Futures this morning are
suggesting a lower open this morning, and although it’s down, it’s not bearish. In fact, I would say a market pullback or
consolidation is a sign of a healthy trend as long as the bulls defend support
levels. The Dow has rallied nearly 17% from
the market lows and a full month of bullish trading without a pullback. As resilient as the bulls have been, I doubt
they will give up easily and will likely fight to hold key price supports. In fact, this pullback could be very short
lived as long as earnings continue to roll out positively.
If the market simply consolidates
this can be a profitable time for stock pickers. If supports are defended a pullback can setup
new low-risk entries into existing trends?
So don’t fear a pullback embrace it because it’s the natural price
action of the market. It only becomes a
problem is support levels fail because that usually means significantly higher price
volatility. Keep an eye on support and
trend and remember Price is King.
On the Calendar
On the Earnings Calendar,
we have a big dig day with 230 companies fessing up to earnings results. Some of the notable today are ANGI, MT, CAH, COLM, DNKN, EXPE, GRUB, K,
MAT, PENN, TWTR, TSN, WU, WWE & YUM.
Action Plan
Yesterday we saw a notable decline in bullish energy as the
market slid sideways in a very choppy price action day. This morning Futures are suggesting a
pullback with the Dow expected to gap
down more than 100 points. Although a
down day a pullback or merely a consolidation would be healthy for the overall market and does not at this time suggest bearishness. With more than 200 companies reporting today anything
is possible and futures could easily change their tune by the open.
Important support levels to watch
DIA 250, SPY 267, QQQ 166 & IWM 145.
If bulls can defend those supports levels or above the odds of the
bullish trend staying intact is very high. Breaking
those levels would add a bit of complication and likely see some fear and price
volatility return to the market. If the
market consolidates it can be a profitable
time for adept stock pickers as good patterns and trade setups will likely continue
to develop. As always stay focused on
price action trading the chart not your bias.
Twenty-two days in a row, that’s how many days price action has closed over the T-Line, price action has cut through every obstacle the bears have had. Now price is faced with the 200-SMA hurdle with right price action anything is possible. At the close yesterday, the SPY chart closed with a gap in the morning followed by a fairly tight trading day closing with Doji pinned just under the 200-SMA. The VIX pricked up a few buyers, not enough to panic but we should keep an eye on the price action. IYT and SMA have been in a solid T-Line run, and both are pinned just under the 200-SMA. We remain cautiously bullish above $269.19 on the SPY chart.
Yesterday the Hit and Run Candlesticks “Road To Wealth” Account grabbed another ✅$500.00 or 19%with the SQ trade. ✅The LTA Scanner gave a great alert on X; we are currently up 19%.
2/6/2019 trade-ideas: we are adding the following to our watch list, PCG, DISH, SBUX, WYNN, WY, CZR, UNP. Past performance does not guarantee future results
Live Trading Alerts News
✅Live Trading Alerts – 100 plus alerts/scans to choose from
Two new auto scans have been added to the LTA-Live Trading Alerts Scanner; the Bull -Fig Newton patternand the Bear- Oreo Pattern. With over 100 built-in scans my favorite bullish scans are the Pop Out of The Box, The RBB, The 3×8 Trap, The Fig Newton. If you need set with the scanner set up or adding scans just let us know. Each day (Market hours) we provide Free Scanner coaching in our training room.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
I love following a chart like the SPY that is trending and when price action gives us PBO’s (Pull Back Opportunities) followed by profitable swings. January 24th through January 30th was a perfect PBO opportunity with a swing to the Dotted Deuce and now possibly the 200-SMA on the SPY chart. When looking at the SPY, it is clear to see that the bulls have been in control climbing the wall of worry fending off the very obvious resistance starting on the January 15th candle. Unfourtiountly the bullishness can end in a split second, above $269.15 and up to $281.20 we feel will be like sailing through rough waters. Our navigation will be crucial getting past the rocks, sharks and pirates.
✅Live Trading Alerts – 100 plus alerts/scans to choose from
Yesterday the “Live Trading Alerts Scanner” alerted us on a few great setups; I was able to capture terrific entries on X and GS. Now we will manage them based our proven trading rules. Three of my favorite scans are the Pop Out of The Box, The RBB, and the 3×6 Trap. Yesterday we took profits on V, and WDC both alerted by the Live Trading Alerts Scanner. 👉😎Todays trade-ideas came from Live Trading Alerts at the closing bell yesterday: NBR, X, LMT, URI, BBBY, HOME, IBM. Not all charts are a buy today, knowing trade ideas still require trading education and savvy. Past performance does not guarantee future results.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
In an amazing show strength,
the Bulls refused to give an inch and ultimately defied gravity pushing upward
right into the close. In the shadow of
GOOG earnings that seemed to disappoint investors and ahead of State of the Union Address that may prove to be controversial
the futures market currently points to yet
another gap up open. Go Bulls!
