded this
morning ahead of a big day of earnings reports and economic reports.
Although there was some sweet relief yesterday from the
selling pressure so much technical damage was created on Monday prices now face
some pretty tough resistance levels if the rally is to continue. Perhaps this mornings data deluge and provide
the energy need to inspire the bulls higher. As you plan your risk forward however it would
be wise to remember that it’s not uncommon for prices to retest market lows at
some point. Remember the current trend
is still down and how the market deals with resistance levels will be very
important as we move forward.
On the Calendar
A busy day on the Earnings Calendar with nearly 190
companies reporting. Notable reports
BABA, CSCO, ERJ, FLO, JACK, M, NTES & TCEHY.
Action Plan
Yesterday’s relief rally appears to have been very broad-based
with many sectors involved in the recovery.
Unfortunitually Monday’s selling created so much technical damage in
charts they now face some pretty strong price resistance levels. We also have a very big day of earnings and an
economic calendar full of potential market move reports for the market to chew
on this morning.
Futures reopened last night bearish but then turned bullish
as Asian markets found the energy to recover but that warn and fuzzy feeling has
now slipped away. As I write this note futures
are pointing to a gap down of more than 50 points but that could quickly change
as earnings and economic data rolls out.
Keep a close eye on overhead resistance levels and remember that market
bottoms often require a retest of previous supports so plan your risk
carefully.
US futures are pointing to a triple point gap up but is this
a relief rally or the setup for a pop and drop pattern? Only time will tell but be careful not to get
caught in fear of missing out rushing into danger. There was wise spread technical damage
created in most sectors of the market yesterday so keep an eye on those price
resistance levels if the bulls do choose to test them.
Though the market may have created a short-term oversold
condition with yesterdays aggressive sell-off the trade war is likely to have
lasting impacts so don’t expect the bears to give up easily. The market is likely to remain volatile, sensitive
to tweets and news reports so plan your risk carefully. The current market condition is likely to be
challenging to even the most experienced traders so there is no need to rush into
harm’s way, remain disciplined to your rules and wait for your edge to return even
if this is a relief rally.
On the Calendar
We have nearly 170 companies on the Earnings Calendar
expected to report results. Among the
notable reports, BABA, PLCE, CSCO, ERJ, FLO, JACK, M, NTES & TCEHY
Action Plan
After taking considerable time to look over 1000’s of charts
last night, yesterday’s rout created significant technical damage across most
sectors. Consumer defensive stocks, utilities,
precious metals fared the best as traders and investors looked to find some
safe havens. Futures are pointing to a
triple-digit gap up but it would not be wise to rush in the morning gap. The bears are unlikely to give up easily and
we will have to watch the possibility of a pop and drop pattern.
Price action is likely to remain fast, volatile and very challenging
even to the most experienced traders. For
the time being this is a very emotional and news-driven market subject to intra-day
and overnight reversals so plan your risk carefully. Due to the heightened volatility, if I do
trade, I will take smaller than normal positions and expect to take profits without
hesitation to reduce the risk of reversal.
Stay disciplined to your rules and patiently wait for technical correct
patterns that provide you with a higher probability edge.
Yesterday’s gap hurt…Ouch! But we should not have been surprised, the current trend has been a sleuth of bears, and they were hangry. The bears have run the lows lower until they broke the 50-SMA and then gaped smack dab on the Fibonacci 23.6 retracement line closing at 280.86. The futures are up a bit this morning, and we are oversold so a relief rally may be in the cards, but a true run for bullishness will need a pattern such as a low/high higher low/ higher high or a bullish 123 step pattern.
Our bar
chart is still strong into a downtrend. The closing price yesterday is about
halfway between the 50-SMA and the 200-SMA, the battle is on, the sellers will
fight for the 200-SMA and buyers will fight for the 50-SMA.
🍰 Today we are adding 10 stocks to our watch list for a possible trade in the next few days. AXSM, GIS, PG, COTY, ZNGA, MELI, SPWR, ROKU, WW, ZAYO. The alert software we at Hit and Run Candlesticks and Right Way Options is available to you. Try it for a month
🎯 The Worlds Best Trading Tools ✅ TC2000 for charting, ✅ LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. ✅ TradeHawk for placing the trades. Crazy enough, not one of them are expensive.
