Blog - Page 286 of 645 - Hit & Run Candlesticks

VIX Closed With A Doji

January 4, 2019 by Rick Saddler

The COBE Market Volatility Index “VIX” closed with a Doji on the 34-EMA yesterday and with the previous day’s candle, we have a Bearish Doji Continuation Pattern. With a close below the 34-SMA and follow-through price action may want to test the $20.40 area or the 34-EMA on the 3-day chart.

On the daily SPY chart, you can see the relief rally from the Bullish Morning Start in late December, a nice rally until a little resistance. As of yesterdays close the last four candles have been a bullish pullback working on a “Lower Low.”

A close today or the very near future over $252.75 would set up a “Low/High-Higher Low/ Higher High chart pattern, also called a continuation pattern. Of Course, a close below $245.25 would suggest the sellers are stronger than the buyers.

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Day Trading Room Update – The Top Gun Trading room began the new year with some decent trades up over $300 while risking only $100 per trade. Our latest trades include:

1 x TSLA Put trade for +$125
2 x QLD trades for +65
2 x SPXS trades for $114
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The Road to Wealth • Inner Circle – January of 2018, Rick decided to open a small $5,000.00 trading account to show small and large account traders can make a difference in the financial future.
For 2019 Rick plans on taking the now $23,567.00 account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018.

If you are interested in working with Rick Saddler and the Inner Circle click the button below and ask for more information. – Learn More Here

For 2019 Rick plans on taking the now $23,567.00account to $50,000.00 before December 31, 2019. Remember he already has increased the account $5,000.00 to $23,567.00 or 362% in 2018. Would you like to learn from someone that truly makes money, not just one hit wonders and backs it up with his account statement!

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Another 300-point reversal.

January 4, 2019 by Doug Campbell

Another day and another 300-point reversal gap overnight, challenging even the most experienced traders. I wish I could say the turmoil will be over soon, but there is no way to know how long it will take for the political drama to subside. With the Employment Situation report and the Jerome Powell comments later this morning I would not rule out the possibility of more intraday whipsaws.

With such extreme intraday moves quick day traders continue to have the upper hand with swing and position traders have little to no edge. Holding positions overnight is risky business let alone holding over a weekend. Consider that risk as you plan how to handle the weekend ahead.

On the Calendar

We have just nine companies reporting earnings today.

Action Plan

The market currently seems to love 300 point gaps this week. Wednesday more than a 300 point gap down a whipsaw back up. Yesterday day more than a 300 point gap done and three whipsaws during the day covering more than 300 points. Now, this morning US Futures are pointing to a 300 point gap up though we are still waiting for the government funding to reopen. The rebound this morning is focused on US-China trade talks improving. With the big Employment Situation report coming out an hour before the market open and the Jerome Powell speaking at 10:15 we could certainly see more whipsaws today.

As always after the morning gap wait to see if buyer’s support the gap and plan for fast price action as extreme price volatility to continue. Once again the current market condition favors quick day trading due to the big intraday swings. The market remains very sensitive to political news as well so plan your risk going into the weekend very carefully.

Trade Wisely,

Doug

Morning Market Prep Video

Market Opens Lower on AAPL News

January 3, 2019 by Rick Saddler

Market Opens Lower on AAPL news, The news from AAPL suggesting a world slow down which is causing the futures to find lower ground. At the moment 6:25 am Central the SPY is holding above yesterdays low, by the end of the day $242.20 could get tested. And a Bullish close over $252.55 could lead us to the 34-EMA. With the gov shut down and the trade war, the market will remain a complete mess. We have found short-term swing trading from the hour chart brings better-looking charts and cleaner profits.

Pre-market the VXX chart is not showing as much bullishness as I would have thought with price hanging below the 15-min 200-SMA. While the VXX has shown profit-taking over the past few days, it does remain a bullish chart pattern. The profit taking has not caught the 20-SMA, and it may take a day or two for this to happen.

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Top Gun Day Trading Room

Day Trading Room Update – The Top Gun Trading room began the new year with some decent trades up over $300 while risking only $100 per trade. Our latest trades include:

1 x TSLA Put trade for +$125
2 x QLD trades for +65
2 x SPXS trades for $114
Learn More about Top Gun Day Trading – Click Here

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The Road to Wealth • Inner Circle – For 2019 Rick plans on taking the now $23,567.00 account to $50,000.00 before December 31, 2019. Remember he already has increased the account from $5,000.00 to $23,567.00 or 362% in 2018. If you would like to learn from someone that truly makes money not just one hit wonders and backs it up with his account statement. – Learn More Here

SWN, CLVS, LVS, EBAY, MRO, DLTR, VLO, SBUX, PG, LLY, MRK are on our watchlist for a possible trade today or within the next few days. Past performance does not guarantee future results. Learn how to trade before you trade.

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AAPL projections disappoint.

January 3, 2019 by Doug Campbell

Mostly blaming the trade war and slowing sales in China, Tim Cook lowers the revenue projections for AAPL for the first time since the introduction of the iPhone in 2007. Because of the companies heavy weighting in the DIA, SPY, and QQQ we will see sharp declines at the open as investors reprice the tech giant’s value.

