Bullish T-Line Run MRO Bullish Over $18.90

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Bullish T-Line Run

Bullish T-Line RunMRO has been in a bullish T-Line Run and has slowed to move sideways for the 3rd time. Each time the buyers picked it up and push higher. Yesterdays Bullish Harami is a clue that the buyers are still around and active. The last four bars have supported above the recent bullish construction. Bullish above $18.90, to learn more about entries join us in the member’s area or consider a trading coach.

Today At 9:10 AM ET. We will demonstrate live how MRO could be traded using our Simple Proven Swing Trade Tools

 

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On October 12, we shared, in detail, the technical chart properties of PNK in our members Trading Room and why we thought this chart was ready for a profitable run. Yesterday the swing profits would have been about 37% or $900.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits. (See Above) PNK is now setting up again with a Pop Out of The Box Pattern.

Candlesticks • Price Action T-Line • T-Line Bands • Support • Resistance • 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 • Continuation Patterns • Trade Planning

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► Eyes On The Market

The buyers managed to put together a Bullish Harami yesterday against the Bear Dark Cloud Cover (The Battle IS On). The buyers and seller will fight it out, and the chart will move higher or lower depending on the winner. The fight between the Dark Cloud Cover and the Bullish Harami will take place in bullish territory with price above the T-Line, and the T-Line is trending in the bullish direction.

The VXX short-term futures closed with an inside day Doji yesterday against an Island reversal breakout candle. Yesterday’s price action and close created the second bullish V-Stop support and closed above the Lower T-Line Band. Bottom line the VXX short-term futures are trying to construct a reversal bottom.

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Investing and Trading involves 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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More buyers than sellers! 

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More buyers than sellers! 

More buyers than sellersWhy?  More buyers than sellers!  Yesterday was nothing short of amazing as the bulls squeezed out any and all would be bears that dared to get short Wednesday.  Does the market appear very stretched? Yes.  Does that mean it must necessarily selloff?  Obviously not!  Everything seems to be coming up roses for the market.  Employment is very strong; businesses are growing, wages are increasing, manufacturing is on the rise, consumer confidence is near all-time highs, housing is strong and although rising rates are still historically low.  Now the question is can earnings growth justify current prices?  Early reports seem to suggest that the answer is, Yes.  Will it continue?  Only time will tell.

On the Calendar

The Thursday Economic Calendar has three important reports at 8:30 AM Eastern time.  First, we have Housing Starts which consensus is expecting a slight pullback to 1.280 million vs. 1.297 million annualized.  November permits are expected to come in at 1.300 million vs. 1.303.  Second, is Weekly Jobless Claims are expected at 250k a slight decline from last week.  The third is the Philly Fed Business Outlook continues to show enormous strength with backlogs building as new orders pour in faster than shipments can move out the door.  At 11:00 AM is the EIA Petroleum Status Report which has shown supplies trending lower with the cold winter demand increasing.  After that, we have a one Fed speaker at 6:05 PM, some non-market-moving reports and bunch of bond actions to round out the calendar day.

On the Earnings Calendar, we have more than 45 companies expected to report today.  Banking continues to be in focus such as KEY,  PACW, and MS before the bell.  JBHT is also notable before the bell today with IBM and AXP in focus after the close today.

Action Plan

Talk about a big daily price action whipsaw!  The Dow gained more than 300 points completely reversing the big selloff just the day before.  The Dow closed for the first time above 26,000 as early short traders were squeezed out by this raging bull.  The SPY and QQQ also posted new closing records while IWM lagged slightly behind but recovering significantly from Tuesday.  Although the market appears to very stretched, the simple fact is there are still more buyers than there are sellers.  Fear of a market correction seems non-existent as the bulls relentlessly charge higher.

As always I will stay with the trend, but I must admit to being very cautious about the wild enthusiasm the market is displaying.  Bullish complacency such as we see right now can quickly backfire so stay very focused on price action for clues.  With the futures pointing to a bullish open try not to get caught up an chasing stocks already well within a run.

Trade Wisely,

Doug

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Gift of the Huge Gap

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Gift of the Huge Gap

Gift of the Huge GapA market top or just a hesitation?  Clearly, traders opened the gift of the huge gap up open yesterday ringing the resister to protect profits.  Amid all the speculation that this was a market top lets remember that one day does not make a trend!  While it’s true, the market appears stretched and could benefit from a rest or pullback don’t expect the bulls to give up that easy.  There are several very big earnings reports today that could move the market, and I think most are expecting positive results.  Will it be enough to support this lofty market level is the question?  Higher volatility is likely as battle lines develop between the bulls and the bears.  Market sensitive is also likely as we move closer to a federal government closure unless Congress can get its act together.  The road ahead could have big potholes so make sure you have a well thought out plan.

