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

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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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Tightening Triangle Wedge

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Tightening Triangle Wedge

The SPY is trading below the 50-SMA and above the 200-SMA while in a tightening triangle wedge. The recent low-high and higher low has pushed the 50-SMA to a slight rise. Yesterday’s close above $265.00 was a win for the buyers, but danger still lurks with crossing the 50-SMA and our red downtrend line. We still feel caution and patience is the key to success in this crazy market. At the moment we are neither bullish or bearish, we are waiting for the breakout or the breakdown from the tightening triangle wedge.

49 Trade-Ideas Added to The Watchlist

Below you will find 49 that I have added to my watchlist. Some of these trade ideas are ready to fire off now, and some may take a few days. A well-educated swing trader knows what to do. Trading can be very rewarding and extremely risky. Remember all trade ideas are ONLY for your evaluation and consideration.

Symbols from TC2000

APRN, BEAT, AQMS, CDR, AZPN, AXS, KERX, IMMU, V, INSY, HD, PNK, ERX, P, UPS, DNR, ANF, AMZN, LL, AAOI, DRN, MA, CELG, CLNE, GLUU, AXAS, MRO, WTI, CREE, WIX, SOXX, STX, DVN, HAL, BURL, XRT, XLE, VDE, XOP, VRX, XCRA, OIH, EWM, CROX, FIVE, XLU, EL, SMTC, PTN

Event Calendar

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.

 

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.

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

 

Strong Earnings performance.

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Strong Earnings performance.

earningsA slight decline in rates coupled with strong earnings performance gave the bulls want they needed to recover a good deal of the Tuesday sell-off.  While the relief rally produces some very nice profits for us, we must recognize the significant resistance that lies above on the DIA, SPY, and QQQ.  With the GDP expected to show a decline in the 1st quarter the bull may find it difficult to drive higher ahead of the weekend.  Even if the numbers come in better than expected, it would not be out of the question to see some profit-taking after the 2-day Dow rally of nearly 500 points.  Also, keep in mind there are 100 companies reporting earnings today, so continue to expect fast price action and watch for the possibility of reversal with such strong resistance above.

On the Calendar

We get things going on the calendar with the very important GDP report at 8:30 AM Eastern.  According to forecasters, the GDP should come in at 2.0 for the first estimate of the 1st quarter vs. 2.9 in the 4th quarter.  Consumer spending is expected to sharply decline to a 1.1% rate vs. the very strong 4.0% from the 4th quarter.  The GDP price index is expected slightly higher at 2.4%.  Also at 8:30 AM, the Employment Cost Index, is also expected to tick higher to 0.7% for the 4th quarter reading vs. 0.6% in the 3rd quarter of last year.  Consumer Spending comes out at 10:00 AM expects a decline to 98.0 vs. the 101.4 reading in March which was a 14-year high.  The Oil Rig count come out at 1:00 PM and Fram Prices at 3:00 PM but are not expected to move the market.

The Earnings Calendar now shows 100 companies that will report today to close our a huge week of earnings.  However, don’t relax just yet because next week is also a very big week on the earnings calendar.  Keep checking and stay on your toes.

Action Plan

With such a nice rally yesterday I would love to sound the all-clear siren, but the truth is all we have done to this point is to rally back into a zone of resistance.  After making significant strides to recover the Bulls now face a tough level of price resistance and the 50-day moving average.  Great earnings out of AMZN, INTC, and MSFT after the bell may offer some help, but currently, the Futures markets are pointing to a lower open.

Lately, Friday’s have experienced profit taking as traders the get out the way before the weekend.  With Economic reports, this morning expected to show a weakening of consumers in the 1st quarter the bulls may find it challenging to push higher.  Of course, with 100 companies expected to report today, we should expect this week’s bumpy ride to continue.  Watch for clues of reversal and have a plan to respond.  Have a wonderful weekend!

Trade Wisely,

Doug

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In case of a Bullish Market

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In case of a Bullish Market

Today’s Date April 26, 2018

In case of a bullish market in the next week or so I have 26 stocks I am adding to my watchlist. I hope you find them helpful. Remember to plan the trade and let the entry come to you.

