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.
The SPY closed slightly off its highs yesterday and so far has dipped lower premarket today (2/20/2019). While the bulls have made a fantastic 8 ½ week run the toughest challenge may lie around the $280.00 area. The T-line and the Red/Green line continued to support the candlestick price action and the price action yesterday and this past week still suggests the bulls have the upper hand. On the flip side the $280.00 resistance, price action being overbought, TC2000 T2122 (4wk New High/Low Ratio) once again pegged to the ceiling and being up 8 ½ weeks without a meaningful bullish pull back and test. We remain bullish but back to CAUTIOUSLY bullish. Selling into strength and base hits is a key factor in our success.
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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
The SPY remains bullish with trade negotiations progressing, as you know the market does not like uncertainty. Resolving the trade war would put the market at ease when it comes to the trade war. The SPY has now broken out of the 200-SMA with the following trend. If you follow our Red/Green Trendicator, we have had 36 green dots and ZERO Red dots. Trading price action in a trend is so cool and profitable. If you are a T-Line follower price action has closed above the T-Line the last 30-days in a row. We will remain bullish as long as price action leads the T-Line and the Red/Green Line. If you would like to learn more about price action, the T-Line and the Red/Green Line check us out for a month and get a 30% discount. ✅
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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
The US Futures are taking a little rest this morning as US/China
trade negotiations resume amid new
tensions here in America. Asian markets were
flat and mixed overnight while European markets slide south with banks leading the way. As a result US markets futures are currently pointing lower but there is still a
lot of morning earnings yet to come to influence today’s open.
Without question the index trends are still up and the bulls
at least to this point appear to have almost
limitless energy to drive higher. There
are clues that this run is overextended and profit taking could soon begin but
it would be unwise to fight a relentless bull run. Trying to predict a top is just as wrong as
trying to predict a market bottom. Eventually the bulls will rest and the price will pullback but wait for the clues and
follow them rather than predict. Having
said that I would be cautious about adding too many long positions this late in the rally.
On the Calendar
On the Earnings Calendar we have 159 companies reporting results
today. Among the most notable today,
WMT, AAP, NBL, LC, AWK, CTB, CXW, DVN, ECL, FE, GPC, HLF, HST, HSBC, KAR, LZB
& TSRH.
Action Plan
After a nice 3-day weekend the current futures look as if
they want to extend the vacation by taking a little rest this morning with a
modest pullback at the open. Don’t be too surprised
if the overall market is a little sluggish this morning as well with many
traders likely extending their vacation
as well. US/China trade negotiations resume today here in the US amid
new tensions. Expect some fast price
action if there are any news leaks from the negotiation
table.
Earnings continue to roll in by in large positive and although
we are seeing a little softness this morning the bulls are clearly in charge
and the trends are still up. According
to T2122 we are very overextended but
with indexes so close major resistance levels I would not be at all surprised
to see the markets continue to extend to test them. I see these resistance levels at the DIA 260 area,
SPY 281, QQQ 171 and IWM around 158.
As per member request in this E-learning session we covered the study of price action, support, resistance, trend, price patterns, trade signals and more!
After more than a month and a half bull run the bulls
continue to show resiliency fighting hard yesterday after a very disappointing retail sales report. Overnight future traded into the red as the Asian markets reacted to the possibility of a
slowing US Economy but this morning the futures have recovered pointing to
modest bullish open.
Take a look at the weekly index charts with our a single down candle since 12/28/18 with the Dow nearly 3700 points off the low and the SP-500 nearly 400 points higher. Truly an amazing rally that has provided traders with fantastic gains. Considering that as we head into the weekend be careful not chase entries this late into the rally and remember to take some profits.
On the Calendar
On the Earnings Calendar we get a little break today with
only about 50 companies fessing up to earnings results. Notable reports DE, MCD, NWL, PEP, RBS, YNDX.
Action Plan
After a disappointing Retail
Sales report and discovering that the
President is planning to declare a national emergency the market dipped
slightly to end the day. However, the
bulls fought back hard all day long choosing to ignore the data with amazing resiliency. Ironically
Asian markets traded lower across the board in response to a slowing US Economy
and overnight US Futures traded into the red.
Once again the bulls refuse to lose and this morning the as I write the morning note, futures markets are pointing to modest
gains at the open.
There is no doubt that the index trends are still up and although
they appear stretched and losing price momentum more upside is certainly possible driven by earnings results. As we head toward the weekend remember to take
some profits and evaluate the level of risk you will hold through the weekend. We have had an
incredible month and a half bull run providing great profits, don’t give it back
by chasing entries so late in the rally.
