SPY Five Lower Lows Education is shark repelent

September 7, 2018 by Rick Saddler

SPY Five Lower Lows

With five lower lows in the SPY, this week has been controlled by the sellers, or maybe the buyers just needed a rest? Yesterdays low in the SPY came within pennies of the 20-SMA which in my book is still an acceptable pullback.

The DIA’s have fared much better closing above the T-Line, and two higher lows are trying to paint a bullish continuation pattern, go blue chips! The QQQ’s have been the poor sport, but when you look at the overall trend, the QQQ’s are still trending above the 34-EMA. If we start to breach the 34-EMA on the SPY, DIA, IWM, or QQQ’s that’s when I will become very concerned about the weakness in the market. Right now stong trading rules are needed to navigate through the rough market.

Keep in mind we believe flexibility, base hits, selling into strength and if you’re wrong about the trade simple close the trade out and own it. And a trading plan that at the very least uses a stop, entry, and a profit plan.

A good rule of thumb is if you have three losing trades in a row you might want to read up on how to handle sharks in the water.

Education Plan #1

Buy and sell stocks without a good understanding of what’s going on in a chart or the market. Buy and Sell on faith, hope, and tips you pick up. Thinking that you can learn everything you need to know before your capital burns up.

Education Plan #2

Set aside time to study, take advantage of the material available to you. There are several courses that we have available that with help with the understanding of a Trend, Price Action, Chart Patterns, Stochastics and the use of FIB Lines. Having a strong understanding of charts and management of your business greatly increases the probability of your trading success.

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A Tip From Rick – Don’t blow up your account

Did you Know? The best time to study is when the market is closed, this way you are less likely to feel pressured to look for the next great trade.

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Rick Saddler – Hit and Run Candlesticks

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Past Performance Is No Guarantee of Future Results

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020 or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone.

Focused and Flexible

September 7, 2018 by Doug Campbell

Focused and Flexible

As we head into the weekend with a strong Employment Situation report expected and the looming threat of 200 billion in tariffs, traders will need to stay very focused and flexible. The DIA, SPY, and IWM are all holding just above key support levels. Unfortunately, the QQQ’s failed its key support yesterday, but that can recover quickly if the bulls find something to inspire them. However, if the bears happen to find inspiration to attack we could see some nasty price action should support fail in the other indexes.

Stay focused on price action watching for head fakes and whipsaws. I also think it’s important to set aside your bias and remain flexible and prepared. The market is at a critical decision point, and though I’m cheering for the bulls, it’s unwise to underestimate the bears. Carefully plan the risk you carry into the weekend.

On the Calendar

The Friday Economic Calendar has only one market-moving report today, but they don’t get much more important than the 8:30 AM Eastern Employment Situation report. The consensus is expecting a strong August with job creation rising to 195,000 and the unemployment rate falling to 3.8 percent. Monthly hourly earnings are also expected to increase by 0.3 percent with the year-on-year rate rising to 2.8 percent. Manufacturing is expected to show a very solid increase of 21,000 and private payrolls rising 190,000. We have Fed speakers at 8:30, 9:00 & 10:45 AM with the Quarterly Services Survey @ 10:00 AM, the Baker-Hughes Rig Count @ 1:00 PM and Treasury STRIPS closing out the week at 3:00 PM.

On the Earnings Calendar, we have a light day with only 13 companies reporting. Before the bell, HURC & GCO are among those reporting with MSB and UBA among those reporting after the close.

Action Plan

Yesterday was an interesting day with 3 of the indexes turning lower while the bulls focused their attention on the Dow. While there were several bear attacks in the Dow creating interday whipsaws, the Bulls found a way to push right back. Overnight Asian markets were mixed but mostly lower and European markets are currently lower across the board. Consequently, current US Futures are pointing to a lower open but with a strong Employment Situation report expected an hour before the open that could quickly change the open expectation.

The QQQ’s failed at support yesterday, but the DIA, SPY, and IWM managed to hold just above key levels. With the Employment Situation report and the threat of 200 billion in new tariffs leveled against China, we will have to flexible and focused. As normal I will be looking to take some profits and reduce risk heading into the weekend.