Rick

Symbols from TC2000
APRN
BEAT
AQMS
AZPN
AXS
KERX
IMMU
V
INSY
HD
PNK
P
UPS
DNR
AMZN
LL
AAOI
MA
CELG
GLUU
AXAS
MRO
WTI
DVN
HAL
VRX

Trade Alert

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Good Afternoon team.

Remember everyone INTC reports today after the bell.  I you don’t feel comfortable holding through earnings then plan to close the position for a small gain.  However, if you are interested in holding the position you could consider buying an out of the money May Put to hedge the position.  Think of it as insurance.  If INTC moves up after earnings sell the Put in the morning at the open.  If it goes down there will be further instructions tomorrow.

New Trade Idea

XLU is breaking out today in an RBB type pattern.  I would not expect this to be a fast mover so we want to give it plenty of time.  Consider the June or the July 49 Call for a straight directional trade. Consider an initial stop at $50.00.  If the ETF moves up for us we my looking at selling calls against the position at a later date.

Doug

Remember all trade ideas are for your evaluation and consideration.

Public e-Learning April 24, 2018

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Public e-Learning April 24, 2018

Webinar/Replay Click Here

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

[testimonials style=”8″ margin_top=”” margin_bottom=””][testimonial name=”Alan%20Helmstetter” company=”” href=””]%3Cp%3EI’ve%20been%20managing%20my%20own%20money%20for%20many%20years%20and%20have%20been%20interested%20and%20dabbled%20in%20trading%20stocks.%20I%20joined%20some%20services%20over%20the%20years%2C%20but%20none%20worked%20for%20me.%20I%20am%20getting%20closer%20to%20retirement%20and%20wanted%20to%20learn%20more%20about%20trading%20stocks%20as%20something%20to%20do%20in%20retirement%20and%20to%20supplement%20income.%20I%20learned%20all%20about%20candlesticks.%20Did%20much%20paper%20trading%20of%20stocks.%20Results%20were%20good%2Fbad%20and%20never%20got%20ahead.%20Came%20across%20a%20free%20HRC%20webinar%20and%20really%20liked%20the%20approach.%20Joined%20a%20month%20trial%20and%20also%20attended%20an%20RWO%20webinar.%20Decided%20to%20join%20RWO%20because%20of%20the%20options%20approach%20and%20have%20been%20a%20member%20for%20four%20months.%20Rick%20and%20Doug%20are%20the%20real%20deal.%20Both%20are%20amazing%20at%20reading%20charts%2Fprice%20as%20well%20as%20teaching%20their%20expertise.%20In%20the%20daily%20chatroom%20you%20will%20get%20potential%20trades%2C%20but%20more%20importantly%2C%20you%20will%20become%20part%20of%20a%20team%2C%20learn%20how%20to%20identify%20trades%20and%20even%20more%20importantly%20how%20to%20properly%20plan%20and%20manage%20trades.%20You%20know%20the%20adage%20–%20%22You%20give%20a%20man%20a%20fish%2C%20and%20you%20feed%20him%20for%20a%20day.%20You%20teach%20him%20to%20fish%2C%20and%20you%20give%20him%20an%20occupation%20that%20will%20feed%20him%20for%20a%20lifetime.%22%20%3Cstrong%3EGive%20them%20a%20try%20you%20will%20not%20regret%20it!%3C%2Fstrong%3E%3C%2Fp%3E%0A

[/testimonial][/testimonials]

 

GLNG Resting on T-Line, Bullish Flag

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GLNG Resting on T-Line, Bullish Flag

GLNG has broken out and now resting on the T-Line with a Bullish Flag, Doji, and a near Bullish Engulf. Bullish trading over $30.90 should encourage more traders to follow, a breakout over $32.40 could produce a swing to the high $37.00 area. $40.00 possible with follow through. FYI the market must cooperate. We will cover more details about stops and entries in the HRC trading room.

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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 •

Facebook reported well and seemed to be holding pre-market. Above $167.10 should make the market a little happy.

