UAA IS Setting Up, Weekly RBB

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UAA IS Setting Up, Weekly RBB

UAA is setting up on several time frames, but the weekly is the one that caught my eye. Bullish “W” pattern, Bullish Morning Star, Testing support with success, RBB pattern, Doji continuation pattern. With a 4-6% risk (depending on where it’s entered) the profit potential is pretty darn good. We will cover more details about stops and entries in the HRC trading room.

Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner at 8:45 am and Rick Saddler at 9:10 am this morning.  30-Day Trial

Event Calendar

SPY • Let the Traffic Pass

Stay alert and cautious when playing in traffic, or maybe wait until the traffic passes. AAPL beat and pre-market it is trading above the daily 50-SMA, holding the 50-SMA today would be one of the bulls today. We have the Feds report today on top of more earnings, is this the perfect storm or what? So the SPY showed a bit of bullishness yesterday bouncing off our lower green support line. But let’s stay with reality! The 34-EMA is trending below the 50-SMA, and the 50-SMA is trending down. Price is still below our bearish trend line.

The VXX still hovering above the 200-SMA, let me know when it gets above the 50-SMA.

Rick’s Trade-Ideas Reserved for Members

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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

I have been a member of HRC for five years, RWO for three years. I applaud the efforts of all coaches Rick, Doug, Ed and Steve (also fellow members) in helping me become a better trader than I was starting out and I am still learning. Doug reinforces the “Price is King” mantra every day since we traders tend to forget it in the midst of finding the next ‘sure thing’ indicator. Rick, will make us sometimes answer our questions to foster the thinking and quicken the learning process. Over the years, I have been in many trading rooms. I am here to stay. This room and its members are the best. Period!

Fred Narielvala

 

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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AAPL in focus.

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AAPL in focus.

AAPLThere is an old saying,” with great power comes great responsibility.”  Not many companies ever wield the power that the tech behemoth AAPL.  So with the overall market struggling to find its footing, I guess it’s fitting that the AAPL earnings report could be responsible for reversing or confirming market direction.  Suppliers of this tech giant have raised speculation that orders of chips and displays have declined by as much as 50% begging the question, will AAPL miss earnings estimates?  If the company reports better than expected, expect a gap up Wednesday morning, however, and AAPL miss will likely produce a sizable gap down.

As soon the fireworks over the AAPL report have subsided the market will turn its focus the FOMC announcement at 2:00 PM Eastern time on Wednesday.  With such big hitters coming up to bat I would not be at surprised to see choppy price action today as the market waits holding its breath and hoping for a positive outcome.  Get ready for a wild ride.

On the Calendar

The FOMC begins its 2-day meeting on this first day of May Economic Calendar.  The PMI Manufacturing Index, out at 9:45 AM, expects to come in unchanged at 56.5 in April but continues at multi-year highs.  The biggest number or the day, ISM Mfg Index, come out at 10:00 AM and according to consensus will decline slightly but remains strong in April coming in at 58.6 vs. the 59.3 March reading.  Also at 10:00 AM is the Construction Spending report which forecasters expect to grow by 0.5 percent in March.  A 4-week Bill Action will close out the calendar day at 11:30 AM.

Another big day of earnings reports with just over 260 companies on the calendar.  Stay on your toes and keep checking reporting dates for the companies you hold or those you’re about to purchase because there are more than 800 reports yet to come this week.

Action Plan

An unpleasant day on Monday as the market served up a classic Pump and Dump leaving behind a lot of bearish candle patterns.  The DIA, the SPY, printed Bearish Engulfing patterns that are unfortunately showing a failure at the 50-day SMA.  The QQQ followed through to the downside confirming Friday’s failure of the 50-day SMA.  The IWM joined the party yesterday with a bearish engulfing pattern breaking its 50-day average after working so hard to hold it last week.  Earnings reports by-in-large continue to come in strong, but sadly profit takers continue to overpower buyers reacting to the good results.

Although there are over 260 companies reporting today all eyes seem to focus on just one, AAPL.  The tech giant is weighed heavily in not only the QQQ but also the DIA and SPY.  AAPL reports after the bell today and could reverse or confirm the current market downtrend.  It would be wise to plan for a market gap up or down Wednesday morning.  If that were not enough drama, the market must turn its attention to the FOMC announcement at 2:00 PM Eastern time.  Buckle up this could be a very bumpy ride.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/1wcneV9azPM”]Morning Market Prep Video[/button_2]

Energy Is Hot Right Now

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Energy Is Hot Right Now

Energy is hot right now, and EQT has opened the door for us with a Rounded Bottom Breakout pattern. The gap a few days ago on heavy volume has now presented us with a Flag pattern sitting on price support and the 50-SMA. A bullish flag breakout could fuel EQT into the $57.00 plus area or 13-15%. We will cover more details about stops and entries in the HRC trading room. Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner and Rick Saddler at 9:10 am this morning. members morning briefing

ADM 41% • IWM 13% • SHLD 57% • FOSL 11% • IWM 49% • CVEO 29% • GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •

Event Calendar

SPY • A Big Week Ahead

AAPL reports tonight, and today the Feds start their 2-day meeting. Yesterday the SPY closed below the very important $265.00 line which gave the sellers more of an edge if the buyers can’t bring us back over the $265.00 the resent low area and more will likely get tested, $261.50 t0 $259.95. I know this chop go nowhere trading is getting aggravating and is tuff to trade at times. Price is getting close to a pivot point in the current triangle pattern, a break one way or the other is likely. For the past few weeks, I have heard predictions in favor of the buyers and favor to sellers. The truth is “Predictions” is a dangerous game to get into but when the market is directionless more and more predictions are made. Sometime we must stand back and wait to see the direction the wind is blowing. Overtrading never helps anyone.

