MNKD – RBB J-Hook Breakout

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MNKD – RBB J-Hook Breakout

MNKD – RBB J-Hook BreakoutMNKD has presented us with a double bottom followed by a rally into resistance. Consolidated then broke out and closed over the 200-FWL moving average. I would also like to note the tweezer bottom added a nice punch to the double bottom and the 3-day chart has drawn a Doji continuation pattern.

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

We sold ½ of out JNUG trade yesterday for a 13.

07% gain, and it looks like we are going to make more $$$. AMZN short is still working but nearing a level that may see a bounce, but will it be enough? X is trending the T-Line (nice) price is approaching the 200-FWL line, so consolidation is likely.

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Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► ALRM – You would be up 9% or $369.00

If you bought 100 shares when we posted to our members on August 14. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, an

d Resistance.

 

► Eyes On The Market (SPY)

Yesterday, Monday, August 28, the Bulls found themselves once again in second place. Yesterday’s candle closed below the open and below our trend line and $245.90. With the weak futures, this morning it looks as if we are deep into the Bearish channel. If the Bulls can’t find a reason to become Bullish $239.50 could be tested. Interesting that $239.50 is the 23.6 retracement from the 2016 November low to the 2017 August high.

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here.

 

Investing and Trading involve significant financial risk and are 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.

 

 

Who let the Bears out?

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Who let the Bears out?

Who let the bears outThe market has obviously been showing weakness, and I have been expressing the use of Caution for some time now.  So who let the Bears out today?  That blame falls right on that puffy little dictator in North Korea by firing a ballistic missile over the top Japan.  As luck would have it our shoot from the hip president has been quiet about the subject with no antagonistic Twitter posts.  Perhaps he has learned the error of his ways, but it could also have gone quiet as the US plans its military response.  Either way, the market hates uncertainty, and this action creates more questions than answers.  Be very careful my friends.  Expect a major injection in volatility which can create big swings both up and down making a dangerous environment for most traders.

On the Calendar

The Economic Calendar gets going at 9:00 AM Eastern with the S&P Corelogic – Case -Shiller HPI.  I think the first thing they need to do is find a new name for this report!  LOL.  The Consensus for June is to remain strong with an 3% increase, with the year on year number coming in at 5.8.  At 10:00 AM we get the Consumer Confidence report which has been beating consensus in recent months.  The July number was very strong at 121.1, but forecasters are calling for a pullback to 120.6 in August.  The calendar rounds out with a couple more nonconsequential reports and bond auctions.

Today on the Earnings Calendar we have about 50 companies reporting.  Make sure you continue checking the companies you hold or are considering for purchase.  It’s very easy to forget about earnings this late into the season and get caught in with a nasty surprise.  Make checking for earnings a habit of your daily planning as well as you individual trade planning.

Action Plan

Yesterday the morning futures pump by the big boys created yet another pop and drop in the price action right at resistance levels.  I hope everyone is beginning to see clues to this type of price action and learning to wait for confirmation rather than chasing the morning pump.  Add in the drama that the financial news creates and a trader can easily make poor emotionally based decisions.  Take it from a former yo-yo trader that would allow time like this to chop my account to pieces and destroy my confidence.

Today the futures are pointing to a triple digit gap down in the Dow as the market reacts to the actions of the North Korean dictator.  Firing a ballistic missile over Japan would seem to prove just how unstable he has become.  The market hates uncertainty so we can expect volatility to ramp up making it difficult to trade.  Unfortunately, the major index charts are in a position that a sharp sell off only serves to increase the technical damage.  It will also reinforce the emerging downtrends with yet another failure at a lower high.  The danger of a substantial seems to be growing so plan according and protect your capital.