On the Calendar

The Wednesday Economic Calender gets going at 9:15 AM with the latest reading on Industrial Production numbers.  Forecasters see industrial production rising 4.0 in December with total capacity utilization moving up to 2 tenths to 77.3%.   At 10:00 is the Housing Market Index which consensus is calling for a very slight for January to 73 vs. Decembers 74 reading.  Then at 2:00 PM, the Beige Book, comes out which is a report on economic conditions used at FOMC meetings.  We have three Fed Speakers today at 3:00 PM and 3:15 PM and finally 4:30 PM.  The report on Treasury International Capital which tracks the flow of financial instruments in an out of the U.S is released at 4:00 PM.

On the Earnings Calendar, we have 30 companies expected to report today, and several of them could be market moving.  Before the bell, we have GS, BAC, SCHW, FAST and USB.  After the bell, we will hear from, AA, FNLC, HBHC, and KMI.

Action Plan

Yesterday traders remembered the sell button location on their brokerage platforms taking advantage of the huge morning gap.  All four of the major indexes managed to set new record highs before selling began with the DIA breaking above 26K briefly.  As spooky as it might have seemed let’s keep in mind that a one-day pullback does not a trend make.  In fact, at the close of the day, all the major indexes are still above their rising trends.  What will be very important is if a follow-through day so selling occurs.  However, as I write this, the Dow futures are pointing to gap up of more than 120 points suggesting the bulls are prepared to fight.

Keep in mind; we have a bunch of big earnings report this morning that could move the market substantially before the market open.  Yesterday turned out to be one huge whipsaw, and I would not be at all surprised increased volatility continue for the next several trading days.  Price action around market highs can experience very fast reversals in either direction.  Also, remember the market could react sharply on the washing spin as we approach a federal government closure if a budget bill deal passes.

Trade Wisely,

Doug

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J-Hook Continuation Pattern KL Bullish above $16.70

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J-Hook Continuation Pattern

J-Hook Continuation PatternKL has recently run about 24% and has pulled back managing to find support above the Lower T-Line Band and the V-Stop. The chart pattern is a J-Hook Continuation pattern. The overall chart trend remains bullish while Gold is bullish in general. Using Fib Lines we have profit zones between 6 and 28 percent. Price closed below the Low T-Line then printed a Bullish Engulf back in November.

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► Learn the Power (SGRY)

On December 12, we shared, in detail, the technical chart properties of SGRY in our members Trading Room and why we thought this chart was ready for a profitable run. Yesterday the profits would have been about 60.5% or $590.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits. (See Above)

► Eyes On The Market

As long as price closes above the Lower T-Line Band and the V-Stop we will remain bullish. A price candle requires confirmation of 2 to 3 candles. The last ten days in the SPY we have seen a steeper than normal drive higher causing a bit of exhaustion and sellers to wake up. A close below $274.40 would show the sellers outnumber the buyers, a close below $272.55 would suggest the sellers plan to test the December Highs.

The VXX short-term futures have presented us with a weekly Bullish Borning Star and a daily close over the Upper bullish T-Line Band and has turned the V-Stop from red to green.

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Investing and Trading involves 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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Trade Alert

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Good morning team.

This morning Dow futures are pointing to a 200 point gap up this morning as this amazing bull run continues.  In this kind of market a reversals can occur very fast.  Much faster than I can get notifications out to take profits.  So please everyone have a plan to not only protect profits but also capital if/when the bears show up to eat.  I’m not suggesting that will be today but we all need to be prepared.

BAC, if you are still holding this position keep in mind it reports earnings on the 17th.  A gap up open may be the perfect time to exit the trade an put those profits of more than 25% in the bank.

MSFT made a really nice move on Friday and closing with more than a 25% gain.  Again a gap up this morning may be a good time to consider profits.

The current VLO position is up 151%.  The position still looks very good but never let greed prevent you from taking a profit.  The same is true of the XLE position that is currently up 127%.

The trade in WMT is up 24%.  You make the call.

Those still holding CSCO are up huge.  Don;t let that go away.

Please understand I am not suggesting you need to sell any positions.  They all continue to look very good.  I’m only wanting to remind everyone not to let greed prevent you from taking profits.

Doug

Remember all trade ideas are for your evaluation and consideration.

Stampede of Bulls

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Stampede of Bulls

Stampede of BullsThe 2018 Stampede of Bulls rages onward and upward.  They have been running so long, and so hard you would think their hearts would soon explode.  Any bear that predicted they would soon stop has perished under their pounding hooves.  If you long the market stay long the market until price action clues suggest profit taking has begun.  If you’re on the sidelines then for goodness sake don’t let the fear of missing out convince you to chase this late in the rally.  As profits grow in such a strong bull run, so does the pressure on traders holding positions.  No one wants to sell to soon yet we all know a roll-over cold begin at any time.  My only advice, don’t allow greed get in the way of taking profits.  Consider scaling out to reduce the pressure and prevent emotional decision making.

On the Calendar

Only one important report on the Tuesday Economic Calendar.  At 8:30 AM the Empire State Mfg. Survey is expected to remain very strong at a consensus of 18.6 vs. Decembers 18.0 reading.   After that we have three bond auctions and believe it or not, no fed speakers.

On the Earnings Calendar, we have 23 companies stepping up to report quarterly results today.  Among them are UNH and CSX which both report before today’s bell.