As much as my current long positions are benefiting from the bullish activity adding new
risk so late in the rally should be carefully
considered. The fear of missing out is a
strong emotion that often causes traders to abandon their discipline and
blindly chase into positions without consideration to risk or price resistance. The market can certainly continue to rally from
here, but it’s very important to plan acceptable risk trades and avoid chasing.
On the Calendar
On the Earnings Calendar,
earnings reports ramp up today with 150 companies reporting. Among the notable reports: ALL, APC, ADM,
BDX, BP, CNC, DLR, EA, EL, LAZ, PBI, RL, SNAP, VIAB & DIS.
Action Plan
The Bulls refused to
lose continuing to defy gravity with Dow
closing up 175 points. During the
evening Futures were lower as earnings from GOOG, GLUU, GILD and STX disappointed
investors. Surprisingly futures shook off the disappointment around 2:00 AM and began
to rally strongly and have not looked back since. As I write this, ahead of many of the morning
earnings reports, futures are suggesting a gap up open of more than 75 points.
Tonight is the delayed State of the Union address in which
there is speculation that the President will declare a National Emergency to fund the border wall without
Congressional approval. Should that occur, it will most certainly set
off a firestorm of controversy that could affect the overall market. Pop some corn, put your feet and watch the
show! Though my long positions are likely
to benefit from this morning bullishness, I will not chase entries so late in
this rally. If you do decide to enter new
risk today make sure you wait for proof that buyers are in support of the
morning gap.
Traders normally think of options only as a method of speculation. However options were originally created to allow institution’s a method of managing risk.
Most of the time I approach the market with a directional assumption, but right now I feel much more comfortable sitting on the fence. After a run that produced the best January market
performance n 32 years, I simply feels right to be a little cautious. Having produced substantial profits in the
bull run, I went into the weekend holding only a few long positions and a
couple of conservative hedge trades to
reduce my long risk.
Let me be very clear that I am not at all bearish. There is nothing in the price action that
suggests bearishness, and as a matter of fact, earnings could easily
continue to inspire the bulls higher. I
do believe the bull run is a little stretched however
so it would be wise to be on the lookout for clues of a pullback or at a minimum
a consolidation. My current watchlist chalked
full of very good looking charts, but as of this morning I plan to take slow with
more of a wait and see approach before adding new risk.
On the Calendar
On the Earnings Calendar,
we have 80 companies reporting results today.
Notable earnings today: AVB, CLX, GILD, GOOGL, LM, LEG, ON, STX &
SYY.
Action Plan
A rather quiet market news weekend as the nation focused mostly on the Super Bowl and the resulting parties. Although we are about at the mid-point of earnings season, we have a very big week ahead of us with GOOGL reporting after the bell today. As I write this Futures are currently flat but keep in mind that CLX reports before the open among other potential market move reports, so anything is possible.
I went into the weekend light in my account wanting to
protect capital and thinking a rest or even a market
pullback could begin at any time. As of this morning,
I’m still comfortable with that decision. However,
I want to be clear that I’m not at all bearish just cautious after the best January
market performance in 32 years. Earnings could easily continue to inspire the bulls propelling price even higher, but I think just a single stumble could also trigger
some profit-taking. While I still have
several long positions, I also have also
added some positions to hedge to reduce my long risk. Although I’m choosing caution, there are a lot of very good looking charts on my watchlist
ready to become active trades depending upon overall price action.
The battle between Bullish and Bearish is up front and center lately. On Friday the SPY daily chart closed with a Doji in the thick of resistance, the trend remains bullish with price leading the T-Line and the T-Line leading the 34-EMA. The 20-SMA and 34-EMA have risen above the 50-SMA. Friday’s price action felt the pressure of the bearish downtrend line and the 200-SMA is trying to intimidate price. The area surrounding the 200-SMA ($270.30 and $277.65) will likely be a challenge for price action. Price is currently at our Dotted Duece line, success over the Dotted Duece should result in a challenge of the 200-SMA. Both areas will take the full power of the Bull, keep a watchful eye out for that sneaky little Bear. We are concerned about the T2122 levels in TC2000 pegged above 80 for so long. These high levels are concerning and a warning clue. BUT price and trend is king, and as long as price action remains bullish over the RED/GREEN Trendicator, we will remain cautiously bullish. The CBOE Market Volatility Index (VIX) The CBOE Market Volatility Index (VIX) price action is showing no signs of fear with price below the T-Line and the T-Line below the Re/Green line.
From out trade-idea list: NBR, KKR, WDC, MU, NTAP, NYL, LVS, HAL will be talked about in our pre-market workshop. Past performance does not guarantee future results.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
There can be no doubt that the bulls did an extraordinary job in January. As a matter of
fact, the news sited it’s the best
January since 1987. And the bull
continue this amazing effort pushing us even
higher? Yes, however, the odds of pullback
beginning soon continue to mount even though there is no evidence of such in the price action.
