Tweet-storms an uncertainty

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Tweet-storms an uncertainty.

Tweet-stormsSadly yesterdays bullish attempt to break through resistance was unsuccessful amid presidential trade comments and Tweet-storms that continue to ruffle feathers.  The bad news is that the futures this morning are pointing to a gap down market open confirming the bearish engulfing patterns printed on all four major indexes.  The good news is that the 50-day moving averages and the current trend still hold the possibility of supporting price.

Unfortunately, as the trade negotiations continue the market will have to tiptoe on eggshells as we wait for a resolution.  Toss in the North Korean summit the North American trade negotiations and the FOMC minutes, and we have a pile of uncertainty likely to keep the market on edge.

On the Calendar

The hump day Economic Calendar has four potential market-moving reports.  The first is the 9:45 AM PMI Composite Flash which consensus expects the composite at 54.8, manufacturing at 56.5 and services at 54.6.  At 10:00 AM New Home Sales according to forecasters will slow slightly to a 677,000 annualized rate vs. the 694,00 April surge.  The EIA Petroleum Status report at 10:30 AM has shown a slow, steady trend of declining supplies helping to support rising oil prices.  Then at 2:00 PM is the FOMC minutes which may shed more light on the Fed’s thoughts regarding future interest rates.   Other than that we have 2-bond auctions at 11:30 AM and 1:00 PM followed by a Fed Speaker at 2:15 PM to complete the calendar day.

On the Earnings Calendar, there are 33 companies reporting today.  Among those before the bell is TGT and LOW with CPRT and NTAP fessing up after the bell.  Stay on your toes.

Action Plan

A disappointing day in the market after the White House expressed disappointment about the progress of the China trade negotiations.  Unfortunately, that left behind bearish engulfing candle patterns on all four major indexes.  The bearish engulfing requires follow through with a lower low print today to be valid, and sadly the Futures are pointing to a substantial gap down this morning.  Of course, the move lower and failure at resistance is a concern but if there is a silver lining, it would that indexes still have their 50-day averages and trend as support.  Let’s hope the bulls are strong enough to defend and the Tweet-storms subside.

Trade Wisely,

Doug

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TLRD Pop Out OF The Box

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TLRD Pop Out OF The Box

TLRD is forming a Pop Out Of The Box pattern while walking to the trending T-Line. The 34-EMA and the 50-SMA are also trending with the bulls. The weekly chart has recently painted a bullish “W” pattern and cleared the weekly 200-SMA. Yesterday we bought TLRD looking for a 20% plus profit. We will cover more details about stops and entries in the HRC trading room. Live Members Morning Prep with Steve Risner at 8:45 AM Est. And Rick Saddler at 9:10 am this morning.

Averaging $1600.00 per month profit started with a $5,100.00 5.5 months ago. Results may differ from trader to trader. Yes, we provide statement transparency. It’s time to stop wishing and hoping for trading success.

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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

SPY

The May 14, top held the SPY back yesterday as the buyers are trying to find a crack in the seller’s armor. The chart pattern of the last 13 trading days remains mostly bullish. King of the charts (Price Action) still trending above the T-Line and the T-Line is still trending upward. Take a peek at the monthly chart, and you will see a Bullish Morning Star candle pattern. A close above $275.00 would promote a challenge of the March highs and a close be $270.00 would make the sellers happy.

VXX – Price formed a Doji yesterday below the T-Line, as long as price stays below the T-Line fear will not boil.

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Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning, Fibonacci, Stoch/RSI

To learn more about our trading tools join us in the trading room or consider Private Coaching.

Testimonial

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

 

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

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Two-sided price action

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Two-sided price action.

Two-sidedIt was of course very nice to the Bulls so inspired in the early morning session yesterday producing some very nice profits for the beginning of the week.  Unfortunately, after making a run at resistance levels, the price action became very two-sided and left behind candle patterns of concern rather than confidence.

Tucked up against resistance and printing possible topping candle patterns leaves a trader stuck in a bit of a quandary.  Is the door open to a path of profits or is it a trap door with just enough rope to hang yourself if you dare to wager a prediction.  I must admit I am holding on to hope that the bulls will find the energy to push through resistance but that hope will not prevent me from being ready if Bears ultimately wins the battle at resistance.

On the Calendar

An unusual second day in the row of no expected market-moving reports on today’s Economic Calendar.  The Redbook comes out at 8:55 AM Eastern, followed by the Richmond Fed Mfg. Index at 10 AM.  After that, two bond auctions are occurring at 11:30 AM and one at 1:00 PM.

On the Earnings Calendar, 50 companies are reporting their quarterly results.  Before-the-bell AZO, TJX, KSS, AAP and TOL.  After-the-bell,  INTU, and URBN may be noteworthy.

Action Plan

With a little uncertainty in the price action at resistance, it will be important to watch closely and have a plan for both a bullish or bearish move.  As this battle continues, it will be very important to remain flexible, unbiased and focused on price action clues.  The good news is that the early Dow Futures are pointing to another bullish gap this morning and perhaps indicating the Bulls have enough energy to follow through.

With the IWM suggesting the 6th day up and another record high this morning I would watch this index closely for clues of a possible pullback at any time.  It may well serve as an early warning system for the overall market if a pullback does begin.

Trade Wisely,

Doug

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Bullish Piercing Candle On Support

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Bullish Piercing Candle On Support

COUP has produced a Bullish Piercing Candle on Support after a few days of consolidation. The weekly chart shows a perfect J-Hook Continuation pattern with a breakout and a test of the breakout point ($50.70). You can see on the weekly chart COUP has been bouncing off the rising T-Line creating a nice T-Line Run. Above $54.00 we could see a 20% swing

We will cover more details about stops and entries in the HRC trading room. Live Members Morning Prep with Steve Risner at 8:45 AM Est. And Rick Saddler at 9:10 am this morning.

