Here are a few stats from our Day Trading Division yesterday 1/17/19 (TopGun Day Trading). AA -$120.00 • AA trade $225.00/2-days •AA trade $183.00 • SQ trade +100.00 • MTCH trade $40.00 for a total $428.00. Steve Risner resides in Florida and heads up our Day Trading Division Trading Room 5-days a week. Steve shares his trades and day trading knowledge with fellow traders.
If you are interested in a day traders lifestyle, you might want to take a test run or give yourself 6-Months to learn the tricks of day trading.
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Bullish Wall Of Worry
The bullish wall of worry can be taxing for swing traders. Here at Hit and Run Candlesticks, we help with that navigation. The SPY is challenging the 50-day SMA and the 50% retracement of the October 2018 highs and the December 2018 lows. The bullish challenge thus far has been successful with price action and a bullish T-line Run working quite nicely together. The next challenge for the SPY will be in the $270 – $274 area. I continue to watch and manage the charts and our profits like a Hawk as price navigates through this minefield of resistance.
VIX–X Chart – We are watching the CBOE Market Volatility Index for signs of fear or the lack of. As of yesterday, the fear is low as the price action is approaching the 200-SMA. The 200-SMA could start a small fear movement, Note the TC2000 / T2122 chart is now pegged at 99.04
HRC Watch-list Trade-Ideas – No trade Ideas on Fridays, Enjoy a few profits! Past performance does not guarantee future.
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Road To Wealth Coaching Looking for extended coaching? Serious out trading? Work with Rick Saddler on a daily basis. Read More
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
Yesterday’s news that the US was considering tariff reductions
with China sent the index sharply higher. Although there are still no specific details markets
around the world reacted positively on the hope progress is being made. Asian markets closed higher across the board,
and European indexes are currently sharply higher this morning in reaction.
US Futures are pointing to a substantial
gap up open that push US indexes above there respective 50-day averages just ahead of a 3-day weekend. After such a strong bullish run and gaping higher this morning I will likely take-profits on several
positions to reduce the risk of the long weekend. Gaps are gifts, and I would rather make a
bank deposit today than worry about the possibility of events that could change
sentiment over the weekend and holiday. If
the market continues higher, I can always reenter but if the market reverses I
won’t get a do-over to capture gains.
On the Calendar
On the Earnings Calendar,
we have 15 companies reporting with the most notable being CFG, KSU, RF, SLB,
STT, STI, VFC, and WIT.
Action Plan
After the bell,
yesterday we NFLX reported a beat on the top line but a slight miss on revenue to
kick off our the tech earnings season reports.
Next week the number of earnings reports begin to ramp, up and that will often increase market volatility. First quarter earnings session drags out much
longer, so it’s very important to make it a habit of check reporting dates as
part of your daily preparation. Skipping
this step can make for very painful lessons.
Thus far we’ve had a mix of earnings results lets hope that begins to
improve over the next couple weeks.
Next Monday the markets will be closed for Martin Luther
King so think about your risk as we head into the 3-day weekend. Today marks
the 28th day of the government shutdown, and both sides appear unwilling to budge. The market has largely ignored the shutdown
but as it continues to drag out the unintended economic consequences are starting
to appear and could begin to cause some market stress. Futures are pointing to
a gap up open of more than 100 points on US/China trade progress. A gap up ahead of a long weekend may be a
good time to ring the register and bank some profits to reduce the risk of uncertainty. Have a great weekend everyone!
With indexes at or near significant price resistance levels
and their respective 50-day moving averages,
traders should be careful about adding new long positions
and thinking about banking some profits.
Please understand that I am in no way suggesting bearishness. In fact,
with the DIA and the SPY so close to testing
their 50- day averages I would not want to rule a bullish effort to do just that. However, we can also not rule out the possibility of a pullback at resistance and
some profit-taking to begin.