Asian markets closed down across the board last night, and European indexes are also lower this morning. Selling pressure in the US Futures is pointing to a gap down of more than 300 Dow points at the open. I think the big question for the day is will the AAPL disappointment spill over into other companies triggering more selling and fear. Expect very fast price action at the open that will challenge even the most experienced day traders. Buckle up it could be a very rough day.

On the Calendar

On the Earnings Calendar, we have 14 companies reporting today.

Action Plan

After gaping down more than 300 points yesterday, positive comments from the President on trade negotiations embolden the bulls recovering to an 18 point Dow gain. This morning the market faces a gap down that will be much harder to recover from and may spawn additional selling in the tech sector. Yesterday after the close AAPL reported disappointing revenue guidance sending the stock sharply lower. With slowing iPhone sales this is the first time AAPL has lowered revenue projections since the popular device came to market in 2007.

Currently, the Dow Futures indicate a gap down open of more than 300 points. With AAPL so heavily weighted in the DIA, SPY, and QQQ it could be a rough day for the market. According to a report, Warren Buffett will lose 2.8 Billion on his AAPL position today. As the power switches isles in the House today the first order of business is electing a new speaker. Once that is complete, they hope to pass several bandaid bills as a temporary patch to reopen parts of the Federal Government while negotiations continue on the border wall. With so much uncertainty expect volatility to be back on the rise this morning fast price action more suitable for day traders than swing and position trading.

Trade Wisely,

Doug

Morning Market Prep Video

Government Uncertainty

January 2, 2019 by Doug Campbell

As I write this, the Dow is expected to open more than 300 points lower and continues to face the uncertainty of the government shutdown. Asian markets sold off sharply during the night with December manufacturing numbers came in worse than expected. European markets are bearish across the board as well this morning, and the US Futures are pointing to a nasty overnight reversal gap down.

Today the President is meeting with Congressional leadership so we will have to say on our toes because the market is likely to react quickly to any news, positive or negative that results from the negotiation. The volatile price action continues to favor the quick day traders as the risk of holding positions overnight in this emotional market remains very high. Price action will likely be very sensitive to any political news so remain focused, flexible and ready for intraday reversals.

On the Calendar

On today’s Earnings Calendar we have only seven companies reporting, and unless you happen to hold them, they are not particularly notable.

Action Plan

The bullish gap on Monday looks fully reverse as the market sentiment continues to flip-flop from moment to moment. The current price action continues to favor quick day trading because the risk of holding over trades over a single night is unsuitable for most swing traders. The President has called a meeting with Congressional leadership to discuss ending the government shutdown. The news spin out of this meeting could move the market sharply so we will have to stay flexible and focused on price action.

Currently, the Dow futures are pointing to a 350 point gap down which of course means we have to watch carefully for the possibility of a reversal whipsaw much like we experienced last Thursday. However, there is no reversal, and the sellers remain in control after the open it would be wise to remember that support could be hundreds of points lower. That’s one of the challenges of whip like this because the price action didn’t take the time to build support levels. Volatility is likely to be very high today and price action very sensitive to political news. Stay flexible, focused on price action, avoid trying to predict and watch out for possible whipsaws.

Trade Wisely,

Doug

Morning Market Prep Video

Bearish Drag First Trading Day

January 2, 2019 by Rick Saddler

Welcome to 2019! So we wake up to a nice Bearish drag the first trading day of the year. In my last blog post, I wrote: “The SPY is set up for more consolidation with pending political news.” And this is exactly what is happening, after the bullish price action on the 26^th and 27^th we see consolidation, construction consolidation as long as the bulls can defend $242.65.

The fear in the VXX chart is working on a Bearish Shooting Star, BUT if the sellers can not close below $45.55 soon, the Bearish Shooting Star will be the candle that produced a small amount of profit taking. The VXX chart has been in a bullish trend ever since the October low; the T-Line has remained above the 34-EMA as the 34-EMA has been rising. The current daily price action is still above the T-Line, a bullish indicator.

Right Way Options Trading Room

Right Way Options Room Update – The RWO trading room is nowopen all day to share ideas and watchlist suggestions. Watch Doug as he prepares and explains his trades. Learn More about Right Way Options – Click Here

Top Gun Day Trading Room

Top Gun Day Trading – The Top Gun Day Trading room is up over $3,000 in December while risking only $100 to $200 per trade. Our latest trades include: 400 shares of SPXS for +$163.00

400 shares of UPRO for +$130.00
2 SPY Puts for $103.00 in less than 15 min
Member Doug K. made $250.00 on SPX Puts Friday
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Hit and Run Candlesticks Trading Room

Hit and Run Candlesticks • The Road to Wealth – For 2019 Rick plans on taking the now $23,567.00 account to $50,000.00 before December 31, 2019. Remember he already has increased the account from $5,000.00 to $23,567.00 or 362% in 2018. If you would like to learn from someone that truly makes money not just one hit wonders and backs it up with his account statement. – Learn More Here

Sorry no trades ideas posted on the blog, we will be posting and talking about trades in the trading room.

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Trading Services We Offer

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Keeping Option Trading Simple – Mike P. Interview

December 31, 2018 by Doug Campbell

This is an unsolicited and non-paid interview with Right Way Options member Mike P. Mike shares how how he uses a simple disciplined approach to trading options that produces consistent profits. Mike goes into detail and provides actual trading statistics including his biggest mistakes.

Mike P. Interview Video Replay