The economy is humming right along.

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The economy is humming right along.

The economy is humming right along.With last weeks numbers indicating the economy is humming right along with strong jobs growth and wage increase, the Bulls seem ready to mount attacks on resistance levels.  The European concerns have passed at least for now, and the US and North Korea summit is back on the schedule.  This weekend the President will travel to Canada for the G7 Summit where there could be some tensions after leveling new tariffs on steel and aluminum on them last week.

Trade negotiations on the North American Free Trade Agreement and with China will likely continue to send shock waves through the market over the next several weeks, but Bulls currently seem inspired to move higher with a substantial gap up open to begin the week.

On the Calendar

The Economic Calendar this week gets going at 10:00 AM Eastern with Factory Orders.  According to consensus, the durable good report expects orders to slip 0.4 percent in April.  After that, there is Bill Announcement, two Bill Auctions, and the TD Ameritrade IMX report to close the calendar day at 12.30 PM.

Earnings Calendar

The Earnings Calendar shows 32 companies will report today to keep traders on toes with the most notable PANW after the bell.

Action Plan

With the Jobs number coming in strong and real wages increasing the Bulls found the inspiration they needed to move higher on Friday.  International concerns in Italy and Spain have subsided, and it appears the summit with North Korea is back on for June 6th.  Trade negotiations will once again take center stage and continue to weigh heavily on the market particularly with the President traveling to Canada this week.

Currently, the Dow Futures are pointing to more than a 100 point gap up at the open.  After breaking resistance on Friday, the QQQ looks ready to attempt a new record high in the near future.  The SPY is set to gap above resistance at the open today with the IWM leaning the way looking to post a new record high at the open.  As always be very careful not to chase gap up opens as they can often create nasty whipsaws.  Having said that, the Bulls do seem set to gain some control as long as trader negotiation jitters remain in check.  Go Bulls!

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/3GYzShdS77Y”]Morning Market Prep Video[/button_2]

GLUU Recently Broke Out

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GLUU Recently Broke Out

GLUU had recently broken out and ran 20% before it needed rest to build another bullish continuation pattern. Continuation patterns rarely look as perfect as they do on paper, this is because when on paper the noise is usually cut out. But on a chart, you just can’t photoshop the noise out. Using price resistance and Fibonacci Lines we see 12 to 28% possible target zones in this swing trade. You can find the GLLUU trade Plan under “Free Trade Idea” “TV20/20 Trade Plan”

Fibonacci Retracement and Extention Workshop June 7, 2018

  • Why do Fib Ratios Work?
  • Why Should You Use Extensions instead of Projections?
  • Answers to Common Problems Using Fibs.
  • Where do you begin and end your drawing?
  • Do we use Bodies or Wicks?
  • Which Ratios should be your focus?
  • How to Identify the major support/resistance Levels with Fibs?
  • How to Find Entries with Fib Retracements?
  • How to Set Targets Using Fib Extensions?
[button_2 color=”red” align=”center” href=”https://ob124-cea4cb.pages.infusionsoft.net/” new_window=”Y”]Fibonacci Tools Provide Price Targets[/button_2]

Don’t miss this powerful Workshop, when you know how Fibs works your work and determining profit zones becomes clear!

SPY Bullish Morning Star

For a Bullish trend you must have followed through, and higher lows and higher highs. Friday we saw follow through from the 3rd major higher low that started in April. Fridays bullish follow through is what was needed to complete the Bullish Morning Star signal from last week. Our Red, White and Blue indicators are still signaling in favor of the Bulls. VXX – The Red, White and Blue indicator is signaling there is not much fear in the VXX chart. Price is also below the T-Line

Rick’s Trade-Ideas Reserved for Members

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

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

 

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Investing and Trading involve significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc. or Rick Saddler is to be considered 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.

*************************************************************************************

 

 

Politically driven whipsaw.

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Politically driven whipsaw.

Politically driven whipsawIt looks like yet another politically driven whipsaw this morning in Dow with the Futures currently pointing to more than a 100 point gap up at the open.  The good news is that the Dow managed to hold above the 50-day average yesterday as it struggles to find a balance amidst all the political uncertainty.  I believe a politically charged market is one of the most challenging to trade.  It can shift directions in half a heartbeat turning profitable positions into losers and vice-versa.

As traders become more and more frustrated, it’s easy to break discipline and begin to trade emotionally.  If you find yourself riding this emotional roller-coaster; try to focus on your trade plan and rules or stop trading until you can.  Remember trading is business, and there is no room in business for undisciplined emotionally charged decisions.