180% in our trading account in less than six months.

yes, we can prove it!

What could you do with a little extra cash? Send me an email and let me know. Seriously, send me an email, let me know what you could do with little extra cash, and you might be one of 2 winners. We are giving away 2 Quarterly Memberships

Subject: Extra Cash • We are giving away 2 Quarterly Memberships

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Testimonial

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

SPY

Trade issues on hold and the market pops. Nothing changes, the chart and price action is where we do our work. The SPY produced a Doji Friday and still using the T-Line and April 18 as support. $275 remains an important area for the buyers to break through. Last week the sellers Evening Star (Daily chart) held the buyers back. Perhaps9 a positive close today will begin the end of the Evening Star action.

IWM a driving force broke out and held its ground last week. IYT slow but held it’s own, above $195.25 could put this vehicle in motion. SMH pulled back last week and its premarket looks a little weak, $102.90ish may be a destination.

VXX – With price trending down there seems to be no fear in this market. Bulls live on another day.

Rick’s Trade-Ideas Reserved for Members

30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual

Focus Trading Education

Candlesticks • Price Action • T-Line • T-Line Bands • Support • Resistance • Trend • Trendlines • Chart Patterns • Buy Box • Volatility Stops • Profit Zones • Entry Zones • Protective Stops • RBB Rounded Bottom Breakout Strategy • Pop Out of The Box Strategy • Pinball Strategy • Trade Planning, Fibonacci, Stoch/RSI

To learn more about our trading tools join us in the trading room or consider Private Coaching.

Testimonial

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

 

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

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Playing nice

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Playing nice with each other.

Playing niceThe Bulls appear ready to leap the fence this morning gaping the Dow sharply higher with the other indexes following suit.  The media labeled, Trade War, was apparently called off as China and US officials playing nice with each other.  Big surprise, mutually assured destruction of economies was never the goal!

Although the market looks to open higher across the board, they still have significant levels of resistance to deal with just above.  The Bulls may have the inspiration to leap higher, but the question is do they have the energy to break through resistance.  Keep that in mind as you plan your trading day and be careful not to chase entries into resistance.

On the Calendar

The Economic Calendar has a full day scheduled for the Monday, but none of the reports are likely to move the market.  The Chicago Fed National Activity Index at 8:30 AM, 3-bond reports, and Fed Speakers at 11:30 Am, 2:15 PM, and 5:30 PM.

On the Earnings Calendar, we have 48 companies fessing up to their quarterly results.  Although earnings season is winding down, traders must always be aware of the earnings reports on companies you hold or at thinking of buying.  Failure to do so can lead to a very expensive lesson in planning and preparation.

Action Plan

News over the weekend that the US and China will play nice with each other and earnestly work to avoid a so-called Trade War has the bulls fired up this morning.  After only four days of consolidation, the Dow looks as if its ready to trade another run at 25,000.  Currently, the Dow Futures are indicating a gap up of more than 200 points with the other indexes leaping as well.

As exciting as it is to see the bulls inspired higher be careful not to chase and enter trades at price resistance.  Make the market and the stock you are considering for purchase prove they can not only breach resistance but hold it as support.  Years ago that was a major problem for me, and it cost me a lot of money and time.  I would get caught up in the morning hype, leap in with both feet and later realize I had entered positions almost exactly at the point of a pullback.  A pain lesion I hope you don’t have to learn the hard way as it did.

We should have some very nice profits this morning on our long positions.  Our two short positions that are holding some very nice gains will likely give back some of the gains, but as of now, the trade patterns are still valid if you choose to hold.

Trade Wisely,

Doug

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Shine The Harley Up and Ride

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Shine The Harley Up And Ride

Ya, it’s Friday! My plan today is to trade a little, shine the Harley up and go for a ride. The life of a trader can be so very rewarding, but it does take a little work. Todays Trading Prep in the trading room starts at 8:45 AM. Why are we worth $85.00 per month? 145% gain in our project account in 5.5 months -That’ Why We never claim and never will claim to have 100% winners (that is impossible), and we will never claim to turn $5000.00 into 5 million in 5 years (that’s total bull crap)!

Recent Trades • Project Account

If you have been following the Hit and Run Candlesticks 2018 project account you know we are up 145% for the past 5.5 months. Learn from others how to produce income. You may not want a Harley but I can’t imagine not having a traders life.

 NKE 95.3% • GPRO 11.29% • QQQ 13.7%  • UAA 34.8% • MOMO 5.95% • VRX 30.17% • UPS 36.9% • WB 12.6% • FOSL 57.4%

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SPY Market

The T-Line once again is supporting price, while price slowly tries to crawl back to the crime of May 14. The battle is really starting to heat up between the buyers and sellers. Buyers want to be above $275.00, and sellers want to be below $265.00. Our short-term Red, White and Blue trend is bullish but hasn’t been strong enough to push price through the seller’s wall.

Testimonial

In the past eight months, I have been a fortunate member of Hit and Run Candlesticks Right Way Options. The education on a day-to-day basis is both informative and fun. The E-learning further cements the learning experience along with the educational archives and methodology. If you enjoy working with other members to solve mutual options strategies engagingly with a sense of purpose, then this membership can be yours. -Jerry Hefner

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

 

Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. is financial or trading advice. All information is intended for Educational Purposes Only. Terms of Service.

Rick Saddler is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone except for the trading desk of Hit and Run Candlesticks Inc.

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