Yesterday the SPY found the 61.8% Fib retracement and closed with a Hammer; I suspect we see the buyers attempt new high today. The important number to beat in the very near future is the $265.00 line, that would put the buyers in a position to challenge the $268.00 line and the bearish downtrend line.

The VXX chart did not back off much yesterday, but I see it has backed off a little this morning pre-market.

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.

[testimonials style=”10″ margin_top=”” margin_bottom=””][testimonial name=”Fred%20Narielvala” company=”” href=””]%3Cp%3EI%20have%20been%20a%20member%20of%20HRC%20for%20five%20years%2C%20RWO%20for%20three%20years.%20I%20applaud%20the%20efforts%20of%20all%20coaches%20Rick%2C%20Doug%2C%20Ed%20and%20Steve%20(also%20fellow%20members)%20in%20helping%20me%20become%20a%20better%20trader%20than%20I%20was%20starting%20out%20and%20I%20am%20still%20learning.%20Doug%20reinforces%20the%20%22Price%20is%20King%22%20mantra%20every%20day%20since%20we%20traders%20tend%20to%20forget%20it%20in%20the%20midst%20of%20finding%20the%20next%20’sure%20thing’%20indicator.%20Rick%2C%20will%20make%20us%20sometimes%20answer%20our%20questions%20to%20foster%20the%20thinking%20and%20quicken%20the%20learning%20process.%20Over%20the%20years%2C%20I%20have%20been%20in%20many%20trading%20rooms.%20I%20am%20here%20to%20stay.%20This%20room%20and%20its%20members%20are%20the%20best.%20Period.%3C%2Fp%3E%0A

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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 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.

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

 

Potholes abound.

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Potholes abound.

PotholesWithout question, this has been an odd earnings season full of potholes making for a very rough ride.  It began with the big banks beating estimates on both the top and bottom line but found sellers for the effort.  Unfortunately, that seems to have become a trend of this season as strong earnings reports continue to bring out the bears.  After the bell yesterday, we received a large number of strong reports, and once again the futures are pointing to a bullish open.  The question is will the positive open once again attract sellers?  A challenging environment to be certain.

The DIA, SPY and the QQQ are farther from the last swing highs of 4/17 and 4/18 then they are from the April lows.  The bounce yesterday was a nice relief, but with we remain under the 50-day averages the bears have the advantage, and any weak rally is therefore suspect.  Be very careful because the road ahead could be full of deep potholes.

On the Calendar

The Thursday Economic Calendar kicks off at 8:30 AM Eastern with the Durable Goods report.  Consensus expects an increase of 1.7% in March with ex-transportation up 0.5% and core goods rising 0.6%.  International Trade in Goods also out at 8:30 AM expects the deficit to narrow in March to $74.0 billion.  The one last 8:30 AM report today is the weekly Jobless Claims which consensus expects to come in at 230K as strong labor demand remains solid.  There are several other reports today as well at three bond events, but they are not expected to be market-moving.

A very busy day on the Earnings Calendar with 387 companies stepping up to report quarterly results.  Reports by in large continue to come in strong, but the trend this season appears to attract more sellers than the buyers after strong results.  Stay on your toes.

Action Plan

After Tuesday’s strong selloff the indexes managed to find a little buyers support, but bulls seemed to lack conviction.  At the end of the day, downtrends are still intact, and the DIA, SPY and QQQ’s remain under significant resistance levels.  Stocks that report strong earnings gap up at the open only to find sellers driving the price back down.  An odd and very challenging earnings season to trade.

As always the best defense is to say focused on price action and remain flexible.  Dow Futures are pointing to a slight gap up open this morning on the back of strong earnings reports.  The question is will that once again bring ou the sellers?  Tough call.  Currently, the Dow is over 950 points away from the swing high on 4/17 and about 700 points from the April low.  Stuck in the middle of the range I think anything is possible and traders have some very tough decisions to make.  Plan your risk carefully if you decide to trade and prepare for the possible intraday whipsaw that could reverse the market direction.

Trade Wisely,

Doug

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