We have a lot of economic and earnings data coming out
before the bell today, so anything is
possible, but futures are currently
pointing to gap down open. Asian market
closed lower across the board, and European markets are also all in the red this morning. MS, has
already reported an earnings miss this morning so we will need some good data to
inspire the bulls. The price support built
over the last week with the tight range consolidation may now provide some selloff
protection if the bears decide to come to
work today. As always, price is king so stay focused on price action for
clues.
On the Calendar
We have 43 companies reporting earnings today with NFLX
kicking off tech reports this afternoon.
Notable reports today AXP, BBT, FAST, JBHT, KEY, MTB, MS, PPG & TSM.
Action Plan
Earnings and Economic reports will likely be the key driving
force for the market this morning. On
the Economic Calendar, we have Housing
Starts, Jobless Claims, and the Philly Fed
all coming out an hour before the market open.
On the Earnings Calendar, we will
hear from BBT, KEY, MS, MTB, and PPG
before the bell which could obviously move the market. T2122 continues to suggest a pullback, or at a minimum,
a consolidation could begin at any time, but
so far, the bulls have had the energy and momentum to keep moving higher.
Currently, the Futures are suggesting
a lower open, but with so much pending news anything is possible by the time we
hear the bell ring. With the DIA and the
SPY so close to testing their 50-day averages I would not rule out the possibility
of a bullish effort to accomplish that task.
If we do see some selling, the tight consolidation just below could
easily serve to support prices keeping the bears in check. Remember the rule: we want to buy stocks at or
near price support. With the indexes at
or near price, resistance be very careful not to over-commit to long positions.
The SPY holds its bullish trend from it’s December low, and the tug-a-war between the buyers and sellers is hot and heavy. Yesterday’s price action did fail to show strong follow-through after the Morningstar Signal and did not close above its 50-SMA. But price remains in a T-Line trend and above the $256.40 support line. Readers of this blog should know we have had a concern about the resistance starting about $258.00. While price is currently battling resistance; price is also managing the trend. Overall we will remain cautiously bullish above $256.40, and below $256.40 we would watch for a test of the $250.30 area.
VIX–X Chart – Yesterday’s Bullish Engulf following a Doji closing in on the 200-SMA is a clue to be a little cautious as the sellers may try to put together an attack to regain the T-Line. Also, note the TC2000 / T2122 chart is pegged at 97.46. Stay sharp and respect the charts.
HRC Watch-list Trade-Ideas – WYNN, GE, CRON, AMRN, URI, CIEN, TWLO, LGIH. We cover the trade details each morning starting at 9:10 am Eastern in the HRC trading room and throughout the day. Trade-Ideas posted today may not trigger today or any other day. The key to trading is understanding how to trade. A trade alert means nothing without the education. Past performance does not guarantee future.
Real-Time Market Scanner
Built-In (Included) Scan Definitions. Bullish and bearish, Continuation, moving average crossovers and bounces. (RBB) Rounded Bottom Breakout alerts, intra-day, daily and weekly, Candlesticks stick signals and more. Scan Definitions- Download FREE
Hit and Run Candlesticks – Join Rick Daily in trading room #1 membership required. Join in, ask questions and learn how Rick picks his trades and trades them. 2018 account + 307% starting with only $5,100. Become a member of Hit and Run Candlesticks and let’s bring on 2019 Read More
Right Way Options Room Update – The RWO trading room is now open all day to share ideas and watchlist suggestions. Watch and learn from Doug as he prepares and explains his trades. Learn More about Right Way Options – Read More
Top Gun Day Trading Room is for the active day/scalp trader looking to profit daily with no overnight risk. Daily trade alerts and trading education. Read More
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
Domestic and international political uncertainty appears to have no effect on the tenacious bulls with a refuse to lose attitude. Today is a big day of earnings and economic
reports that could bring out some volatility depending on the results. Inspired by a price increase from NFLX the QQQ
reached out to test its 50-day average as resistance yesterday. The Dow will need more than a 300 point rally,
and the SP-500 will require another 20
point gain to match that feat.
