According to new reports the futures are down this morning because
investors are seeking clarity on the US / China trade deal. How can there be clarity when have been no
details and no deal has yet not yet finished?
Would it not be more likely that
the market is merely needing a rest after
the Dow has rallied nearly 4500 points in just over ten weeks? After an extraordinary run a rest or pullback is normal
and healthy price action to confirm or build price support.
The trend is still up and but there are warnings signs that
this run is a bit overextended. However,
at this time there are no clues of failure and the bulls have proven to be remarkably resilient
fending off bear attacks quite easily of late.
I would not expect them to give up easily now but stay focused on price action
clues waiting to see if the sellers show up in support or the morning gap down
or if buyers step in rejecting the low.
On the Calendar
On the Earnings Calendar we have over 200 companies reporting today. Among the most notable are, HD, M, BGS, BMO,
BNS, LNG, CSGP, CBRL, DISCA, ELF, EV, FTR, GWPH, HTZ, SJM, TREE, MELI, MYL,
PANW, PZZA, PSA, SDRL, SSTK, TIVO, VSI, and WTW.
Action Plan
If we are to believe the news
CNBC is citing that the futures are lower because investors want clarity on the US / China deal! Hmm, all along there has little to know
details and the fact is there has been no official deal as of now. Seems more likely
is down because simply because it needs a rest after Dow rally of nearly 4500 points! Nonetheless, Asian and European markets are lower this morning and it doesn’t
help the situation with HD missed on earnings early this morning.
The President is on his way to Vietnam to meet with Kim Jong-un
to discuss nuclear disarmament. Don’t be surprised if news reports from the
meeting create a little market volatility.
Keep an
eye on the Housing numbers this morning at 8:30 AM Eastern. Let’s hope
they show a better result than the
existing home sales numbers last week or the open today could be a little
rough. The trend is still up but there
are several danger signs so stay focused on price. There may be nothing at all to worry about but
let’s have the bull prove that before taking
additional long risk.
In this 90-min. video Rick talks about two of his favorite chart patterns to fish with, the T-Line Bounce and the Rounded Bottom Breakout. Also in thes video, Rick talks about the Live Trading Alert Scanner, and how he thinks it’s the best hook to have on your fishing vest.
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
My curiousness about how the markets would open as we enter
the 11th week of this market rally disappeared after the Presidential
tweet energized the bulls. About 10 minutes before the futures market opened
it was reported that the President would delay the Chinese tariff increase. As you might expect Asian markets rallied strongly
on that news last night and the bullish spread to European markets which are higher across the board this morning.
Following a trip point gap and run on Friday the US futures
point to yet another gap of nearly 150 points this morning. Although global economic stories continue to populate the news the bulls
appear to have no concern and there is even
some speculation that new market record highs are on the way. Though the trend is up please keep in mind there
are clues that the market is overbought as we test resistance levels. That certainly
does not mean that selling will soon begin but it does suggest we need to be
watchful and prepared in case the bull
stumbles.
On the Calendar
On the Earnings Calendar we have 130 companies reporting earnings
today. Notable reports, TWOU, AWR, APLE, CLDT, ETSY, LSI, MOS, OKE, PBPB, APTS, RCII,
SHAK, THC & VCYT.
Action Plan
About 20 minutes before the Futures
markets reopened yesterday I was checking the news and wondered how the markets would respond after ten weeks of rally and closing in the Friday tariff increase. That curiosity
went away when about 10 minutes before the futures
open the President tweeted he would delay hiking the China tariffs and
referenced the negotiations as
productive. As you might imagine when the
Asian markets began to open 2 hours later
they made significant gains on the
news. European
markets are currently higher and the US futures are suggesting about a 150
point gap higher this morning.
As we enter the 11th
week of this amazing rally there is now speculation that the market will reach
out for new record highs in the near future.
Although it seems a fruitless endeavor I will once again point out the significant
resistance levels just above and suggest caution as we rally to test them. We have another big week of earnings this
week and several very important economic reports for the market to digest as
well.
The tariffs postponed
for now, and the pre-market has
gapped. Today is Monday 2/25/2019, and
the pre-market has gapped over our $280.00 resistance line and looks like it’s
hanging on by a thread. As of the Friday’s close the bulls held there ground
closing at $279.14 and once again price closed above the T-Line and 17ema the
Red/Green line. The big question today is the $300.00 line going to support (the safety net, or will price fall
back through? One thing I have learned in
my 31 years of trading is that a chart can be overbought and stay overbought
for a very long time. While many traders ovoid in an overbought area I have
found some of the best and easiest profits are
hidden in an overbought condition.
