SPPI – Printed A Bullish Engulf

August 14, 2017 by Rick Saddler

SPPI – Printed A Bullish Engulf

SPPI – Printed a Bullish Engulf after a breakout gap and a few days of consolidation. A Bullish Cup and Handle has formed with the major moving averages trending in the right direction. The recent lows are above the T-Line, and the 3-day Doji Continuation pattern is Bullish. Plan your trade and trade your plan.

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

Today our plan will manage the positions we have and work on the watch-list. We may or may not buy or short; it will depend on how price acts at resistance. Remember you don’t have to buy a stock every day, proper management of your positions owned is the most important job.

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.

► WTW is up 36.11% from our members post on July 10 and crawled another .82% Friday.

Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market (SPY)

It looks like the Bulls are mounting a bounce today after last week’s panic selloff. The bounce could be real and have follow-through over the next few days or could simply be a relief rally. The futures are suggesting the bounce is up to resistance, so one must wonder can the Bulls push through resistance? And I suspect a constructive bottom needs to be printed.

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.

Will Korean tensions keep the Bulls away?

August 11, 2017 by Doug Campbell

Will Korean tensions keep the Bulls away?

With such strong sell off it would not be unreasonable to think a bounce is in the cards for today. I would agree however the Korean tensions could make it difficult for the Bulls to buy this dip. I can tell you that see no good reason to add risk going into this weekend and I suspect many will have the same inclination. That’s not saying we can’t or won’t experience a relief rally. I’m only suggesting the possibility exists that it may be a lackluster bounce or that it may not occur all. Trying to predict a bottom is just a futile and dangerous as it is trying to predict the top. Wait for proof in price and then react unemotionally with a well thought out plan.

On the Calendar

The Consumer Price Index tops the Economic Calendar today coming out before the market opens at 8:30 AM eastern time. The consensus is only expecting a gain of only 0.2% with the yearly rate slipping to 1.8 from 1.9 on the last reading. Declines in cell phone services and fundamental prices including housing are the culprits pointed to as the reason growth in this number remains weak. At 9:40 AM and 11:30 AM we have Fed Speakers rounding out the day.

The Earnings Calendar will not begin to lighten up dramatic with just under 70 companies expected to report their results today. At the close yesterday, NVDA topped estimates, but the stock sold off sharply and is indicating a 7% gap down this morning. That will not be helpful to an already weakened QQQs as we head into the weekend.

Action Plan

The follow-through sell-off yesterday created some significant psychological damage in the indexes. The SPY, QQQ’s and IWM have also suffered significant technical damage cutting through the 50-day moving average. Even more damaging is that the SPY broke the uptrend that began in early 2016. The IWM being the weakest of the indexes fell all the way to the 200-day moving average and is currently indicating it will gap below it at the open today.

Adding insult to injury, the futures are again suggesting a small gap down at the open. Normally after a sharp selloff such as this, it is reasonable to expect a bounce in price. However, as we head into the weekend the tensions growing in North Korea, traders may prefer to avoid the risk. I for one will not be looking for new positions today as I view the weekend risk simply too high for my taste. Having already trimmed my portfolio ahead of this sell off I will sleep well this weekend. The market will be open Monday, and there will be plenty of opportunities made available. Of course, I will be closely monitoring the positions I continue to hold and plan to carry through the weekend.

[button_2 color=”green” align=”center” href=”https://youtu.be/cJQK2aEKN6w”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Personal Trade Plan

August 11, 2017 by Rick Saddler

Personal Trade Plan

(It’s Friday) A personal trade plan is essential to trading wealth and Fridays are a good day to evaluate trade plan. Do you have a 12-month goal? Do you know how much per trade 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 Candlestick Team

Trade Updates – Hit and Run Candlesticks

This week we entered a couple shorts; AMZN, CC and went long on a couple Inverse ETF’s; TVIX SQQQ We are happy to say we are good and green on them all. We did sell our SQQQ yesterday with the help of our target and the 50-day SMA.

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

For about 11 days now we have warned the members of Hit and Run Candlesticks and Right Way Options that the QQQ’s and IWM were looking ugly and could cause some trouble. The SPY closed below the 50-SMA yesterday, and I believe $240.80 will be tagged before a new high is made, then there’s the possibility of the $238.00 area.

What is a Trade Idea Watch-list?

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

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.

OA – Run Pullback Bullish Engulf

August 10, 2017 by Rick Saddler

OA – Run Pullback Bullish Engulf

OA put together a run, pullback and a Bullish Engulf yesterday in a trending chart that has recently broken out of resistance. The 3-day chart is showing a Pop Out of The Box pattern followed by a Doji continuation pattern. Remember you don’t have to be in a hurry to make a trade, you don’t have to catch the bottom to make money. You do want to buy close to support, and you want a chart that can make you money.

Good Trading – Hit and Run Candlesticks

Trade Updates – Hit and Run Candlesticks

Yesterday morning we took ½ the profits in TVIX and sat on our hands the rest of the day. Don’t let anyone fool you or trick you into trading; it’s ok to take a day off.

► INAP is up 38.89%

From our members post on May 16 and popped another 5.56% yesterday. Hit and Run Candlesticks members practice trade management and trade planning with Price and Candlesticks, The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market (SPY)

The sellers have taken a short-term interest in the SPY as well as the DIA, QQQ, and IWM. The shooting star on the SPY is still suggesting the sellers want to bring the SPY down a bit more, my guess at this point would be the 34-ema and the 50-SMA. IWM has already broken down through the 50-SMA causing the small caps pain.