A tall order perhaps considering how stretched this rally has become, but you never say never. The
British Parliament will once again attempt
a no-confidence vote of the Prime Minister today which could create some market
turmoil as they continue to wrestle over leaving
the Euro. Remember that Price is King
and our job as traders is to stay focused
on how the market reacts to the news, not
the news itself!
On the Calendar
We have 24 companies stepping up to report results on the
Earnings Calendar today. Notable
earnings, GS, AA, BAC, BK, BLK, SCHW, CMA, CSX, FUL, PNC, and USB.
Action Plan
The Brexit vote suffers an epic
failure, and Parliament the Prime minister will once again face a no-confidence
vote later today. The market goes
up. The 26th day of the government
shutdown and the market goes up. Several
notable earnings miss with the latest miss from BLK this morning, and the
futures currently point to gains. In the
last several days any hint of profit taking is met by a wave of program buying
as the tenacious bulls push upward toward the 50-day moving averages. The bulls are in control, and they are not
taking no for an answer!
T2122 continues to signal
that the rally is overbought and suggesting
a pullback could occur at any time. Traders need to stay on their toes watching price
action and remember that the bears could reemerge
at any time. We have a big day on the Economic Calendar
today with Retail Sales numbers out before the open that could easily inspire
the bull or bears depending on the results.
Stay focused and flexible because
anything is possible.
SPY, to challenge the 50-SMA on SPY? The slow grind wall of worry is working slowly but surely. Price action seems determined to challenge the 50-SMA after the December low followed by a High/Low – Higher/high and a successful challenge of the 34-EMA. Yesterday markered the 5th green bullish bar based on our 17-EMA red-green tracking line. Yesterdays Bullish Morning star is suggesting the buyers want to challenge the 50-SMA. At $258.00 the SPY entered a resistance minefield for the bulls to navigate.
VIX–X Chart – The price
action trend is still down and no fear as of yet. Stay on your toes.
HRC Watch list additions – CHK, WLL, FTNT, ROKU, BDX, EBAY, SQ, MS. We cover the trade details each morning starting at 9:10 am Eastern in the HRC trading room and throughout the day. The key to trading is understanding how to trade. A trade alert means nothing without the education. Past performance does not guarantee future.
Real-Time Market Scanner
Built-In (Included) Scan Definitions. Bullish and bearish, Continuation, moving average crossovers and bounces. (RBB) Rounded Bottom Breakout alerts, intra-day, daily and weekly, Candlesticks stick signals and more. Scan Definitions- Download FREE
The LTA – Live Trading Alert Program is software that runs independently of any charting programs, an in real time finds chart setups. Hi, this is Rick Saddler founder of Hit and Run Candlesticks, as you know I have been using a live scan most of my trading career. It wasn’t until after I started to use the scanner that I became successful. Some people even say I am one of the best directional swing traders they have ever seen, that just not true; it’s because of the Live Scanner and what it does for me. It would be very hard for me to give up the scanner and believe every trader that wants to succeed needs to consider this tool.
You can get then scanner for a 30-day trial, but please keep it for at least 6-months to give it and you a chance. Below are a few scans it currently can run and we can customize scans for you! 30-Day Trial
Hit and Run Candlesticks – Join Rick Daily in trading room #1 membership required. Join in, ask questions and learn how Rick picks his trades and trades them. 2018 account + 307% starting with only $5,100. Become a member of Hit and Run Candlesticks and let’s bring on 2019 Read More
Right Way Options Room Update – The RWO trading room is now open all day to share ideas and watchlist suggestions. Watch and learn from Doug as he prepares and explains his trades. Learn More about Right Way Options – Read More
Top Gun Day Trading Room is for the active day/scalp trader looking to profit daily with no overnight risk. Daily trade alerts and trading education. Read More
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
Earnings reports, the government
shutdown in its 25th day and a Brexit vote could make for a
challenging day. So far the bulls have done a very good job of
defending price supports, but the bears
have also been working hard keeping the index
range bound in a rather tight consolidation. That consolidation could easily become the
launching platform to attack the 50-averages, which
for Dow is nearly 400 points higher. Or,
it could also become the “border wall” that
the bears defend.