If price falls back below $300.00,
$279.40 would be the logical first target
Good trading and have a wonderful day!
Trading Plan
Remain CAUTIOUS with a few puts locked and loaded, continue to follow the “Road To Wealth” trading plan. 1. Use the Live Trading Alerts Scanner to find trades, 2. Follow the base hit rules, 3. Only enter a position if the conditions are right for entry risk and profit rewards.
Sure glad we bought GE, this morning GE is gaping up. We will be able to take a few profits and start the week off right. Thank you Live Trading Alert Scanner for the alert last week.
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 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
Ya baby, it’s
Friday, and it’s payday at our house. For years I have used Fridays as a day to close out a
few winners and losers, so I don’t have to worry and sleep so much over the
weekend. And with the trade talks (turmoil) and the SPY so close to resistance
this is the perfect Friday payday. With that said the bulls held us above the
T-Line yesterday proving (for now) the buyers outnumber the sellers. The VIX did
start to show a little fear yesterday but did not close over the current downtrend.
The 4wk new High/Low Ratio chart is way overbought and cracked just a little
yesterday. Did you know that being a trader you control how you manage your
portfolio, risk, reward, paydays? So enjoy your weekend by taking control.
Trading Plan
Remain CAUTIOUS with a few puts locked and loaded, continue to follow the “Road To Wealth” trading plan. 1. Use the Live Trading Alerts Scanner to find trades, 2. Follow the base hit rules, 3. Only enter a position if the conditions are right for entry risk and profit rewards.
✅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 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
After a choppy Thursday with the market reacting to declining home sales futures markets were quickly lifted out the overnight doldrums with news of a pending trade deal. The story was very lacking in details but the
possible end of this trade war was enough to inspire the bulls to push for more
than a triple point gap up. A positive
close today will cap an extraordinary 9th straight week of market
gains.
Overhead resistance is certainly
still a factor and though I feel the fear of missing out just like everyone else
I will stick to my discipline and avoid chasing so late in the rally. I will also plan to use this mornings gap up
to take some profits where possible and reduce my weekend risk. My job is to advance my account and this late
in such an extraordinary run a Friday morning gap up is a gift I plan to take
to the bank.
On the Calendar
On the Earnings Calendar we get a little break today with less
than 50 companies reporting. Notable earnings
include, AN, COG, CHK, MGA, RY, RUTH, WPC
and W.
Action Plan
Another news report that the US and China are getting closer
on a trade deal quickly lifted the futures
out of negative overnight territory. Although
the report contained no information on the details or timing the bulls are
pushing a triple-digit gap up open this morning. As I mentioned yesterday a strong finish to
week would not be surprising to cap off a nine-week rally of more than 4200 Dow
points.
Though gapping up the indexes
will still be challenged by the price resistance just above so be careful not
chase this morning. As normal I plan to use
a Friday morning gap as an opportunity to take some profits and reduce weekend risk
if at all possible. This week we have
seen the bull ignore falling retail sales numbers and yesterdays decline in
home sales but I don’t believe that can continue forever. Stay disciplined on the job of protecting
your capital and advancing your account.
Have a great weekend everyone.
The next release of LTA will include two new timeframes. These can be used both as a “Timeframe to Scan” and as your “Alert Timeframe.”
As always, these two timeframes can be mixed and matched as the user sees fit. For example, you can scan for a particular Bullish chart pattern on a Daily level and then get alerts when stocks that pass this daily scan then print new Hourly highs. Or in this case, you might choose to scan for a Bearish Weekly chart pattern and then get alerts when the tickers that pass this bearish scan print a new Low on their 4-Hour chart.
The SPY is flashing caution yet eeked out another positive day yesterday as price tiptoes to the $280.00ish resistance line. On the weekly chart, the past 7 bars have closed over the T-Line with one PBO back to the T-Line and one Doji Continuation pattern that has pushed the price into the resistance area. The battle between the Bulls and the Bears is interesting at the $280.00ish level because the Bears have a possible Head and Shoulders on their side and the Bulls have the Inverted Head and Shoulders they have been working with and the recent Bullish run. Problem: As the battle begins to heat up we have found the weaker traders tend to be the biggest losers. Solution: Sit on the sidelines for a few days or have fewer positions and less invested in those positions. And be tougher with stops.