What is a Trade Idea Watch-list?

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

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.

Rising uncertainty rattles the market.

August 10, 2017 by Doug Campbell

Rising uncertainty rattles the market.

The strong earnings rally met with some profit taking and risk reduction yesterday. The overall trend is still up, but the rising uncertainty with North Korea as we head toward the weekend has many traders reducing risk. Currently, futures are pointing to a gap down this morning that may threaten price supports at the open. Should they break, we could see a quick move lower as stop loss orders will likely start to trigger in rapid succession. The Bulls have been very strong, but this morning will be one of the first tests of their resolve at price supports. A successful defense by the Bulls could setup some very nice entries assuming you want to add risk ahead of the weekend. Plan carefully.

On the Calendar

As normal the Thursday Economic Calendar starts the market day with the weekly Jobless Claims report at 8:30 AM Eastern. Good claims numbers have continued all year, and forecasters see claims rising just slightly to 241K up from 240K last week. Also at 8:30 AM is the much more important PPI-FD report. The inflation tracking report has been very flat only managing a 0.1% gain overall on the last reading. Forecasters are suggesting only a slightly higher reading this month of 0.2% core minus food and energy. We have a Fed Speaker at 10:00 AM with the Treasury Budget report at 2:00 PM rounding out the day.

The Earnings Calendar is showing more than 225 companies in one of the last big reporting days this quarter. One of the big reports today will be from NVDA after the market closes. It will be very interesting to see how the market responds as this earnings season winds down and North Korean uncertainty ramps up.

Action Plan

Thus far the selloff has been very controlled with fear only rising slightly. At the close of yesterday both the DIA and the SPY held above price supports with the SPY finding enough dip buyers to close near the high of the day. The QQQ’s also found buyers rallying back up after a somewhat spooky gap down at the open. The poor beleaguered IWM gapped down and stayed below its gap all day long even though it did manage a small bounce off the intraday lows. Futures are currently pointing to a substantial gap down as the saber rattling intensified overnight.

Looking through my watch-lists near the end of the day, I found a nice group of very good looking charts. The temptation to buy the dip was very strong, but I stuck to my rules and decided to wait for follow-through price action. Looking at the futures this morning, I can once again thank my trade plan for saving me capital. I will look for new trades today, but with the weekend coming and the looming crisis with North Korea, they will have to be stellar setups for me to take action on them.

[button_2 color=”green” align=”center” href=”https://youtu.be/31Toq0sz3QQ”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

Finding and Trading Pullbacks August 8, 2017

August 9, 2017 by Rick Saddler

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The Bears re-emerged onto the field of battle.

August 9, 2017 by Doug Campbell

The Bears re-emerged onto the field of battle.

Over the last 2-weeks, the Bulls have dominated the market battle to such an extent it was easy to forget the Bears were even there. Yesterday the Bears re-emerged demonstrating they still have teeth. I hope you were watching and prepared. As of now, this is nothing more than a healthy pullback and the overall uptrend is still in tact however it’s time to raise your caution levels, modify or even restrict your market activity depending on your experience level. Expect additional volatility in the days ahead.

On the Calendar

The hump day Economic Calendar begins with Productivity and Costs at 8:30 AM Eastern. Forecasters see nonfarm productivity rising 0.8% and unit labor costs dipping to 1.3% vs. the first quarter’s point of 2.2%. At 10:00 AM we get the most important number of the day, the EIA Petroleum Status Report. Oil companies continue having trouble finding their footing even though supplies are declining. If we were to get a surprise build in supplies, we could see the market to react negatively. At 1:00 PM we will hear from a Fed Speaker.

We have just short of 350 companies on the Earnings Calendar reporting today. The bell weather DIS reported after the close yesterday beating consensus but disappointing investors after the announcement of pulling their content from NFLX. The company has decided to begin their own streaming service. The stock dropped more than 3% on the news. Their ESPN unit continues to decline muting the companies overall all performance.

Action Plan

After a sharp rally early in the day yesterday day the DIA reached an exhaustion point profit takers gained the upper hand. As the DIA began to tumble, all the indexes started giving back gains as I had feared. The DIA, SPY and QQQ’s left behind shooting star candle patterns. This pattern is considered bearish and carries much more weight when found at price highs. However, like most candle patterns the shooting star requires a price to follow-through to the downside to be truly valid. Currently, the futures are pointing a gap open giving us that follow-through initially but the Bulls may have something to say about that before the day is over.

Saber rattling with North Korea continues to intensify. The market hates uncertainty, and the situation with North Korea certainly raises that bar. Another battle in Congress over the debt ceiling is another matter that easily could add to uncertainty levels depending on the games they play this time around. After such a strong rally these uncertain items could make it challenging for the Bulls to maintain the rally. At a minimum, I would expect a bit more volatility in the days ahead. Fast intraday moves could be possible as we try to sort out the details. Yesterday I reduced my risk and added in some index puts to hedge the possible risk. Please keep in mind that the sky is not falling. A pullback is natural, needed to confirm support levels, and what a healthy market does! At this point, there is no need to panic.

[button_2 color=”green” align=”center” href=”https://youtu.be/Vl2gBoeSykI”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug