With an ugly decline
yesterday I think most traders went into the close hoping the Friday Employment Situation number would get the bulls
back on the job. Unfortunately China’s very disappointing trade numbers last night
has the markets around the world reacting significantly
lower as the global slowdown theme continues to spread.
Futures are pointing to
a gap down of more than 100 points but that could greatly improve or get worse depending on the economic reports at
8:30 AM Eastern. This has obviously been a
rough week for the market and the failure
has key resistance levels does not help the technical
picture of the market. Consider carefully
the risk you carry into the weekend keeping in mind that we’ve still could
hear about a US/China trade deal.
On the Calendar
A little slower day on the Friday earnings calendar with just under 60 reports today. No particularly notable except maybe MTM
today.
Action Plan
Looking at the futures
this morning I wish I had held more of
the hedge positions through today. Futures were lower but pretty benign until China released trade numbers that were
sharply lower than expected. Asian
markets closed sharply lower and currently European are also declining across
the board.
Today is the big Employment situation
number. Estimates expect 180k jobs created
and that the unemployment rate will tick down to 3.9 %. That would be a very good number but sharply
lower than 304K reading last month. We
also have the Housing Starts number that disappointed on the last reading so keep
a close eye on the futures at 8:30 AM eastern as the open could improve or get
worse very quickly, Consider the risk
you hold into the weekend and remember we’ve yet to hear news on the US/China
trade deal. Have a great weekend everyone.
Although
price closed above our Lower T-Line Channel Band,
the price action is testing its ability
to hold onto a bullish rating. In the past eight days, the SPY has printed a few candles
that suggest the bulls need a restful pullback,
but the bears don’t seem to have enough growl to push them over. This type of price
action is hard on most trades because there is not a defined trend, (chop chop
chop). Our 4-hour chart shows that
price has crossed into bear territory and targets are in the $272.75 and
$268.10 areas. For the Bulls to get the game back, they need to capture the
$279.25 flag.
The Times IS Now
Hit and Run Candlesticks News
My #1 trading tool LTA-Live Trading Alert Scanner alerted us on (IWM) as it was just starting to breakdown below the T-Band channel, The IWM PUTS closed up yesterday 17.3 The February Road To Wealth Account statement has been posted to the website. Trade-Ideas for the next week or so: CSCO, BBY, WDAY, AXP, PM, ADP, CC, WYNN, ADSK, LGIH, XOM. Some of these are long and some are short.
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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
As always with a gap open we want
to avoid the urge to chase. Wait and watch
the price action after Clues of a slowing economy that continue to pop
up in the economic data have slowly begun a toll on this tremendous bull run. Slowing retail and housing were swept aside due to hopes of a forthcoming US/China
trade deal. The appears to be growing weary of the wait and yesterdays disappointing
trade numbers added additional pressure.
Thus far the selling has been very controlled and after such
a steep rally should not have been a surprise.
Futures this morning are currently trying to rally off the overnight low
but are suggesting a modest gap down at the open. Although we may see in increase in price volatility as fear grows I would be careful not
to chase the gap waiting to see if sellers
support the move.
On the Calendar
We have 185 companies fessing up to quarterly results
today. Among the notable earnings are:
COST, BKS, AOBC, BURL, CRCM, CHUY, LOCO,
GNC, HRB, HOV, KR, PLUG & UMH.
Action Plan
Disappointing economic
growth numbers in Europe, US trade deficits, North Korea appearing to restart
their nuclear program while the world
continues to wait for a US/China trade
deal have the futures looking gloomy this morning. The bulls have worked pretty hard to hold
price action supports are beginning to falter as hungry bears continue the gap to see
if sellers support the move lower with additional selling.
T2122 this morning is likely
to reach the bullish reversal zone at the open.
That doesn’t mean we should get an immediate bounce it only suggests the
odds of a relief rally are growing as long as there is not a piling on of more
bad news. So far this has been a very controlled
pullback but this mornings gap down has the potential to increase price volatility.
This video is considerably different than most of the videos that focus on charts and price action. In this 76 minute video, Doug Campbell talks about the steps necessary to improve your win/loss ratio.
It’s not a sexy subject but one that is vitally important to your long term success as a trader. Simple things like reviewing past trades looking for repetitive mistakes, proper trade planning and believe it or not learning to take profits are key elements to improve your win/loss ratio.
The charts in this video are for educational purposes only. No communication from Hit and Run Candlestick Inc should be considered as financial or trading advice. 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
While the market waits
for details of the US/China negotiations the
price action has become very light and choppy and there is a danger of
over-trading a dull market. Traders can
easily become bored during choppy markets talking themselves into trader they
would normally avoid just to have something
to do and break the boredom.
If the overall market is patiently
waiting perhaps we should do the same.
Eventually the stalemate will be
broken and the market could suddenly move either up or down. Unfortunately,
that big move often happens overnight and the result can be very costly if you
find that you’re on the wrong side of the
move. Exercise your discipline, stay focused
on price action and carefully weigh the risks of
over-trading a dull market.
On the Calendar
On the Earnings Calendar we have more than 120 companies reporting.
Notable reports are, ANF, AEO, BJ. BKCC, BREW, DLTR, SWRE & RST.
Action Plan
Yesterday was a mind-numbingly boring day with light volume
chop as the market waits for news on the trade
deal. The entire range of the DIA
yesterday was less than $1.50 closing
just 0.09 cents below the open of the day.
There are certainly very good looking
stocks but keep in mind a single new report could move the market substantially
so be careful not to over-trade out of sheer boredom.
Asian markets closed mixed over-night and currently European markets are mixed and mostly flat as
it seems the entire world is watching and waiting. Currently the futures are pointing to a modestly lower open having recovered about 50% from
their overnight lows. Perhaps earnings
and economic reports can break the logjam this morning and we can pick a
direction. If not it would be wise to
remember that really big moves often happen overnight on news events. Over-trade a dull market and you can easily
find yourself on the wrong side of the move.
Plan your risk accordingly.
The sellers (Bears) have been stopping the buyers (Bulls) in there tracks. The only thing the Bulls have done is to hold price within the Bullish T-Line channels, that is good but will it be enough? The bears have carved out and Bearish Evening Star and a Bearish Engulf and both are still active. If the sellers can force the bulls to close below $276.30, $272.40 and $266.95 could get tested. Over $280.50 the buyers will have a chance to be bulls. I have had reports of many people having trouble in the past few days. Remember to know your limits, what you can trade and what you can not trade. LOL, the market never stays the same for very long. Yesterday The LTA Scanner alerted us on (CRON) as it was just starting to work on the T-Line Bounce and the T-Line Band Scan. Yes we took advantage, and it has been worth 26.6% so far paying for the scanner four times over
Hit and Run Candlesticks News
Yesterday The LTA Scanner alerted us on (CRON) as it was just starting to work on the T-Line Bounce and the T-Line Band Scan. Yes, we took advantage, and it has been worth 26.6% so far paying for the scanner four times over in one trade. The Road To Wealth Account loves the Scanner. Trade-Ideas for the next week or so: ACB, CRON, FB, SQ, NBR, X, AER, TOL, CME, CIEN
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.
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
ursus arctos – a wild brown bear look at me partially hidden by tree trunk in the boreal forest. a really funny scene
It has been 11 weeks since the bears have a chance to eat and yesterday snack was just a reminder they
are still there and still hungry. Yesterday,
price action was also a reminder that no matter how strong a trend may appear,
price resistance in the chart should be respected by traders at all-times! Notice I didn’t say that resistance is something
to fear, only that it must be respected an approached with a little caution and a plan for the what if.
Although yesterdays selloff created some market fear and volatility,
technically very little damage was done
at least at this point. If the bulls get
back to work then yesterday move could prove to just that reminder that the
bears are still lurking about and we can never
get complacent in our trading. On the other hand if the bulls stumble again
we could see a push down to test the next levels of support. Keep in mind price resistance is still above and
the bears have given us a gentle reminder of their willingness to defend it so
plan your risk accordingly.
On the Calendar
On the Earnings Calendar we have nearly 120 companies reporting
results today. Among the notable reports
are: CRM, AVAV, AMBA, CIEN, KSS, ROST, SINA, TGT, URBN, VSLR & WB.
Action Plan
After a painful pop and drop yesterday futures are pointing to
a modest open but there is a challenge ahead on the Economic Calendar that has
the potential to trip the bulls. At
10:00 AM Eastern we will get the New Home Sales numbers that disappointed the
market in the last report. The last
reading was 657K, analysts lowered the consensus target to 590K today. If
they lowered the expectation enough perhaps it won’t be a problem but if the
actual number comes in less than expected once again we could see some
additional selling.
Yesterday selloff certainly created a little fear but overall the
technical damage is minimal at this point.
If the bulls can step up their efforts we could easily see the indexes
slide right back into consolidation as we wait for news on a US/China trade
deal. However, if the bulls happen to stumble
again the bears could be emboldened to
test lower supports. Once again that 10
AM report could be very important as to which side gains the edge. As always stay focused on price and remember
to trade the chart for what it is, not what you want it to be.
This $281.50 area on the SPY is proving to quite the wall for the SPY, three times last year and two times this year. The T2122 chart (4wk New High/Low Ratio) is breaking down from its overbought area now trending toward the oversold area. The SPY chart is a bit puzzling right now, The Bears produced a Bearish Engulf yesterday and a Bearish Evening Star a week ago, the Bulls have held the trend in a fairly tight range. There are many things I have learned in my 31-years of trading; one is to know my risk limits. Yesterday we made two great trades with VXXB and SPY puts then went to 100% cash. Until Mr. Market gives a better clue, I will plan to sit mostly on the sidelines with only a few trades here and there. A close over $280.50 the bulls have a chance, under not so much.
Hit and Run Candlesticks News
🎯 The “Road to Wealth” account to over 400% in the past 14 months and plan to double 2018 profits. 🎁Yesterday we had great profits on VXXB and SPY puts, took a few losses as well.
✅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.
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
The SPY wall of worry comes through again. I do
think every trader is concerned about the resistance line that is drawn across 10/17/18
– 11/7/19 and 12/3/19 and rightly so. On the other hand, the same traders are seeing the bulls hold it together with a
bullish trend starting in late December with a weekly chart showing Ten weeks
of new higher lows, (crazy and amazing). Put
those two scenarios together, and you have the perfect wall of worry. Remember that price is king and price builds trends.
The VIX-X chart is showing no fear in the
market and remains pushed down below our Red/Green line closing Friday at
$13.57. A VIX-X close over $16.20 would certainly get the attention of the market. We
will be starting Monday cautiously bullish, taking profits into strength or
base hits.
Hit and Run Candlesticks News
The start of another week of trading and we are excited! The “Road to Wealth” account to over 400% in the past 14 months and are planes are to double 2018 profits. Possible trade ideas- OSTK, KMI, BMY, MRO, WDC, FDC, BBT, NVDA, JNJ, AAPL. Two spots available for the “March Road To Wealth Coaching.” Mentoring program. Read More…
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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 trading room #4. Warning the LTA- Live Trading Alert software is a game changer, alerts for candlesticks, candlesticks patterns, western patterns, price action, tends, bullish and bearish.
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