Today we could see a rise in
volatility this afternoon depending on the result of the Brexit vote because of
the currency ramifications. We will have
to remain flexible, stay focused on price action and avoid over-committing to a
directional bias as the events of the day roll out. Fast price action and whipsaws are possible
after the Brexit vote so stay on your toes, as it may prove to be a challenging
day.
On the Calendar
On the Earnings Calendar,
we have 18 companies reporting. Notable
reports JPM, UNH, WFC, INFO & DAL before the market open. After the bell UAL reports.
Action Plan
Earnings results and political uncertainty will keep traders on their toes today. First,
we have several notable earnings before the bell that could provide a little volatility
before the open. Then this afternoon we
could see some substantial volatility as a result of the Brexit vote this afternoon. At this time the vote is expected to fail, and some say it could be an epic failure that
could wildly move currency markets. As
we begin the 25th day of the shutdown
TSA workers all across the country are calling in sick in protest. Air travel could become very difficult and create
unintended economic impacts as the shutdown drags on.
The good news is that the bulls thus far seem largely
unaffected by the turmoil rejecting yesterday’s gap
down and defending price supports. Currently,
the futures are suggesting a gap up to an upper range of the current
consolidation, but that could easily improve or worsen as earnings results roll
out. T2122 pulled back yesterday but remains
stretched suggesting more pullback or consolidation is possible. I would not rule out a bullish push to test
the daily 50 averages nor can we rule out the possible pullback so stay flexible
and focused on price action for clues. With
the Brexit vote possibly kicking in an extra dose of volatility it could be
challenging day to navigate.
A record China trade surplus with the US and the longest
Federal Government shutdown in history brings out the bears this morning with
US Futures pointing to a gap down around 200 points in the Dow. Asian indexes closed mostly lower overnight, and European
markets are currently lower across the board.
The media would like us all to believe the selling is due to the
shutdown, but in reality, we all knew that the market was in short-term overextended and a pullback should not have
been a major surprise.
Technically speaking a
rest or pullback will be a healthy thing as long as price supports hold. For the Dow, a hold above 233 area, SPY 250
area, QQQ 155 area, are important levels for the bulls to defend. If they do, we should see many long entry
setups. However, if they don’t, it would
open the door for a possible retest of the market lows but with the new wait
and see FOMC I personally think that is unlikely. If your thinking short, remember not to chase
the morning gap, wait to see if sellers step in supporting the selloff. Be prepared for fast price action and watch out
for possible intraday whipsaws.
On the Calendar
On the Earnings Calendar,
we have 24 companies reporting with the most notable C, SJR & LLL reporting
before the bell this morning.
Action Plan
The Bulls that remained very positive onto the close on Friday
seem to have a little different attitude this morning. Currently,
the US Futures are pointing to a significant gap down after Chinese economic data
showed a record high trade surplus with the US and the 24th and
longest shutdown in history spooks investors. Some Republicans are calling for the President
to declare a National Emergency to fund the border wall while others like Lindsley
Graham are asking for short-term re-open
so employees can be paid. One this is for sure is that opposition has
no intention of budging on the issue.
Although a gap down of
200 points is certainly painful, technically speaking this pull back from an
overbought condition was needed and should not have been a surprise despite the
political issues. As long as the Dow can
hold above 233 and the SPY above 250 prices
supports we should be in good shape. However, if the indexes fail those price levels in the
days or weeks to come it opens the door for a possible retest of the market
lows. Shudder the thought! Remember not to chase the gap, wait to see if
there is follow-through selling supporting the gap before thinking about entering
short positions. Expect volatility to
rise this morning, so fast price action, and swift reversals are often the results.