Trade Wisely,

Doug

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No Setup and Trade Plan Market Uncertainty

September 7, 2018 by Ed Carter

There will be no Featured Trade Idea today. It’s Friday (Pay Day) anyway…when traders should be looking to book profits and take off risk ahead of the weekend. Couple this with current political turmoil (normal political discord, Kavanaugh Nomination Hearings, the Woodward book, talk of the 25th Amendment…AND the possibility of the President unilaterally implementing another $200 Billion in Tariffs on China. Then top it all off with the Indicies being in a short-term pullback, but sitting at potential Support. This all adds up to there being no good reason to chase any more trades going into the weekend. So I will be managing current positions and looking to take profits or reduce risk exposure where I can today.

Members can join us in Trading Room #1 as Rick reviews the markets and any of your charts at 9:10am Eastern.

Put the power to Trader Vision 20/20 to work for you…

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Testimonial

Trader Vision immediately simplified the process…immediately it provided that information and guidance to me. I knew what I would risk for how much reward, I began taking trades off at the 1st target, 2nd target, I was no longer holding all my trades for the homerun. I also began implementing the stop losses if and when they were reached, not just hoping the stock would recover. It then became easier to see what patterns were working for me and which were not. It provided a much more relaxed and stress-free environment. –Joan G

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Investing and Trading involve significant financial risk and are not suitable for everyone. Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or investment advice to anyone. No communication from Hit and Run Candlesticks Inc. is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

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Weekly 3 Bar Cradle Pattern Busted Out PSTG bullish above $27.35 stop $26.50

September 6, 2018 by Rick Saddler

Weekly 3 Bar Cradle Pattern Busted Out

Weekly 3 bar cradle pattern busted out and had shown bullish followthrough strength. The weekly chart has been in a fantastic bullish trend with buying opportunities on the daily chart. The daily chart shows a gap with bullish consolidation waiting for the T-Line to catch up. Price action and the T-Line have worked together again to present a buying opportunity with Tuesdays Engulfing candle and yesterdays inside day. We are bullish on the chart and a bullish buy over $27.35 with a protective stop about $26.50

Past performance is not indicative of future returns

Good Trading, Rick, and Trading Team

Over $12,500 in profits in 7 months with a cost of $595.00 Monthly Trading Results updated the first week of each month.

What’s on Rick’s watchlist today? A 246% plus increase in 7 months is a path to wealth.

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SPY • In The T-Line Trap

Yesterday was the 4^th day of a lower low and lower high, price action also fell into a gap, and the Bulls have seemed to find a little support (for now). Overall the bigger trend is still bullish bit the swing trade trend is not so much. Not until we see a reversal pattern/price action. Stick with and focus on good trading rules, if you are not making money it’s not the market’s fault. We closed 1/ our QCOM for 58% yesterday

****VXX – The VXX is still trying to construct a bottom and getting closer to the downtrend line. Will the downtrend line reject price again or open the gate?

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This is not your usual service that sends out a ton of stock recommendations, and then cherry picks the winners to show you how great they are. Hit and Run Candlesticks and Right Way Options are truly educational services. They taught me how to trade not what to trade. The entire team: Rick, Doug, Steve, and Ed are there to help and answer your questions. They are awesome. They cut years off my learning curve. And it’s a team effort. Everyone in the room (all the members) are there to help with invaluable insights and advice. The only service you will ever need. Thanks to all the team for how you have helped me and for all you do. –Jonathan Bolnick

Rare to have a service teach you how they find their choices but, HRC/RWO teach you how to fish instead of fishing for you. And, your ideas are not panned but shared, implemented, or improved. Sharing is caring. –Thomas Bradly

Past performance is not indicative of future returns

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, Right Way Option, Trader Vision 2020, Top Gun Futures or Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is to be considered financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler, Doug Campbell, Ed Carter, Steve Risner is not a licensed financial adviser nor do they offer trade recommendations or advice to anyone.

PSTG Setup and Trade Plan

September 6, 2018 by Ed Carter

Today’s Featured Trade Idea is PSTG.