Trading Plan
Remain CAUTIOUS with a few puts locked and loaded, continue to follow the “Road To Wealth” trading plan. 1. Use the Live Trading Alerts Scanner to find trades, 2. Follow the base hit rules, 3. Only enter a position if the conditions are right for entry risk and profit rewards.
👉 9 stocks we are adding to our trade watch list: AA, EA, FB, FIT, MO, SLB, VLO, VXXB, WYNN – Prober conditions must be met befor a trade is entered. Past performance does not guarantee future results
✅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 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
The FOMC stands aside, the US and China are said to be
outlining a trade deal, index trends are up, and
the bulls point to the 9th straight day of gains. A truly extraordinary bull run that is also in
the 9th straight week up without looking back. Oddly enough bonds continue to trend higher
and even gold and silver have printed significant gains at the same time.
In a run such as this, profits have been easy to come by but its also very easy to become complacent. Such a strong bull run can lull traders to sleep and forgetting about the hungry bears lying in wait for their opportunity to attack. The trends are clearly bullish so stay with the trend but make sure you’re not chasing stocks late in their rally and over-trading. Respect resistance levels and exercise caution as price challenges them and remember to take some profits to the bank.
On the Calendar
On the Earnings Calendar we have a big day with more than
225 companies reporting results. Among the
notable report are: BIDU, BCS, BYD, CZR, ED, CUBE, DLPH, DPZ, DBX, FSLR, FLR,
HL, HPE, HRL, KHC, MORN, NEM, RMAX, STMP, STOR, VER, WEN, WIN & ZG.
Action Plan
Eight straight days of rally and in the 9th
straight week of an extraordinary index rally and the bulls appear energized
to continue that winning streak this morning.
New overnight that US and China may now be outlining the details of a trade
deal have the futures once again pointing to a modest gap up at the open. Asian markets closed mixed but modestly
higher overall and European are currently mixed this morning as well.
Today we have very busy earnings
and economic calendars to keep us on our toes as we progress toward the
open. Yesterday the FOMC minutes
yesterday reinforced that the committee expects to take a wait and see approach
giving them more time to evaluate the economic impacts of past rate increases. As expected there was some price volatility
after the minutes released but ultimately the bulls remained solidly in control
as we push upward to test significant market resistance levels. At this time there is nothing in price action
in the index charts to suggest bearishness but we must respect the resistance
above and avoid chasing so late in the rally.
The overall market trend is up and the bulls continue to maintain a remarkable amount of energy and tenacity to drive forward. However, with the index now in the ninth week up and drawing near major resistance levels it may be time to raise caution levels. Although the market seems convinced that there will be a positive outcome of the trade negotiations it’s possible we have already priced in that possibility. Which means any negative news coming out the negotiations or delay in the completion would receive a harsh reaction by the market.
On the Calendar
Recently we have seen bonds
going up with the market and yesterday gold and
silver joined in with a big burst of buying.
That’s an odd occurrence and makes me wonder what will decouple
first. With the Dow up over 4200 points
in nine weeks on its own should give everyone a little pause on it own. Remember to take some profits as stock and
indexes near resistance levels and be careful chasing new entries this late in
the rally.
On the Earnings Calendar we have nearly 190 companies reporting
earnings today. Some of the notable earnings
today are: WBA, FDX, A, ALB, CAR, SAM, CAKE, CDE, CYH, CVS, GRMN, GDDY, HFC,
IAG, JACK, NE, OC, PAAS, O, SO & RGR.
Action Plan
As the indexes move closer and closer to major resistance
levels I feel the need to become more and more cautious about adding new long
long positions. Though I’m cautious let me be very clear that
the trend
is still up and the bulls are still currently very much in control. I am also beginning to become concerned that
the market has already priced in a trade
deal with China. Which means if there is
any negative news or a delay in its completion the market could react harshly.
Today we have the release of the FOMC Minutes of the last
meeting. Don’t be surprised to see light and choppy price action leading up to its
release and some price volatility directly after. There is a news report out this morning suggesting
the market could be a bit more sensitive to the minutes given length and elevation fo the current rally. Futures are pointing to a modestly lower open this morning but with all
the earnings reports this morning that could easily change. As always stay focused on price and protect trading
gains and your capital as we move closer
and closer to resistance levels.