Continued good earnings and a trade deal between the US and China would most certainly continue to provide energy for the bulls to continue running. However, I prefer to be more of a profit taker today than a buyer of new risk as we head into the weekend. Outstanding profits have been made over the last three weeks an I prefer to tuck them safely away in my account before the weekend rather than risk them to the unknown. What will you do?
On the Calendar
On the Earnings Calendar,
we get a little break today with only 66 companies reporting earnings. Notable earnings include CVX, CI, DB, D, XOM, MRK & WY.
Action Plan
Yesterday we had a bit of split decision with the Dow finishing down 15 points and the SP-500 closing
up 23 points. The NASDAQ had the best
results reacting to earnings results pushing 98 points higher. As I write this,
the Futures currently point to a mixed open, but
a lot could change as earnings roll out and the big Unemployment Situation number reveal at 8:30 AM Eastern.
According to the news,
this has been the strongest January rally
since 1987. The bulls continue to climb the wall of worry charging forward with seemingly
boundless energy. No, complaints here because
the profits have been great! However, what goes up must certainly come down eventually so stay focused
on the price action clues. As we roll
into the weekend, I plan to be more of a profit-taker rather than a buyer. Could the market go higher? The answer is a definite, YES, but it’s my opinion that the odds are growing for a pullback. Thus I prefer to have the majority
of my capital tucked safely in my account before the weekend.
What fantastic day yesterday, heck what a fantastic month January has been, check the Thursday, January 31, end of day blog post. You can see what a few our members did. If your We are kicking February off with a 30% discount on our membership. I will also be offering 1-hour free coaching for the first ten that takes advantage of the 30% discount!
The SPY closed higher yesterday at $269.93 on the HRC Dotted Deuce Line. The follow-through yesterday extended the bullish J-Hook continuation as well. As of yesterdays close the bulls have ignored and resistance the bears have tried to put up. In our recent blogs and the trading room, I have stated we are cautiously bullish. Yesterday we practiced Base Hits and closed all the good profitable positions and now getting more interested in adding a PUT or two. The TC2000 T2122 chart is pegged at 98.56, I for one have never seen the T2122 this high for this long. On the Bull side, price continues to ride the T-Line, and the T-Line is riding the Red/Green Trendicator Line. For the Bears, the resistance is in please, now it’s up to the bulls to what they are going to do with that information.
The CBOE Market Volatility Index (VIX) Closed at another low yesterday on the 200-SMA. It seems there is no fear in this market, at least for now.
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
Check out what a few members posted in the trading room today! It’s so fun pulling profits from the market. You gotta love the base hits.
(09:47 am) Malcolm M: I held my AMD, 16% today so far. (09:47 am) Aaron the red baron: 76% on AMD, can I get 100% today… (09:48 am) kirk p: HRC team, Just wanted to say thank you for all you do. My education has skyrocketed since I joined last May. You are appreciated! (09:49 am) Malcolm M: Ditto Kirk.. both my Mental Equity has appreciated and my Financial Equity has grown. (09:50 am) Ian Smith: Kirk I second that. Only been here for a few weeks. Not trading yet, but feeling like this is the best investment I’ve made for a long time (09:50 am) Malcolm M: TWLO, 44min, up 20.25%, no sell signal yet… current trade is only 3 spot but up $1,121 (09:52 am) Lowell W: various JD and VLO calls GTC sold at options mkt open for +20% and +25%. Making one week’s target is a nice start to the day. (09:53 am) Malcolm M: TWLO: took 1/3 off, less than half an hour, $4.58, 24.83%, continue to hold 2 contracts. Stop moved to BE. (09:57 am) Aaron the red baron: Sold my two positions in AMD one for 83%, the other for 50%…..I’m outta here, that will do for the week (09:57 am) Claude Langley: out remainder AMD + 50% (09:58 am) Doug Campbell: Closing JD for 55% (10:02 am) Lowell W: Just closed a FB $140 call… made a 100%’er, may have been my first one. Today is over 3x my week’s goal. (10:06 am) Aaron the red baron: took 25% out of JD
(10:07 am) Malcolm M: 10% today in VIPS, 16% SQ, 6.7% ROKU, 23.5% AMD, 16% NVDA, 27% in TWLO… its a Very good day but I haven’t had my second cuppa yet! Not seeing any sell signals in /ES or /NQ (10:23 am) jerry g: took 58% on GLD calls (10:23 am) Elizabeth Lamond: sold Roku 23% done for the week too scary up there 😉 (10:23 am) Bill M.: Sold my GE for 87% (10:25 am) Linda J: Out of GE at 86%. (10:26 am) Rick Saddler: Closed GE 69% (10:41 am) Flash .: Sold some SQ @ 6% (10:47 am) Craig Kleinbart: just took some profits on FNGU
(10:48 am) Malcolm M: SQ, taking profits. $2.69, 31.64%, one contract, still holding majority. (10:51 am) Flash .: Malcolm, just call me chicken (10:53 am) Flash .: JNJ 14% (11:24 am) Rick Saddler: Closed AMD 50.68%
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
