Looking at VECO Setting Up
We have been looking at VECO setting up the past ten days or so. VECO is creating a Pop Out od The Box Pattern with candle signal and patterns within the box, inside a Rounded Bottom Breakout. The buyers have been able to keep price above the V-Stop and the T-Line Low. You look at the daily 20day, 3-day 4-day and weekly chart you will see several little bullish patterns.
We will discuss the trade details with our trade plan in our Members Morning Prep starting at 9:10 EST this morning. members morning briefing
►Recently closed
WTW 21.9% • VIPS 118% • VXX 375% • TWTR 180% • QQQ 179% • QQQ 28% • TWTR 54% • OCN 37%
[button_2 color=”green” align=”center” href=”https://ob124-cea4cb.pages.infusionsoft.net/” new_window=”Y”]Fibonacci Retracements and Extensions Workshop[/button_2]
►SPY Up-Date
The SPY finished yesterday with a Hanging Man up against the 50-SMA and pre-market we see weakness. If you have seen our indices charts, you have seen the Symmetrical Triangle. The conclusion is very simple; the sellers close us below the lower line the suggestion is we test the February lows. The buyers close us above the upper line suggestion is we challenge the January high.
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
►The VXX short-term futures
VXX weekly chart is a bullish setup, and the recent weekly candles are trying to mount an attack, over $48.50 the attack should heat up.
►Rick’s Swing Trade Ideas Reserved for Subscribing Members
30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual
To learn more about our trading tools join us in the trading room or consider Private Coaching. Rick will help coach you to trading success.
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.
*************************************************************************************
Symmetrical triangle
Yesterday follow-through bullishness was a welcome sight, but at the same time, it raised additional caution flags as we approach the 50-day average resistance on the SPY and the IWM. The DIA still has to rally significantly just to reach its 50-day with the QQQ’s remain the dominant market leader. Looking at the index charts, we now see the possibility of a tricky symmetrical triangle pattern. The Symmetrical triangle pattern gives us about 50/50 odds of it breaking higher or breaking down. The large range between the high and low makes the current pattern particularly challenging.
If you recall it was just one week ago when the Dow rallied 400 points in a single day. The next day it gave it all back, and that was when the index had managed to break above the 50-day. Now the dilemma we face is that the big rally yesterday only brought is back to test the underside 50-day average. Fortune may favor the bold if your right on direction but the bold could also lose a fortune if they happen to be wrong. Volatility remains high so plan your risk accordingly.
On the Calendar
Today’s Economic Calendar begins and ends with Fed Speakers today on the lead of the FOMC announcement on March 21st. Dudley speaks at 7:30 AM, Brainard at 7:00 PM and Kaplin at 8:30 PM. The Redbook number is out at 8:55 AM as well as a couple of bond events which are very unlikely to move the market. However, the Factory Orders report at 10:00 AM can move the market and according to consensus will see a decline 1.2% in January.
On the Earnings Calendar today we have 142 companies reporting results. Stay vigilant as the first quarter earnings season drags on and on.
Action Plan
A very encouraging day yesterday as indexes followed through on from Friday’s bullishness. The higher low has now developed a potential wedge pattern or what many call a symmetrical triangle. The SPY and IWM are not testing their respective 50-day averages but still have the resistance levels above as well as the downtrend yet to conquer. Believe it or not, the Dow needs to rally 400 points more just to test its 50-day averages as resistance, so there is still a lot of work that needs to be done by the bulls. As of now, the Dow will have to prove it can get back over the big round number 25,000 which it could do battle with today.
A wedge pattern (symmetrical triangle) can be a tricky pattern to negotiate especially if that pattern has the huge range between the highs and lows we currently have on the DIA, SPY, and IWM. The current rally has produced a lot of good-looking charts. Keep in mind if the indexes fail to break-through the 50-day resistance the swing lower to test support again could be very punishing on any new entries. Plan your risk carefully.