Action Plan

Just when you think this market couldn’t get any more bullish, it does.  With 3-200 point days already this year, I believe this might be the strongest start to a year in my 28 years of trading.  Once again all four of the major averages closed at record high levels on Friday reacting to strong bank earnings.  Personally, I think the market seems excessively exuberant.  However, this morning futures are a perfect example of why it’s unwise to bet against such a strong trend.

As I write this, the Dow Futures are pointing to an opening gap of more than 200 points.  Who could have imagined that just 7-trading days after breaking through 25,000 the market could open above 26.000?  Remarkable bullishness indeed!  With such a massive gap up to new market highs chasing an entry would obviously be unwise.  Stay with the trend but also remain laser-focused on price action.  Logic would suggest profit taking could begin at any time but don’t try to predict when that might occur.

Trade Wisely,

Doug

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Bull Kicker RBB Strategy MHLD Bullish Over $7.60

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Bull Kicker Rounded Bottom Breakout Strategy

Bull Kicker Rounded Bottom Breakout StrategyMHLD printed a Bullish Kicker last Wednesday followed by two days of rest. The MHLD chart has been trending down and may now be ready for a relief rally to the 200-SMA then to test the $11.00 area. We have swing profit zones near the November high then above the 200-SMA. Our basic strategy will be the Rounded Bottom Breakout selling into strength.

Today At 9:10 AM ET. We will demonstrate live how MHLD could be traded using our Simple Proven Swing Trade Tools

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Candlesticks • Price Action T-Line • T-Line Bands • Support • Resistance • 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 • Continuation Patterns • Trade Planning

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► Learn the Power (NUGT)

On January 10, we shared, in detail, the technical chart properties of NUGT in our members Trading Room and why we thought this chart was ready for a test of the resent high with a breakout. Friday the profits would have been about 11.95% or $370.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits. (See Above)

► Eyes On The Market

The Bulls seems to be feeling pretty good about there selves today with the futures up. All I can say is don’t fight the trend, waiting for minor profit taking to find a PBO entry is a winning strategy.

The T-Lines have stayed bullish climbing higher with price only returning for more money to pour in.

Now and then the market feels the need to wake us up. Tuesdays Doji close in the SPY and Wednesdays gap did just that, even tho we can see the trend is bullish. If you mix the price action of the last three days you pretty much have normal action in a bullish chart. A good rule of thumb is that if the price can close over the T-Line High and if the T-Line High is higher than it was 10-20 days ago the bulls are winning the game. Read the chart and what you know to determine how and what you should trade.

The VXX short-term futures just can/t seem to close above the Lower T-Line and show follow through, but when it does the bear will get bigger.

Rick’s Swing Trade ideas – 

Symbols from TC2000
WYNN
IMMU
DO
ABX
HFC
DNR
MHLD
BURL
XON
ATRS
CONN

Candlesticks • Price Action T-Line • T-Line Bands • Support • Resistance • 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 • Continuation Patterns

 

Investing and Trading involves 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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Bull Kicker Rounded Bottom Breakout Strategy MHLD Bullish above $7.60

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Bull Kicker Rounded Bottom Breakout Strategy

Bull Kicker Rounded Bottom Breakout StrategyMHLD printed a Bullish Kicker last Wednesday followed by two days of rest. The MHLD chart has been trending down and may now be ready for a relief rally to the 200-SMA then to test the $11.00 area. We have swing profit zones near the November high then above the 200-SMA. Our basic strategy will be the Rounded Bottom Breakout selling into strength.

Today At 9:10 AM ET. We will demonstrate live how MHLD could be traded using our Simple Proven Swing Trade Tools

►Simple Proven Swing Trade Tools

Candlesticks • Price Action T-Line • T-Line Bands • Support • Resistance • 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 • Continuation Patterns • Trade Planning

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► Learn the Power (NUGT)

On January 10, we shared, in detail, the technical chart properties of NUGT in our members Trading Room and why we thought this chart was ready for a test of the resent high with a breakout. Friday the profits would have been about 11.95% or $370.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits. (See Above)

► Eyes On The Market

The Bulls seems to be feeling pretty good about there selves today with the futures up. All I can say is don’t fight the trend, waiting for minor profit taking to find a PBO entry is a winning strategy.

The T-Lines have stayed bullish climbing higher with price only returning for more money to pour in.

Now and then the market feels the need to wake us up. Tuesdays Doji close in the SPY and Wednesdays gap did just that, even tho we can see the trend is bullish. If you mix the price action of the last three days you pretty much have normal action in a bullish chart. A good rule of thumb is that if the price can close over the T-Line High and if the T-Line High is higher than it was 10-20 days ago the bulls are winning the game. Read the chart and what you know to determine how and what you should trade.

The VXX short-term futures just can/t seem to close above the Lower T-Line and show follow through, but when it does the bear will get bigger.

Rick’s Swing Trade ideas – MEMBERS remember to log into the members’ blog for the trade ideas – Member Login

30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual

Candlesticks • Price Action T-Line • T-Line Bands • Support • Resistance • 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 • Continuation Patterns

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Investing and Trading involves 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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