[button_2 color=”green” align=”center” href=”https://youtu.be/hf-V0oqbFRk”]Morning Market Prep Video[/button_2]

Trade Wisley,

Doug

HRB – Bearish “h” Pattern

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HRB – Bearish “h” Pattern

HRB – Bearish “h” PatternThe Bearish “h” pattern on HRB is causing us to consider this a short trade below $29.65. A few things to consider on the chart: The double top and the Evening Star, the Blue Ice failure and the Bearish “h” Pattern

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

Not much change in our trading account, we still have a few longs and a few shorts. Overall we have cut back in our positions to reduce risk; we currently are more into managing what we are in rather than owning anymore. We like it best when the Bull or the Bear is an owner of the market, right now they are wondering them selves.

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► TTWO – You would be up 21.88% or $1699.00

If you bought 100 shares when we posted to our members on June 5. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY)

That 34-EMA and 50-SMA is giving the Bulls a bit of trouble, they can seem to step over them. The short-term trend (using the 8-EMA) is below the 34-EMA suggesting the short term Bears are strong and healthy. Bullish over $245.90 and Bearish under $243.65

With yesterday’s inside day Doji close it would seem the buyers and sellers are still at undecided on a Bullish Breakout or to continue the trend down. With the T-Line below the 34-ema, I must give the game to the sellers, and the buyers are fighting like crazy. Price the most important player on the field is still below the major trend line and below the T-Line and the Bulls have not broken the Lower High Lower Low cycle. We are keeping our inverse ETF list handy.

 

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here.

 

Investing and Trading involve significant financial risk and are 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.

 

Morning Video Only Today

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Sorry everyone but there will not be a morning blog post today.

[button_2 color=”green” align=”center” href=”https://youtu.be/lgd4HQicPk0″]Morning Market Prep Video [/button_2]

 

Will Yellen inspire the Bulls or the Bears?

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Will Yellen inspire the Bulls or the Bears?

Bulls or the BearsThe speeches out of the Jackson Hole gathering are always important, but it seems that this year all eyes are focused on the event.  Expect a lot of volatility around the Yellen and Draugi speeches.  The big question is which team will be inspired, the Bulls or the Bears?  As they talk, expect quick price fluctuations in both directions as the market reacts to every syllable they deliver.  A direction may be determined today, but the problem is we have no idea which way that will be.  Currently, the index charts and the transports are not showing much confidence, but that could change quickly or become much worse as they speak.  Be very cautious.

On the Calendar

The Economic Calendar on this last day of the week has a couple of heavy hitters this morning.  First up to the plate is the Durable Good Orders at 8:30 AM Eastern.  This number has had some volatility with a big 6.5% rise in June followed by a 5.8% decline in July.  Underneath all the bumpiness Durable Goods orders have been strong and are expected to stay so for today’s reading.  At 10:00 AM we get a speech from the Fed Chair from the Jackson Hole Symposium.  Some are suggesting she will deliver a historic speech clearing the way for more rate increases.  Others speculate the big speech will come from Mario Draugi around 3:00 PM.  Suffice it to say the world is watching and waiting to react to every utterance they deliver.

The Economic Calendar only has about 20 reports expected today.  I quickly looked through them and didn’t see any that I would deem as market moving reports.  However, it is still very important for everyone to stay on your toes checking for reporting dates of those you own or are thinking of adding to your portfolio.

Action Plan

Yesterday I warned of the possible pop and in the morning and unfortunately, this is exactly how it played out.  Please understand that was not a prediction but merely an observation of the price action that gave me the clues.  After the initial volatility, the market became very choppily and flat.  If I were to venture a guess why; it would be because everyone is waiting for the Yellen Speech at 10:00 AM eastern today.

With so my eyes on these speeches and so much speculation as to what they may or may not say we should expect some considerable volatility as they begin to speak.  Don’t be surprised to big reactions whipsaw price action as the market reacts to every utterance.  The good news is the stalemate between the Bulls and Bears could end today.  The bad news is we have no idea which team will come out the winner.  Be very cautious!

As normal I will be much more focused on taking profits ahead of the weekend than looking for new trades.  However, if by chance a direction is made clear, I will be prepared to act.  Over all the index charts currently do not look very healthy so once again I will say be very cautious.