On the Calendar

It’s been a busy week on the Economic Calendar, and this Friday continues that trend with five potential market-moving reports.  Before the market open, forecasters expect Motor Vehicle Sales to hint at a strong month for retail with a 17.1 million annualized rate in May.  At 8:30 AM Eastern the Employment Situation consensus is calling for additional strength with a consensus of 190,000 new jobs created in May.  The unemployment rate holds steady at 3.9% while wage growth is only up a modest 1 tenth to 2.7 percent.  9:45 AM bring the PMI Mfg. Index where forecasters expect a 56.6 reading in May as orders continue to run at multi-year highs.  The ISM Mfg Index at 10:00 AM expects gains to 58.5 in May vs. 57.3 April report with strong growth for new orders continue.  Also at 10:00 AM consensus suggests Construction Spending rallied 0.8 percent in April.  We have a Fed Speaker at 8:55 AM and the Baker-Hughes Rig Count at 1:00 PM to close the calendar week.

On the Earnings Calendar, we only have 13 companies reporting today.

Action Plan

Another day of politically generated volatility with the Dow narrowly clinging its 50-day average by the close.  After waiting a month for a better trade deal, the President is keeping in his promise by imposing tariffs and steal and aluminum on Mexico and the EU.  Of course, nations have already fired back with new tariffs of their own as the negotiations continue.  Surprisingly markets are up around the world with both Asian and Europian markets showing solid gains.  As a result, the Dow Futures are pointing to a gap up open of more than 100 points as the index continues to whipsaw on a daily basis.  With the SPY, QQQ, and IWM all holding up quite well I continue to be cautiously bullish.  I wish you all a wonderful weekend everyone.

Trade Wisely,

Doug

National Doughnut Day

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National Doughnut Day

Ya, it’s Friday and National Doughnut Day, being that it’s Friday we don’t usally post any trade ideas. As choppy as this markets been I don’t think it’s a great idea to be entering trades on a Friday’s and holding over the weekend. Rather it’s a better idea to close a few positions and take your money or even a loss or two. I just flipped through the recent trade ideas, and plenty looks like there set up and ready to run. FYI I don’t close all my positions before the weekend, but I do tighten up the account.

Trading Proof Provided

If you have been following the progress of my 2018 project “Road To Wealth” I have a little update. It looks like the account is up 175% ending with May, not to bad. The project started January 1, 2018, with $5,000.00, Starting June 1, the account is now worth $13,568.00.

Every month we have an educational workshop to help become a better trader. On June 6th the workshop will be on Fibonacci Retracements and Extensions. Check it out Click Here

SPY Market

The is no doubt the SPY and the market has been a bit choppy and difficult to navigate from time to time we still think the bulls have the upper hand. The charts tell the story. Education is the key to beating the charts.

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

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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KRG Trade Setup and Plan

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Normally, Hit and Run Candlesticks does not post featured trades on Fridays.  However, I’ll offer a bonus trade idea for today anyway.  Just remember that Friday is payday!  We should be primarily focused on existing postions, taking profits and deciding if weekend headline risk changes whether a potions should be adjusted or closed.

Today’s Featured Trade Idea is KRG.  This stock has printed an Inverted Head and Shoulders pattern, which is also a Rounded Bottom Breakout pattern.  It has broken through the neckline and Resistance on Wednesday.  It then retested that level Thursday, holding it as Support.  On positive trading, we can use a stop fairly tight below Support and Target prices from Support/Resistance levels off the Weekly chart.

While this stock is a REIT (be aware for tax purposes), it will offer a very low Risk for a reasonable position size.  This offers a good Reward/Risk Ratio, while allowing us to remove all risk (by raising the Stop above Break-even) if Target #1 is reached.  If the stock reaches the second Target, the Trade Goal will be achieved.

Hope to see you in the trading room at 9:10am Eastern.

Below is my analysis and a potential trade plan made using our Trader Vision 20/20 software.

The KRG Trade Setup – As of 5-31-18

 

 

The KRG Trade Plan

 

Notice how Trader Vision 20/20 does the work for you, by allowing you to define your risk in terms of “Position Size” (Dollars invested in a trade), “Risk to Stop” (Dollars lost if stopped out) and in terms or Reward/Risk Ratio.  It’s easy to look at all the various scenarios using Trader Vision.  So you know…

  • How much money is at risk if Stopped Out?
  • How much will be gained if we sell the entire position at Target #1?
  • What does that mean in terms of Reward/Risk Ratio?
  • How much will be gained if we sell half the position at Target #1 and the remainder at Target #2?
  • What does that mean in terms of Reward/Risk Ratio?

Knowing all these scenarios really takes the pressure off a trader, making it much easier to control your emotions during a trade.  It also logs all this information so that down the road you can see exactly what you were thinking.  These are some of the benefits of TV20/20

 

 

 

Time is running out…Act fast if you want to register for the Upcoming Workshop:

Trading With Fibonacci Retracements/Extensions

6/7/18 at 8pm Eastern

  • Why do Fib Ratios Work?
  • Why Should You Use Extensions instead of Projections?
  • Answers to Common Problems Using Fibs.
  • Where do you begin and end your drawing?
  • Do we use Bodies or Wicks?
  • Which Ratios should be your focus?
  • How to Identify the major support/resistance Levels with Fibs?
  • How to Find Entries with Fib Retracements?
  • How to Set Targets Using Fib Extensions?

