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%

[button_2 color=”green” align=”center” href=”https://hitandruncandlesticks.com/hit-and-run-candlesticks/” new_window=”Y”]Monthly • Semi-Annual • Annual • The First Step[/button_2]

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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Consolidation?

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Consolidation?

ConsolidationOnce again the small caps manage to set new record highs.  However, the DIA, SPY and QQQ’s remain stuck between significant levels of support and resistance.  Currently, the Bulls and Bears seem equally matched and seem to have slipped into a tight range consolidation at least for the short-term.

Futures are pointing to a higher open but that open looks as if it will occur inside the range of the consolidation.  Perhaps one side or the other will be able to find some inspiration in the news, but I wouldn’t be at surprised to see another day of 2-sided price action.

On the Calendar

There is nothing on Friday’s Economic Calendar likely to move the overall market.  We have Fed Speakers at 3:00 AM,  and two at 9:15 AM.  Then at 1:00 PM is the Baker-Hughes Rig Count to close out the day.

The Friday Earnings Calendar only has eight companies reporting as 2nd quarter earnings wind down.  However, there are two noteworthy reports from CPB and DE that happen before the bell.

Action Plan

Yesterday we saw a little 2-sided price action with the bulls and bears equally matched and settling into a narrow consolidation pattern.  With light days on both the Economic Calendar and the Earnings Calendar, the market may have to look for inspiration from the trade negotiations news.  Currently, the Futures are pointing to a bullish open, but the DIA, SPY, and QQQ all look as if they will open in the consolidation range.  After the morning rush, I would not be at all surprised to the price action become light and choppy as we head into a summer weekend.

As always my primary focus ahead of a weekend is profit taking rather than adding additional risk.  Of course, any trades that you plan to hold through the weekend should have thoughtfully places stop orders in place as well as hedges to the position or portfolio.  It’s been a fabulous week of profits so let’s keep that going right into the weekend.  I wish you all a wonderful weekend.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/b2OzaiwLdco”]Morning Market Prep Video[/button_2]

Weekly Rounded Bottom Breakout on NBR

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Weekly Rounded Bottom Breakout on NBR

The weekly Rounded Bottom Breakout on NBR caught my eye before the market closed yesterday. The weekly Red White and Blue indicators have turned up nicely, and the daily chart has been trending. On the weekly chart, I can see an “Inverse Head and Shoulder” Bullish Morning Star and a Flag. The first target zone is about 23% away, and the last one is 115% away.

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.

Did you know I (Rick Saddler) opened a small $5000.00 test account to make a point and in 5.5 months it is now up 145%? Climb aboard the train to financial freedom with us. We have Monthly • Semi-Monthly and Annual memberships. Cancel at any time.

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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

The buyers are a bit skittish of the Evening Star that printed earlier this week. Yesterdays bullishness tried to recover but met intraday resistance when trying to overcome the full gap and star. The T-Line and the center peak of the “W” pattern have performed well the last two days as support, so the questions are will it continue to perform. Overall I remain bullish with price action still holding above the 23.6 Fib line of the recent run. Below $270.15 the $267.55 area should get tested.

VXX closes below the T-Line and gives no help to the recent Bull Kicker.

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.

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

 

IWM, New Record High!

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Russell, New Record High!

New Record HighYesterday turned out to be very productive for current positions.  The Russell poked a finger in the eye of resistance breaking through to a new record high.  The SPY and QQQ had solid moves higher with the DIA lagging in more of a consolidation pattern.  Currently, the Futures are pointing to a flat to slightly lower open however that could quickly change with earnings reports and economic news.  Today is the Speaker Ryan’s imposed deadline on the North American Trade Agreement and the trade negotiations with China begin as well.

Although IWM set a new record high yesterday keep in mind the SPY, QQQ, and DIA remain under significant resistance levels.  As a result, we must watch for the possibility of reversal at or near resistance and prepare plans if the unfortunate event occurs.  Business requires planning and trading is a business like any other!

On the Calendar

Market-movers on today’s Economic Calendar are the Weekly Jobless Claims and the Philly Fed Survey both of which come out at before the bell at 8:30 AM Eastern.  Consensus estimates suggest Jobless Claims will increase to 215k vs. the last reading at 211k but continue to demonstrate a strong labor demand.  The Philly Fed Survey forecast is 21.0 for May vs. the April reading of 23.4 as it pulls back from a nearly 50-year record high.  The reports not expected to move the market, Consumer Comfort, E-Commerce Sales, Leading Indicators, Natural Gas report, 8-bond related events, Fed Balance Sheet, Money Supply and two Fed Speakers.