Trade Wisely,
Doug
[button_2 color=”green” align=”center” href=”https://youtu.be/KI8iCCc3f28″]Morning Market Prep Video[/button_2]
Currently Long TWTR
Hit and Run is Currently long TWTR, and we feel it may push higher. We are looking for TWTR to climb to the high 40’s with normal pullbacks and obstacles to overcome. The weekly chart has constructed a bullish bottom with a bull “W” pattern. Yes TWTR is approaching a little resistance followed by a weak spot on the chart that price may want to slip through. Want to learn how to deal with the resistance ahead and collect 30-40%, consider joining our team
We will discuss the trade details with our trade plan in our Members Morning Prep starting at 9:10 EST this morning.
Hope to see everyone at the members morning briefing 9:10 EST today.
[button_1 text=”Whats%20behind%20the%20Blue%20Button%3F” text_size=”32″ text_color=”#000000″ text_bold=”Y” text_letter_spacing=”0″ subtext_panel=”N” text_shadow_panel=”N” styling_width=”40″ styling_height=”30″ styling_border_color=”#000000″ styling_border_size=”1″ styling_border_radius=”6″ styling_border_opacity=”100″ styling_gradient_start_color=”#3570ff” styling_gradient_end_color=”#3570ff” drop_shadow_panel=”N” inset_shadow_panel=”N” align=”center” href=”https://hitandruncandlesticks.com/private-personal-coaching-right-from-the-pros/” new_window=”Y”/]
►SPY Up-Date
The SPY put together another bullish day yesterday on the south side the 50-SMA, to get the bulls back into a strong bullish trend price will need to be the north side of the 50-SMA and bring a few moving averages with it. Above $275.90 would put the bulls in a good position to mount the attack on the January high. If price cant finds a way over the 50-SMA, another test of the 200-SMA is in the cards.
►Learn Our Tools and Trading Techniques
On November 6, Rick shared TWTR as a trade for members to consider and how to use the trading tools listed below. Currently, the profits could have been about 73% or $1468.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits.
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
►The VXX short-term futures
As of yesterday, VXX is quietly working to hold the 200-SMA. We will keep it on our watchlist but no activity right now.
►Rick’s Swing Trade Ideas Reserved for Subscribing Members
Symbols from TC2000
SGRY
UIS
TWTR
CALA
MULE
OCN
QUOT
CHGG
UAA
FOSL
CVEO
SYNT
LPSN
AEO
To learn more about our trading tools join us in the trading room or consider Private Coaching. Rick will help coach you to trading success.
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.
*************************************************************************************
Currently Long TWTR
Hit and Run is Currently long TWTR, and we feel it may push higher. We are looking for TWTR to climb to the high 40’s with normal pullbacks and obstacles to overcome. The weekly chart has constructed a bullish bottom with a bull “W” pattern. Yes TWTR is approaching a little resistance followed by a weak spot on the chart that price may want to slip through. Want to learn how to deal with the resistance ahead and collect 30-40%, consider joining our team
We will discuss the trade details with our trade plan in our Members Morning Prep starting at 9:10 EST this morning.
Hope to see everyone at the members morning briefing 9:10 EST today.
►Recently Closed Positions
WTW 21.9% •VIPS 118% • VXX 375% • TWTR 180% • QQQ 179% • QQQ 28% • TWTR 54%
[button_1 text=”Whats%20behind%20the%20Blue%20Button%3F” text_size=”32″ text_color=”#000000″ text_bold=”Y” text_letter_spacing=”0″ subtext_panel=”N” text_shadow_panel=”N” styling_width=”40″ styling_height=”30″ styling_border_color=”#000000″ styling_border_size=”1″ styling_border_radius=”6″ styling_border_opacity=”100″ styling_gradient_start_color=”#3570ff” styling_gradient_end_color=”#3570ff” drop_shadow_panel=”N” inset_shadow_panel=”N” align=”center” href=”https://ob124-30c5bf.pages.infusionsoft.net/” new_window=”Y”/]
►SPY Up-Date
The SPY put together another bullish day yesterday on the south side the 50-SMA, to get the bulls back into a strong bullish trend price will need to be the north side of the 50-SMA and bring a few moving averages with it. Above $275.90 would put the bulls in a good position to mount the attack on the January high. If price cant finds a way over the 50-SMA, another test of the 200-SMA is in the cards.
►The VXX short-term futures
As of yesterday, VXX is quietly working to hold the 200-SMA. We will keep it on our watchlist but no activity right now.