Members can join us in Trading Room #1 as Rick reviews the PSTG setup and other Trade-Ideas at 9:10am Eastern. For now, here are my own analysis and a potential trade plan made using our Trader Vision 20/20 software.

PSTG has been in a bullish trend since early March of 2017. After a summer downtrend, it resumed a strong rally in August, taking a small amount of profit after the big pop. At this point the Bulls have resumed control and broken out of the consolidation/J-hook type pattern.

On Wed. PSTG put in a very long-legged Doji which shows good strength relative to the QQQ and NASDAQ charts. I will look for an Entry about where it closed, using Fib. Ext. target prices at these all-time highs. My Stop will be just below a shelf that was recent resistance and support.

Trader Vision shows us that we have 2.5 months until the next earnings report. It also shows us that this chart is displaying 5 Bullish Conditions versus no Bearish Conditions. This makes it a nice Chart Setup to consider for a trade.

TV20/20 also tells us this plan gives us only $127.50 in “Risk to Stop Out” while also having the potential for $307.50 in profit at the 1st Target price. This is a respectable 2.41:1 Reward/Risk ratio.

However, if sell half at that target, move up our Stop and ride the remainder up to the 2nd Target price, overall we can achieve a 3.26:1 Reward/Risk ($416.25:127.50). This would make for a trade with over 10% profit potential.

Having this knowledge before a trade is even entered makes it much easier to control emotions and maintain discipline.

Below is my markup of the chart and the trade plan as laid out by Trader Vision 20/20. As a bonus, if you click the green button below, you’ll be able to watch a video of the chart markup and trade planning process.

The Trade Setup – As of 9-5-18

The Trade Plan

Note how Trader Vision 20/20 does so much of the work for you. Knowing the ratio of Bullish Conditions to Bearish ones as well as the overall risk of the position size, risk to Stop out and the Reward possible at each Target price can help a great deal with controlling our emotions. Knowing the dollar impact of every scenario ahead of time, allows us to make calm decisions during the trade. It really takes the pressure off. No guesswork. No surprises. No emotional roller coaster.

To see a short video of this trade’s chart markup and trade planning, click the button below.

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Bulls Held Tough

September 6, 2018 by Doug Campbell

Bulls Held Tough

The Bulls held tough at trend and support yesterday even in the face of some nasty tech selling. Now we need to see the Bulls muster the energy to follow-through and rally off of support. With a very busy Economic Calendar today and several big earnings reports perhaps they can find the catalyst necessary to do so. If the Bulls are unable to push higher, then keep a close eye on selling pressure in the tech sector. We don’t want to see that pressure boil over in more selling that breaks support.

Be careful on the over-trade keeping in mind the possible 200 billion in tariffs threat that could happen this week and the big Employment Situation report on Friday which has in the past created light and choppy price action as the market waits.

On the Calendar

A busy day on the Thursday Economic Calendar begins at 8:15 AM with the ADP Employment Report. ADP’s estimate in August is 182,000 but, this number has been quite inaccurate month over month. The weekly Jobless Claims at 8:30 AM expect 213,000 up just slightly from last week when claims hit a 50-year low. Also at 8:30 AM is Productivity and Cost which estimates nonfarm productivity is increasing to 3.0 and labor costs down 1.0 percent.

Factory orders & ISM Non-Mfg Index are both come out at 10:00 AM. Factory Orders are expect a decline of 0.7 percent due to a sharp aircraft-related decline while the ISM consensus in August is for a slight increase to 56.7 vs. 55.7 in July. EIA Natural Gas Report is at 10:30 with the EIA Petroleum Status Report coming at 11:00 both of which do not forecast forward. Finally the Fed Balance Sheet at 4:30 PM which is scheduled to reduce securities holdings. We have a Fed Speaker at 10:00 AM, 6-Bond Announcements at 11:00 AM and the Money Supply report at 4:30 PM to wrap up this very full calendar day.

The Earnings Calendar also has its biggest day of the week with nearly 50 companies reporting. Look for BKS, GIII, and NAV to report before the bell with ABM, AVGO, FIVE, FNSR, GME, MRVL, OKTA, and PANW to report after the close.