Have a great weekend everyone!
I find the hyper-confidence currently displayed by the US markets a bit puzzling this morning especially with president reportedly considering a 60-day extension of the tariff deadline. Nonetheless the bulls are in full on beast mode this morning ahead a huge day of earnings reports and government shutdown delayed retail sales numbers.
Asian markets were subdued overnight as trade negations are
scheduled to continue into Friday. However, European markets are higher amid earnings
result and the US Futures currently indicate another gap up open. There is not a clue in the price action suggest
bearishness but this late in the rally I must admit concern about adding new long
risk with the indexes so extended. Enjoy
the ride and hold on tight and let’s hope the negotiations progress as positively
as the market is pricing everything.
On the Calendar
On the Earnings Calendar we have more than 220 companies
reporting earnings today. Watch for
notable reports from NVDA, CM, CGC, AMAT, ARCH, ANET, AZN, AVP, BLMN, CBS, CC,
CME, KO, CS, DUK, GEO, IRM, SIX, WM &
ZTS.
Action Plan
We have another interesting day ahead of us and I have to be
honest the hyper-confidence of the US
Market has me nervous and a bit
puzzled. First, reports are now questioning
whether or not the President will sign
the compromise bill which would avoid the Friday night government shutdown. I find that difficult to believe but if true I’m
confident the market will react negatively if that were to occur. Secondly, the market seems to believe a Chain
trade deal is imminent but the president reportedly is considering a 60 extension of the
deadline.
Would that not suggest negotiations
are not going that well and how is dragging this threat out another 60 days reason
to gap the market higher this morning? Things that make me say Hmmm? Asian markets were very subdued overnight but
European markets and US Future are still
determined to run higher. Remember we
have a big day of earnings and Retail Sales numbers that may move the market
around before the open.
In this e-Learning Doug Campbell explains the MACD indicator as well as why Price is really king.
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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
The SPY closed above the February high yesterday giving the bull another shot of Adrenalin to climb the wall if worry. The continuation pattern coming off the Red/Green Trendicator seems in good shape. The Red/Green is trending and the T-Line is trending above, when the engine runs it runs well. The next challenge for the bulls should be around $278.15 and a close below $270.00 good give the bear a little hope. The VIX-X chart is showing no fear hiding out under the Red/Green trend. We are still on vacation in Alaska, I have lived most of my life and it still amazes me.
Here are 4 stocks I am interested in, I will be looking for bullish follow through and positive trading. SNAP, AA, STZ, JUJ
✅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
Yesterday the market celebrated Congress passing a deal to
avoid another government shutdown but we sill have another hurdle to clear, the presidents signature. He has remarked that he doesn’t like the deal
but has also said he doesn’t think there will be another shutdown. Markets
are higher around the world on hopes that US/China trade talks are progressing positively. Although there has been no news of progress the president seems to have softened his tariff deadline. Talk about keeping the market on the edge of its
seat!
Futures are bullish this
morning ahead of a big day of earnings and a potential market-moving CPI report
out before the open. The bulls are large
and in charge and trend continues to rise but I continue to see signs of diminishing
momentum and some overbought conditions.
Stay bullish but stay focused on price action clues of weary bulls and
profit-taking. This late in the rally be
careful not to overextend and remember to take some profits along the way!
On the Calendar
On the Earnings Calendar we have a very big day with 170
companies reporting. Among the notable
reports keep your eyes on, AIG, FUN, CTL, DBA, EQIX, FOSL, DLPI, HCP, HLT, H,
KGC, LPX, MRO, NTAP, STAG, SPWR, WCN, WMB, WH & YELP.
Action Plan
After a big day up as the market responded to Congressional
deal to avoid a shutdown. Now it’s up to the President to sign it and
although he says he doesn’t like it he also said he doesn’t think there will be another shutdown. Let’s hope he does sign it because if not the
market will be very disappointed and
react negatively very quickly.
Today we have a big day of earnings and a CPI report for the
market to chew on before the open. The Asian market
and European markets are bullish on hopefulness of US/China trade negotiation progress. To my knowledge there has not been any news
on the subject other than President has mentioned he may soften his tariff
deadline position. As a result, Us Futures
currently point to a bullish gap up open.
I plan to remain bullish on the market as long as the trend holds but with
T2122 pegged near 100 I also want to careful
not to overextend with long positions.
