Surprise Someone Today; Go through a fast food drive-through line and pay for the person behind you, they will be so surprised. Kindness and putting a smile on someone’s face is good for the heart and soul.
Count your money and make notes about your week of trading. Do a little planning for next week. Clean up your watchlist. Do you have a trading plan for a strategy or chart set up? Or a trading plan for 2018? If you would like to share it will HRC and RWO we would be happy to post it for you. Just simply send it to Rick@RicSaddler.com
Did you know if you wanted to share a chart or a trade in the trading room you can, Just let us know when you would like to do that and we can set it up? (you will need a mic. a cheap one works fine)
Steve Risner (1973Hog) Presents Sunday nights 8-PM EST. Steve talks about charts, upcoming news and events and answers your questions.
TradeHawk Talk with “Lex” Tuesday 4:15 EST. Lex will be going over the ins and outs of the TradHawk trading platform.
Rick Saddler Hit and Run Candlesticks Founder Presents “Members e-Learning” Tuesday 8-PM EST
Today At 9:10 AM EST. Rick will answer any questions you have about trades you present.
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
On December 5, we shared, in detail, the technical chart properties of WTI in our members Trading Room and why we thought this chart was ready for a 20% Plus run. Yesterday the profits would have been about 43% or $715 with 500 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits.
Yesterday was a great day to be trading with Hit and Run Candlesticks and Right Way Options. We were all making money and taking profits.! The SPY recovered from its one-day pullback with a bullish gap and follow-through. Support has moved up to $274.45. The T-Lines remain in a bullish trend; bullish profit zones are $276.75 – $277.70 – $279.30
The VXX short-term futures closed lower yesterday, surprising not as low as I thought they would have with the market being so bullish. Price remains trending down with the T-Line.
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
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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Yesterday I mentioned that I would not be surprised to see the rest and even slip into consolidation. The Bulls obviously had other plans, setting new record highs in all the major indexes. It seemed as if the entire world suddenly became worried that they were missing out and started buying with both hands. Let the good times roll!
Yesterday’s rally was not only strong it was very widespread with strength even in microcap stocks. As we head into the weekend, let’s not forget to take some profits and be thankful for the relative ease at which they occurred.
The Friday Economic Calendar begins with two very important reports. At 8:30 AM eastern is the Consumer Price Index which forecaster see rising 0.1%, less food and energy the and the number grows to 0.2%. Year-on-year, the consensus gain is expected at 2.1% with the core at 1.7%. Also at 8:30 is the very important Retail Sales that includes holiday spending. December Retail sales expect an increase of a strong 0.5% with ex-auto sales at 0.4%. 10:00 AM brings the Business Inventories which forecasters see a 0.3% build for November inventories. We have two Fed speakers today, one at 12:30 PM and another at 4:15 PM to close the calendar week.
On the Earnings Calendar, we have 18 companies reporting with the big banks in focus today. Blackrock already reported very strong results and had increased their assets under management to a whopping six-trillion! We will also hear from PNC, JPM, and WFC today.
The bulls were out in force yesterday closing all four of the major averages at new record highs. Also, surprising was the strength across almost all sectors. And it would appear that the bulls want even more with the Dow Futures currently pointing to a gap up of nearly 100 points. Go, Bulls go!
As normal I will be much more focused on taking profits as we head into the weekend than adding additional risk. We should also keep our emotions in check because all the rampant enthusiasm in the market it would be easy to chase an over-trade. If you do add new trades today make sure you are entering low-risk positions that are at or near price support levels. Don’t become complacent and stay focused on price action clues. It may seem as is the market will never again selloff right now, but we all know the day is coming so stay focused.
Trade Wisely,
Doug
[button_2 color=”green” align=”center” href=”https://youtu.be/Nq8w_2IMGHM”]Morning Market Prep Video[/button_2]
After bearish gap down yesterday the bulls proved their horns continue to very sharp recovering almost all of the losses. The ViX indicated a little fear was creeping in at the open, but the resiliency of the bulls quickly began to put those fears to rest. Market trends continue to be strong yet appear extended. It’s very important not to over-trade or chase during periods like this. Choose new trades wisely with low-risk entries and consider releasing the pressure on winning trades by taking at least partial profits. With earnings season about to kick off plan for move volatility and overnight gaps as the market responds. Focus on price action, stay disciplined to your rules and prepare for anything like the market continues to push the upper boundaries of this strong bull run.
Thursday’s Economic Calendar kicks off at 8:30 AM with two potential market-moving reports. First is the weekly jobless claims that are expected to decline 5000 to 245k vs. 250k. Second is the PPI-FD which forecasters think will rise 0.2% vs. the 0.4% increases each month last quarter. There are a couple of lessor reports and a bunch of bond announcements during the day but nothing likely to move the market until the 2:00 PM Treasury Budget. The Treasury deficit is expected to come in at $36.0 billion for December. Then at 3:30 we have a Fed speaker as their speaking tour continues.
On the Economic Calendar, we have 18-companies expected to report. If very important to get into the habit of checking the reporting dates of stock you own an those that you are planning to purchase. Failure to do so can be a very costly mistake that traders can easily avoid with a little preparation.