👍 A good tool improves the way you work. A great tool 👉 improves the way you think. – Jejj Duntemann
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
In Friday’s blog post I posted my Candlestick Dark Chart using just three moving averages. The moving averages (3-EMA, 8-EMA and the 17-EMA) shows how the bulls had control and now clearly shows the bears in control. Bullish candlesticks (price action) with these line in bearish formation is thought to be a bottom but requires confirmation. One more time please “Requires Confirmation.” 👉 Friday has not confirmed it was simply the buyers and sellers creating a candle; confirmation would be above about $289.00 based on Friday’s candle. Notice on the above chart the red dot above Friday’s candle, when the dot turns green you most likely will have confirmation. This indicator or strategy can be used on any chart if you are wondering. ✅ The Red/Greem T-Line Dots on TC2000 and the Alerts from The LTA Scanner are a top tool for trading. Just like a fork is the #1 for eating pie.
🎯 I use 3 of the best tools in the world for trading stocks and options. 👉TC2000 for charting, LTA-Live Trading Alerts 👉 for real-time price action, candle and candle patterns, and western patterns. 👉TradeHawk for placing the trades. Crazy enough, not one of them are expensive.
👍 A good tool improves the way you work. A great tool improves the way you think. – Jejj Duntemann
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
How many remember setting in your room in anticipation of punishment
after acting up as a youngster? The
waiting was awful as it gave you time to ponder even the worst-case scenarios of
your future fate. This morning the
futures are pointing to 300 point gap down after a weekend of wild speculation
of the punishment yet to come.
We will also get a reminder of the dangers of market reversals
over the weekend. Traders hoping to have
picked the bottom and those rushing into Friday’s rally with the fear of
missing out will get a painful lesson in patience at the open today. Markets around the world are also reacting
lower in anticipation. As we wait,
expect very challenging price action the could reverse on a dime on a tweet or
news report. Consider your risk
carefully.
On the Calendar
We have 175 companies expected to report on the Earnings
Calendar today. Notable reports include,
DAVE, GAIN, TTWO & TME.
Action Plan
Traders are going to get a nasty reminder this morning just
how dangerous a volatile market can be over the weekend. Friday’s big rally has likely trapped a lot
of hopeful traders with the fear of missing out and trying to pick the bottom. As I write the morning note, futures are pointing
to more than a 300 point gap down as we wait for the Chinese response to
increased US tariffs. Do you remember
being sent your room after acting up as a kid to await punishment?
The anticipation of what could happen was often worse than
the punishment. Thinking about what could happen over the entire weekend has
given time for the market to ponder the even the worst case scenarios. The longer we wait the worse the anticipation
becomes and we see that in the futures this morning as speculation of the unknown
runs wild. We should expect fast and
very volatile price action during the morning rush that has the potential of big
intra-day or overnight reversals driven by news. Consider your risk careful if you decide to
gamble on the outcome.
We have made it so easy Just like the Easy Button LTA – Live Trading Alerts has a few new features like “Pre-Configured Alerts.” Live Trading Alerts has solved the problem of finding great chart patterns and setups.
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 US tariffs increased by 25% and we are still waiting the
Chinese promised response as trade negotiations continue in Washington D.
C. Asian markets closed mixed but mostly
higher overnight and European markets are also in rally mode this morning and
green across the board. US futures fluctuated
substantially overnight but as we move toward the open hope of a deal continues
to well up.
This week has created significant technical damage in the
charts and its very difficult to know what to do as we wait for negotiations to
conclude and the Chinese response to the tariff increase. While the trade talks are front and center we
also have to consider the rising tensions with North Korea and Iran as we
consider the weekend risk.
On the Calendar
We have a little rest on the Earnings Calendar with just short
of 120 companies reporting today. Notable
reports include DS, ENB, JD, MAR & VIAB.
Acton Plan
As US/China negotiations continue in Washington D.C. the
president did as he said and raised tariffs by 25%. At this time China has yet to respond but
promises that it will do so with equal tariffs on US products. During the night futures were all over the map
swing from up more than 100 points to down nearly 100 points as we neared the
midnight deadline.