►Rick’s Swing Trade Ideas Reserved for Subscribing Members
30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual
To learn more about our trading tools join us in the trading room or consider Private Coaching. Rick will help coach you to trading success.
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.
*************************************************************************************
How clever are you?
The Friday was a welcome sight but was it truly a hold of price support. When the market is bearish, it’s easy to for traders to mistake a relief rally for bullishness. Please keep in mind that a one-day-rally does not reverse a downtrend. Remember to confirm a bullish candle price must follow through. Over the years I learned that lesson the hard way by jumping in thinking I was clever enough to catch the exact bottom. Although it would work every now and then, more often than not, I had my head handed to me with a big loss. Not so clever after all!
I just like you am hopeful Friday’s rally will prove to hold price supports. The operative word is “prove.” One day of bullish price action is hopeful, but it is not proof! The truly clever have the patience and discipline to wait for some proof and consequently take much less heat on their trades.
On the Calendar
W begin this week on the Economic Calendar with only one important report. At 10:00 AM Eastern the IWM non-MFG index is expected to decline a bit but still very strong at 58.8 vs. January’s 59.9. There are two reports that are not expected to move the market as well three bond actions and a Fed Speaker at 1:15 PM.
On the Earning Calendar, we have just about 60 companies fessing up quarterly results. Make sure to keep checking as the earnings season continues to drag on for what seems forever.
Action Plan
After gapping down nearly 200 in at open, the bulls found some energy to rally off the lows in all four of the major indexes. With the fear of Trade Wars heating up the futures are holding up better than I would have expected this morning. As I write this, the Dow Futures on pointing to a 50 point gap down. Not great but better than the triple point gaps of late.
Volatility is likely to remain high, but the hope of the QQQ, SPY, and IWM holding support is encouraging. If we could get a little calming of the nerves and have price action take a little rest, perhaps better trader could be just around the corner. Don’t mistake hope for bullishness. Remember we are still in a downtrend and a hold near price supports may only be temporary. Stay focused on price action, stay disciplined to your rules and plan carefully.
Trade Wisely,
Doug
[button_2 color=”green” align=”center” href=”https://youtu.be/lgiPnd7JaiI”]Morning Market Prep Video[/button_2]
Bullish Engulf On Support
EGHT printed a Bullish Engulf over a Doji on support Friday breaking out of a bullish flag and the recent top. The trend has been normal with the opportunity with plenty buy areas. Once again I see the potential to ring the bell. With the market condition, any and all trades are risky We will discuss the trade details with our trade plan in our Members Morning Prep starting at 9:10 EST this morning.
Hope to see everyone at the members morning briefing 9:10 EST today.
[button_1 text=”Benefits%20of%20using%20Fibs” text_size=”32″ text_color=”#000000″ text_bold=”Y” text_letter_spacing=”0″ subtext_panel=”Y” subtext=”Click%20and%20Learn%20More” subtext_size=”17″ subtext_color=”#f91010″ subtext_bold=”Y” subtext_letter_spacing=”0″ text_shadow_panel=”N” styling_width=”40″ styling_height=”30″ styling_border_color=”#000000″ styling_border_size=”1″ styling_border_radius=”6″ styling_border_opacity=”100″ styling_gradient_start_color=”#23b946″ styling_gradient_end_color=”#23b946″ drop_shadow_panel=”N” inset_shadow_panel=”N” align=”center” href=”https://ob124-cea4cb.pages.infusionsoft.net/” new_window=”Y”/]
►SPY Up-Date
The SPY close Friday smacks dab on one of our support/resistant lines ($265.95) with nearly a Bullish Piercing candle. This price action may spark a little buying to the $270.90 are not likely to last in the current political environment. Tread carefully this week.
►Learn Our Tools and Trading Techniques
On November 13, Rick shared CBAY as a trade for members to consider and how to use the trading tools listed below. Currently, the profits could have been about 64% or $591.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits. CBAY is back on the list with a Bullish Engulf.
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
►The VXX short-term futures
We did very well with our VXX trade last week and plane to trade it again with the time is right…Stay tuned
►Rick’s Swing Trade Ideas Reserved for Subscribing Members
30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual
To learn more about our trading tools join us in the trading room or consider Private Coaching. Rick will help coach you to trading success.
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.
*************************************************************************************