[button_2 color=”green” align=”center” href=”https://youtu.be/6NupT3KNM3M”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Janet Yellen Speaks today – Market Up or Down?

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Janet Yellen Speaks today – Market Up or Down?

Janet Yellen Speaks today – Market Up or Down?(It’s Friday) Janet Yellen speaks today – will the market be up or down?  I don’t know about you, but I have no darn clue, so let’s wait and see. It might be a good time to take a look at your trading plan, at least until Miss Janet starts to talk. A personal trade plan is essential to trading wealth and Fridays are a good day to evaluate your trade plan. Do you have a 12-month goal? Do you know how much per trade, per week so you need to meet the 12-month goal? Do you know what trade set ups are best for you? We have found from our coaching that those that live by a trade plan profit more money and have a much higher success rate of increasing their wealth.

Friday is the day we count our money and reflect on our weeks trading. How did we do? How can we improve? Take time today to pause on trading and consider education. Reevaluate your trading goals, are your goals on track?

Good Trading – Hit and Run Candlesticks

 

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

Trade  Updates – Hit and Run Candlesticks

Not much changed from yesterday – we still have a couple longs and a couple shorts. We really aren’t interested into much until the market is more in our favor.

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

►Eyes on The Market

I follow the T-Line and the 34-ema regularly, and the combination is flashing warning signs. The SPY, IWM, and the transports all show the T-Line to be below the 34-EMA and any weakness in the QQQ’s today might push the T-Line over. Of course, Janet Yellen is to speak today, and that could change everything. My plan today will be to sit tight and wait.

►What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here

 

Investing and Trading involve significant financial risk and are 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.

 

FB – Bullish Over $171.30 With The Bull Flag

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FB – Bullish Over $171.30 With The Bull Flag

FB – Bullish Over $171.30 With The Bull FlagFB – Bullish over $171.30 with the Bull Flag. FB has seen a nice bullish run with a pullback that is currently holding the $164.30 support line. A breakout of the upper flag line would set FB up to test the recent high and then possibly $180-$190 area. A little bullish help from the market would help – Remember not to force a trade. You don’t work for the trade – the trades work for you.

Good Trading – Hit and Run Candlesticks

Learn more about Hit and Run Candlesticks, and today’s trade idea and plan plus the 10 or more members trade ideas, starting at 9:10 EST AM every morning. Every day we teach and trade using the T-Line, Candlesticks, Support and Resistance, Trends, chart patterns and continuation patterns.

►Trade Updates – Hit and Run Candlesticks

Added another long to the trade portfolio so now we are long 4 positions and short 2

Are you having trouble putting together a winning trade? Not sure what scans to use? So near to having multiple winning trades, but something always goes wrong. Maybe a couple hours with a trading coach could make all the difference in the world. Hit and Run Candlesticks has 4 trading coaches – Learn More about the Coaches

With on-demand recorded webinars, eBooks, and videos, member and non-member eLearning, plus the Live Trading Rooms, there is no end your trading education here at the Hit and Run Candlesticks, Right Way Options, Strategic Swing Trade Service and Trader Vision.

 

► RACE – You would be up 37.28%% or $3140.00

If you bought 100 shares when we posted to our members on May 19. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Chart Patterns, Support, and Resistance.

 

► Eyes On The Market (SPY)

With yesterday’s inside day Doji close it would seem the buyers and sellers are still at undecided on a Bullish Breakout or to continue the trend down. With the T-Line below the 34-ema, I must give the game to the sellers, and the buyers are fighting like crazy. Price the most important player on the field is still below the major trend line and below the T-Line and the Bulls have not broken the Lower High Lower Low cycle. We are keeping our inverse ETF list handy.

 

► What is a Trade Idea Watch-list?

A trade idea watchlist is a list of stocks that we feel will move in our desired direction over a swing trader’s time frame.  That time could be one to 15 days for example. From that watch list, we wait until price action meets our conditions for a trade.

Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education with wealth and the rewards of a Swing Traders Life – Click Here.

 

Investing and Trading involve significant financial risk and are 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.