 

[button_2 color=”red” align=”center” href=”https://ob124-cea4cb.pages.infusionsoft.net/” new_window=”Y”]Fibonacci Retracement An Extensions Workshop • Click To Learn More[/button_2]

 

 

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

 

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Investing and Trading involve significant financial risk and is not suitable for everyone. 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.

Ed Carter is not a licensed financial adviser nor does he offer trade recommendations or advice to anyone.

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Bulls stepped up.

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Bulls stepped up.

Bulls stepped upWith Euro jitters fading (at least for now) the bulls stepped up to the plate yesterday in a show of strength.   Holding the DIA and SPY 50-day average is vital if we hope to see additional price improvements in the market.  The IWM moved with great confidence yesterday once again posting record high as it reacted bullishly to support.

These bullish moves in price still face key resistance levels as political uncertainty continues to swirl.  Today the White House is expected to decide on steel and aluminum tariffs affecting some important trading partners.  Obviously, the market is sensitive to this issue and react swiftly to the decision so keep a close eye on price action and prepared to react.

On the Calendar

The Thursday Economic Calendar starts with the Weekly Jobless Claims and Personal income and Outlays at 8:30 AM Eastern.  Consensus suggests the weekly claims will come in at 224,000 a full 10K decline from last week.  Personal income expects a moderate 0.3 percent in April with consumer spending is expected to increase 0,4 percent.  Exclude both food and energy, and the core index expects only a 0.1 percent increase to 1.8 percent annual reading.  At 9:45 AM the Chicago PMI is expected to rise to 58.4.  Then at 10:00 AM forecasters expect Pending Home Sales to increase 0.4 in April as more homes come to market helping to boost sales.  The EIA Petroleum Status reports is the last of the market-moving reports this morning and in not forwardly forecast.  We have two Fed Speakes today at 12:30 PM & 8:30 PM along with two bond events and several non-market-moving reports to close the day.

The Earnings Calendar shows 63 companies reporting today with AEO, DG, and DLTR before the open.  After the bell, we will hear from COST, LULU, and GME.

Action Plan

After the sharp morning gap up the bulls found stored reserves of energy pushing the markets sharply higher as Euro Jitters dissipated for the time being.   Trade will be on the mind of the market today as the White House may decide to move forward on steel and aluminum tariffs.  Currently, Futures are pointing to a flat to slightly lower open but with a big day of economic reports and several earnings events that could quickly change.

As our current positions continue to extend gains, make sure you are adjusting stops to protect profits.  Don’t let greed get in the way of taking profits as political uncertainty continues to swirl on trade negotiations, North Korea and the Euro.  The DIA, SPY, and QQQ continue in consolidation between key support and resistance levels.  Breakouts or failures of these key levels could create some fast price action so watch closely.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/keWjHf24skI”]Morning Market Prep Video[/button_2]

CDNA T-Line Bullish Morning Star

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CDNA  T-Line Bullish Morning Star

CDNA has been trending for the past two months, on May 11, consolidation started which put CDNA on our radar. Yesterday price action broke out of the consolidation with a Morning Star signal (type) after a 3 bar Pull Back Opportunity (PBO). Using Fib lines and depending on the entry a 20-30% swing is possible. We are adding CDNA to our watchlist only at this time. We may or may not take the trade depending on price action and market conditions. Do you have the trading education to be a successful trader?

Trader Vision CDNA Trade Plan Click Here

Fibs An Important Tool For The Tool Box

  • Why do Fib Ratios Work?
  • Why Should You Use Extensions instead of Projections?
  • Answers to Common Problems Using Fibs.
  • Where do you begin and end your drawing?
  • Do we use Bodies or Wicks?
  • Which Ratios should be your focus?
  • How to Identify the major support/resistance Levels with Fibs?
  • How to Find Entries with Fib Retracements?
  • How to Set Targets Using Fib Extensions?
[button_2 color=”red” align=”center” href=”https://ob124-cea4cb.pages.infusionsoft.net/” new_window=”Y”]Master Fibs With Hit and Run Candlesticks – Learn More[/button_2]

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 Bullish Morning Star

Yesterday the SPY closed with a Bullish Morning Star above the T-Line, the T-Line is above the 34-EMA trending, and the 34-EMA and 20-SMA are trending as well. The V-Stop has flipped from a one day red back to green. The April 18 candle is important for support and resistance, note that price action and the T-Line are above the April 18 candle. The next challenge for the SPY is $274.00. Overall we are bullish on the SPY, please read the VXX comments.

VXX – Price action closed the last 2 days above the T-Line and held fairly well yesterday. Still, below the trend line, a break above the trend line would be a clue of trouble in the market.

Rick’s Trade-Ideas Reserved for Members

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. or Rick Saddler is to be considered 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.

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