Yesterdays gap down was a wakeup call that the bears are still here and hungry. However, the Bulls really went to work yesterday to recover most of the initial losses. This morning the futures a suggesting a slightly higher but mostly flat open today. Although there are some earnings today, the market could wait for the big bank earnings on Friday to look for inspiration. Also on Friday, we get the very important CPI report and Retail Sales numbers which are both market-moving reports. As a result, we could see light and choppy price action today as we wait.
The trends are still in place so I will continue to trade with the trend, but I will also take into account that the market appears extended when considering new risk.
Trade Wisely,
Doug
[button_2 color=”green” align=”center” href=”https://youtu.be/g1DZwbJ4HzY”]Morning Market Prep Video[/button_2]
STLD printed a Bullish Belt-Hold after about three weeks of Running the T-lines. Yesterday’s price gapped down from the bear pressure and the bulls and pushed the price into and closed above the previous candle. Creating a Belt-Hold that ended the day with a Bullish Engulf. Note how the chart has been trending with pull back opportunities (PBO) after testing the T-Line and Lower T-Line.
Today At 9:10 AM ET. We will demonstrate live how STLD was chosen using our 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
On December 11, we shared, in detail, the technical chart properties of GLYC in our members Trading Room and why we thought this chart was ready for a 20% Plus run. Yesterday the profits would have been about 33.80% or $500.00 with 100 shares. Using our Simple, Proven Swing Trade Tools and techniques to achieve swing trade profits.
Every 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 clearly see the trend is bullish. If you mix together 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 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 ran up to the T-Line High and failed, this indicates yesterday there was just not enough fear to make a difference, but enough to cause a little drama.
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
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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Okay, who poked the Bear? Most reasonable thinking traders have expected a market pullback while secretly hoping the bears would not come back to work at least for a while longer. After all who wants the party to end? It seems unfair when the market makes an overnight reversal that traps the retail trader, but that is the nature of this business. As an inexperienced trader, I would always try to assign blame to someone or something when I lost money on mornings like this one. When the truth of the matter was the blame, was mine and mine alone. When the market was super bullish, I would chase, trades like a madman never once evaluating the condition of the overall market. Remember trading is a business and the buck always stops with you!
The hump day Economic Calendar gets going at 8:30 AM with the Import and Export Prices. Consensus for December has imports up 0.4% and export prices at 0.3%. Talking about interest rates seems to be in vogue this week with four Fed speakers today. Evans at 9:00 AM, Kaplin at 9:10 and then again at 10:15 with Bullard at 1:30 PM to finish up today’s tour. At 10:30 AM is the EIA Petroleum Status Report which could be very important today with the recent rally in oil.
There are 14 companies expected to report today on the Earnings Calendar. Front and center will be the builders with LEN reporting before the bell and KBH after the bell. Remember the official kick off earnings session is Friday when several of the big banks report.
Yesterday saw yet another round of new record high closes in the DIA, SPY, and QQQ. The IWM managed to break out, printing a new record high but then slipped back into consolidation. I doubt anyone is all that surprised that the futures are finally pointing to a lower open this morning. However, it’s always disappointing when it happens overnight traping retail traders. Now the question is will it trigger some panic selling or will those tenacious bulls dig in to wait for earnings.
With the rally have been so strongly up you have to look at intra-day charts find price supports. Keep in mind that potential reversals can create a lot of fast price action. Violent whipsaws are possible if the emotions of fear or panic begin to well up. Times like this can be very challenging for new or inexperienced traders so plan accordingly.
Trade Wisely,
Doug
[button_2 color=”green” align=”center” href=”https://youtu.be/JzaXz60TmB0″]Morning Market Prep Video[/button_2]
IMMU has had a beautiful bullish run from early December breaking out of the October high. The sellers printed a Shooting Star, and price action followed for six straight days. Yesterday after meeting up with the T-Line Low price fought back by closing up 8.23% and creating a bullish J-Hook continuation pattern. Over $16.45 could trigger more buyers. We have added IMMU to our watchlist for consideration.
At 9:10 AM ET. We will demonstrate how IMMU was chosen using our Simple Proven Swing Trade Strategies
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
On December 26, we shared, in detail, the technical chart properties of WTW in our members Trading Room and why we thought this chart was ready for a run. Yesterday the profits would have been about 13.50% or $685.00 with 100 shares. Using our simple, proven Swing Trade tools and techniques to achieve swing trade profits.
Six days up is more than this horse can take. The SPY has moved higher the past six days a little faster than it can handle and is now in need of a rest. As I mentioned in last nights e-Learning webinar, the market is primed for a profit taking and the morning futures are pointing this out. The main trend is still up, and as of yet, support has not been broken. I suspect we see the sellers challenge the $271.70 area and then we can get a better idea of what price action is up to.
The VXX short-term futures printed a Bullish Egulf yesterday, and today it will likely test the T-Line Band High. A close over the T-Line Band High would indicate that fear is heating up and that would be a first step in creating a bullish bottom in the VXX chart.
30-Day Trial • Monthly • Quarterly • Semi-Annual • Annual
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
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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