Action Plan

Futures are pointing to a modestly higher open this morning in the Dow, but the SP-500 and NASDAQ are flat to slightly lower. Asian markets were down across the board overnight with the European markets currently holding mixed results. There is a lot of economic news today and keep in mind the big Employment Situation report comes out Friday morning. Light and choppy price action can sometimes occur as the market waist for that government employment number so don’t be surprised if price action happens to be a little subdued.

The bulls has did a great job of holding trends and support levels yesterday. If they can muster the energy to follow-through to the upside today that could prove to be very bullish for the market and an opportunity for buyers. If they are unable to push upward the selling pressure seen in the techs yesterday could trigger some additional selling. Remember the possibility of the new China tariffs still weighs on the mind of the market as well. Price is King so stay focused on price action and know that head fakes and whipsaws continue to be a possibility as we test support levels.

Trade Wisely,

Doug

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9-4-18 eLearning Trading the T-line and 3ema

September 5, 2018 by Ed Carter

Trading the T-line and 3ema

In this video, Rick Saddler discusses the current market conditions. He then gives a lesson on how to trade using the T-line (8ema) and 3ema lines. Numerous chart setups were discussed, including many potentially ready for trading on Wednesday.

1 hour 12 minutes

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Investing and Trading involve significant financial risk and are not suitable for everyone. No communication from Hit and Run Candlesticks or it’s associates should be considered as financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service

Indecisive Price Action

September 5, 2018 by Doug Campbell

Indecisive Price Action

Looking over yesterdays price action, I see indecisive candle patterns with bulls working very hard to defend against intermittent bear attacks. The index trends are still clearly intact and bullish, but the cloud of a potential 200 billion in new tariffs continues to embolden the bears to test bullish defenses. Thus far the bulls are still in control and holding above key support levels.

Unfortunately, the bulls are also having to fight against declines in Asia and Europe overnight, so futures are pointing to negative open to test the resiliency of the bulls. Thus far the VIX has remained in check, so this could prove to be nothing more than a light volume pullback and a good setup for the indexes to move higher. On the other hand, the tariff threat could green light a bear attack that breaks through support levels. Watch price action closely and be careful not to anticipate and allowing your bias to cloud your view. Whipsaw and quick price action are possible as we approach important support levels.

On the Calendar

We have an interesting Economic Calendar this Wednesday with a Fed presence as I’ve never seen before on a single day. First, we have a potential market-moving report from International Trade @ 8:30 AM which consensus suggests will show a widening deficit to 50.2 billing vs. the 46.3 billing reading in June. We have the Mortgage Application report at 7:00 AM and the Redbook at 8:55 but both are unlikely to move the market. 9:20 AM kicks off a parade of Fed speakers beginning with James Bullard, John Williams @ 12:30 PM, John Williams again @ 3:00 PM, Neal Kashkari @ 4:00 PM, John Willams for the 3^rd time at 5:30 PM, with Raphael Bostic finishing up @ 6:30 PM.

On the Earnings Calendar, we have just over 30 companies reporting. Among those reporting, today are HDS, CLDR, CTRP, CWK, DOCU, GWRE, MDB, OLLI, and ZS. Make sure you are continuing to check reporting date against current holdings or before entering new positions.

Action Plan

Yesterday saw another intra-day bear attack with a very quick selloff in the morning followed by a slow grind higher as the bulls worked to defend supports. Although the rally was nice to see, it left behind more questions than answers with indecisive candle patterns. While we slept Asian markets closed lower across the board with the European market following the trend also currently showing losses across the board.

US Futures are currently suggesting a negative start to today’s trading, but they have currently rallied off the lows cutting the potential gap down by nearly half at this point. Yesterday I suggested using some caution and being careful not to overtrade because of the current price action in the indexes is indecisive. With market around the world showing pullback it would not be a big surprise if the bears attempt to test the overnight lows. The bulls, however, will not give up control easily so we should also watch for price action clues or bullish strength as we approach important levels of support. Quick price action and whipsaws are likely as the bears continue to test the bullish defenses.

Trade Wisely,

Doug

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