This morning the futures are suggesting a mixed and modest
open but that could easily change as earnings reports roll in and we get the
latest reading on the CPI at 8:30 AM Eastern.
With the current technical damage and waiting for China’s response it’s
very difficult to access the risk of holding or adding new position ahead of
the weekend. The trade war may be the
least of our worries as issues in North Korea and Iran continue to escalate. Plan your risk carefully and have a wonderful
weekend everyone!.
✅ Today let’s look at my dark chart. The dark chart has three trend lines the 3-EMA (Magenta) and the T-Line (8-EMA with Green/Red Dots). As you can see 👀 four candles ago the dots went from green to red and the Magenta line (3-EMA) crossed below the T-Line (Red/Green Dots). Both the 3-EMA and the T-Line have also crossed below the 17-EMA (Yellow), all this with price action leading the way. The last meaningful time this happened was around October 5, 2018, and the SPY corrected about 20%. 👼 The trend is your friend, and this little 3-moving average trick might help you find a good friend. When all three moving averages are in the bear position, we might look for a weak or failing relief rally to short. And when all three moving averages are in the bull position, we might look for minor profit taking PBO’s to go long. Always looking at price action and support.
🎯 I use 3 of the best tools in the world for trading stocks and options. 👉TC2000 for charting, 👉LTA-Live Trading Alerts for real-time price action, candle and candle patterns, and western patterns. 👉TradeHawk for placing the trades. Crazy enough, not one of them are expensive.
👍 A good tool improves the way you work. A great tool improves the way you think. – Jejj Duntemann
You are invited the Hit and Run Candlesticks and Right Way Options Trading Rooms! Click this link: Registration for more details. Register and we will email you the login information. You will be able to come and go as you want for two days. ✅ Hit and Run CandlesticksRoom Times; 8:10 am to market close ✅ Right Way Options Room Times; 11: am Eastern to 1: oo pm Eastern 11:00 am Eastern to 1:00 pm Eastern
You know your the best when other educations use your work.
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
✅ As expected price broke through the lower T-Band, now headed from the 50-SMA. The Bearish Engulf on 5/1/2019 poked the bear, and now for the past five days, the bear has, well, being a bear. After the Bearish Engulf, we saw follow-through then a failed high, followed by a lower low and yesterday has now made a lower low. Lower lows and lower highs suggest there are more sellers than buyers. The LTA Scanner 👉 has been alerting of the bear poking with the following alerts. (Bearish Engulf), (Bear High Yesterday or Today in T-Bands Now Below) (Bear T-Line Band Breakdown). And the (Bear 3×8 Trap). The VXX has been full of fear the past 3-days, no an RBB setup. The VXX has also alert on the LTA scanner as it broke through the T-Line and T-Line Bands. Todays Challenge will be to monitor today’s candle (price action) using the current trend and yesterdays candle as a backstop.
💲 The LTA Scanner has been alerting of the bear poking with the following alerts. (Bearish Engulf), (Bear High Yesterday or Today in T-Bands Now Below) (Bear T-Line Band Breakdown). And the (Bear 3×8 Trap). The VXX has been full of fear the past 3-days, no an RBB setup. The VXX has also alert on the LTA scanner as it broke through the T-Line and T-Line Bands. Todays Challenge will be to monitor today’s candle (price action) using the current trend and yesterdays candle as a backstop. 👉1-Will the 50-SMA act as support? If not $282.40 a probable test. 👉2-Will the buyers push price back over the T-Line and into the lower band. Or 👉3- Will price start to dry up and walk sideways? These are a few of the clues in the chart we will be watching.
✅ 💰 Here are a few long and short tickers I am adding to a watchlist for consideration only. Trades may or may not be taken. CVS, I, CNC, F, FSLR, RCII, NWL, KEYS, SEE, XLNX, PANW, W, MAS
You are invited the Hit and Run Candlesticks and Right Way Options Trading Rooms! Click this link: Registration for more details. Register and we will email you the login information. You will be able to come and go as you want for two days. ✅ Hit and Run CandlesticksRoom Times; 8:10 am to market close ✅ Right Way Options Room Times; 11: am Eastern to 1: oo pm Eastern 11:00 am Eastern to 1:00 pm Eastern
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