The VXX chart is below the 50-SMA and sitting on the 200-SMA, the current candle price action has painted a Flag pattern.

Rick’s Trade-Ideas Reserved for Members

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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

I have been a member of HRC for five years, RWO for three years. I applaud the efforts of all coaches Rick, Doug, Ed and Steve (also fellow members) in helping me become a better trader than I was starting out and I am still learning. Doug reinforces the “Price is King” mantra every day since we traders tend to forget it in the midst of finding the next ‘sure thing’ indicator. Rick, will make us sometimes answer our questions to foster the thinking and quicken the learning process. Over the years, I have been in many trading rooms. I am here to stay. This room and its members are the best. Period!

Fred Narielvala

 

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.

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

 

Big Week of Data

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Big Week of Data

dataThe market faces a very big week of Economic data and earnings reports to keep traders on their toes.  On Wednesday we have an FOMC interest rate announcement and Friday the big Employment Situation report.  With all the rumors of slower sales, AAPL earnings will be the center of attention after the bell on Tuesday.  AAPL has a huge weighting in not only the QQQ but the DIA and SPY as well.  Suffice it to say if AAPL misses estimates the overall market will feel the impact.

With the DIA, SPY and QQQ’s still below the daily 50-simple-moving-average this week could be critical.  It could serve as the inspiration for Bulls the break-through resistance or give the Bears the energy to push the overall market lower.  Traders should prepare for an extra dose of price volatility this week as the market reacts to all this data.  Fast price action, intraday whipsaws, and big opening gaps that could create full-on reversals are definitely within the realm of possibility this week.  Plan your risk carefully and stay focused on price action clues.

On The Calendar

The Economic Calendar begins the last trading day of April three important reports.  At 8:30 AM Eastern Personal Income and Outlays should jump as much as 1.6 to 2.0 % hitting the FOMC’s price target according to consensus estimates.  Personal income is also expected to rise 0.4 percent.  The Chicago PMI at 9:45 AM expects a slight increase to 57.8 vs. the 57.4 reading in March.  Pending Home Sales comes out at 10:00 AM and expects a 1.0 percent increase in March to follow up the big 3.1 percent jump in February.  After that, we have the Dallas Fed Mfg Survey and three bound events which are not expected to move the market.

Action Plan

With so many Earnings and a calendar full of big economic data, this could be a week of big gaps and fast price action.  Futures currently point to a bullish open but let’s keep in mind that three of the four major indexes have significant resistance above.  Also, keep in mind with the big jump expected in Personal Income and Outlays report there is the possibility that interest rate fears could once again influence trading.

AAPL could be a big driving force this week, and all eye will be focused there after the bell on Tuesday.  Expect a big gap up or down Wednesday morning depending on the results.  The FOMC announcement on Wednesday afternoon with also have the market on edge not to mention the Friday Employment Situation report and well over 1000 companies reporting.  Volatility could become very challenging with whipsaws and morning gap reversals so plan your risk carefully.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/Msb7yEEGTxY”]Morning Market Prep Video[/button_2]

BKD (RBB) Morning Star Breakout

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BKD (RBB) Morning Star Breakout

BKD has become an (RBB) pattern with a Morning Star Breakout. After a gap down in February, BKD has walked sideways for about 2-months. The Bullish Morning Star Broke out into a Rounded Bottom Bottom (RBB) Pattern Friday on good volume. With bullish follow-through BKD has a few swing target zones to consider up to about 30% in the (RBB) strategy. We will cover more details about stops and entries in the HRC trading room.

Live Members Morning Prep starting at 8:45 AM Est. With Steve Risner and Rick Saddler at 9:10 am this morning. members morning briefing

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Recent Trades

ADM 41% • IWM 13% • SHLD 57% • FOSL 11% • IWM 49% • CVEO 29% • GE 11% • ANF 56% • CREE 51% • FLO 3% • VXX 6% • CAT 39% • TWTR 50% • FEYE 28% • OCN 39% • TWTR 54% • QQQ 28% • QQQ 179% • TWTR 180% • VXX 375% VIPS 118% • WTW 21.9% •

Event Calendar

SPY • A Big Week Ahead

Over 130 stocks report, and we hear from the FED’s this week.

Price has been trapped between the bearish red line and the bullish green line for some time now. Thursday and Friday were able to close and hold over the neutral $265 line. Price will be above the 3,8,17 pair this week; the question is will it hold? $267.80 followed by $269.10 will be important for the buyers to move past and the sellers would love to push us back through $265.00

AAPL reports Tuesday, just saying

Last week the VXX chart was not able to put much together, but it is not out of the game. Over $44.40 we could see game.5

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

I have been a member of HRC for five years, RWO for three years. I applaud the efforts of all coaches Rick, Doug, Ed and Steve (also fellow members) in helping me become a better trader than I was starting out and I am still learning. Doug reinforces the “Price is King” mantra every day since we traders tend to forget it in the midst of finding the next ‘sure thing’ indicator. Rick, will make us sometimes answer our questions to foster the thinking and quicken the learning process. Over the years, I have been in many trading rooms. I am here to stay. This room and its members are the best. Period!

Fred Narielvala

 

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.

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