On the Earnings Calendar, WMT reports before the bell along with 40 other companies throughout the day.

Action Plan

As your planning for the day keep in mind that the SPY, QQQ, and DIA are still below significant resistance levels.  As they approach test these key levels, it’s important to stay focused on the price action.  No matter how much we want prices to break through resistance, we have to prepare for the possibility they could fail.  I think a consolidation in this area would be my personal preference to build energy one way or the other.  As you know what we want and what we get are two very different things, and as of now, Mr. Market has not called to ask me what I prefer.  Consequently, I have to remain unbiased and have a plan for all possibilities.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/hNB7yTr1gDY”]Morning Market Prep Video[/button_2]

Stuck in the Middle

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Stuck in the Middle

Stuck in the MiddleWith the indexes wedged between the significant levels of support and resistance, it reminds me of that old Stealers Wheel song, “Stuck In The Middle With You.”  The bears could easily take control and drive us down toward support, or the bulls could quickly mount another attack on resistance depending on which side finds the inspiration.  Pre-market earnings or economic new could easily provide that inspiration as could news on trade negotiations or the North Korean leader issuing threats.

So whats a trader to do?  Remain flexible and unbiased, stay focused on price action and have a plan ready for either direction.

On the Calendar

On this hump day, we have three potential market-moving reports on the Economic Calendar.  At 8:30 AM Eastern the Housing Starts consensus expect April starts to come in at 1.324 million annualized vs. 1.319 million in March.  New housing permits according to consensus will decline slightly to 1.350 vs. the 1.379 reading last month.  Industrial Production comes out at 9:15 AM and consensus expects a solid 0.6 percent gain with manufacturing growing by 0.3 percent.  Forecasters also expect Capacity Utilization of manufacturers to grow to 78.3 percent in April.  10:30 AM brings the EIA Petroleum Status Report is not forwardly forecast but has supported higher oil prices with U.S. reserves slowly declining.

There is a 7:00 Mortgage App. Report, a 10:00 AM Atlanta Fed Business Inflation expectation report and 2-Fed Speaker at 8:30 AM and 6:30 PM, none of which is expected to move the market.

The Earnings Calendar shows 55 companies reporting today with M coming in before the bell and CSCO after the market close.

Action Plan

After the morning gap down yesterday, the bears made a solid attempt to move the market lower but the bulls put in a very strong effort lifting the indexes of the low of the day before the close.  Unfortunately, DIA, SPY, and QQQ are currently floating about halfway between significant support and resistance levels so price could easily break in either direction.  Futures have been bouncing between a positive and negative this morning as it waits on early earnings reports and housing numbers to find inspiration.

With North Korea kicking sand at the U.S. and ongoing trade negotiations we need to remain flexible because just one news report could influence the direction of the market in about half a heartbeat.  Stay focused on price and have a plan for either direction today.

Trade Wisely,

Doug

[button_2 color=”green” align=”center” href=”https://youtu.be/8kVFqHthdQc”]Morning Market Prep Video[/button_2]

Rounded Bottom Breakout J-Hook

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Rounded Bottom Breakout J-Hook

I will be considering TTPH because of the  Bullish Rounded Bottom Breakout J-Hook pattern. Using the (RBB) strategy, TTPH has a potential 40% to the top (RBB) target zone. The past eight bars have formed a J-Hook (continuation) pattern that could push price into the $4.45 area then to the $5.30 area.

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. Learn More About Hit and Run Candlesticks Click Here

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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

The SPY lost a little ground yesterday falling to the T-Line where buyers found a little comfort. Buys stepped in to create a small Hammer candle, today the buyers will be looking for follow through, and the wise trader will wait for confirmation. Confirmation is important because the past three candles formed an Evening Star which could lead to more weakness. Right now I am still bullish on price above $268 and bullish with tons of caution above $265.00

 

VXX – The VXX drew a Bullish bull Kicker yesterday but still in a hard downtrend so it will be important to see positive trading before trading their Bull Kicker candle pattern.

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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