Earnings fueled rally nearing 3-weeks up. Earnings fueled rally nearing 3-weeks up.

July 27, 2017 by Doug Campbell

Earnings fueled rally nearing 3-weeks up.

The current rally has been amazing with new records for the books almost every day on this earnings fueled rally. Hey, who doesn’t love market rally? Right! Profits are easier to make, and the world of the trader just seems to be filled with sunshine and rainbows. It’s often times like this when traders get complacent. Breaking the rules, rushing trades and/or over trading. If we fail to plan carefully, we invite emotion into our trading which normally ends badly. Maintain your discipline, be prepared and protect your capital from emotional decisions with a well thought out plan.

On the Calendar

The Economic Calendar begins with Durable Goods this morning at 8:30 AM Eastern time. Durable goods is a market moving number that has been a little soft with declines in both April and May. Consensus for this month is to see a big bounce back with an expected increase of 3.5% mostly on the back of the aircraft industry. Also at 8:30 AM is the International Trade in Goods number as well as the Weekly Jobless Claims. Trade goods are expected to come in with a 65.0 billion deficit which is an improvement from last month. Labor has been very strong, but there is an expectation of an increase to 240K from the 233K last reading. There are a few nonmarket moving reports, auctions and announcements.

Today is a huge day on the Earnings Calendar with nearly 450 companies expected to report results today. Believe me; it’s in your best interest to check reporting dates before entering new positions. It is equally important to check on reporting dates within your portfolio.

Action Plan

Yesterday the market pretty choppy which is normal on an FOMC announcement day but all in all the indexes held up pretty well. Earnings have already begun to roll in this morning with the majority being positive. Futures are currently reflecting that bullishness pointing to a slightly higher open, but it could shift quickly on the data laden day. As of right now the QQQ’s are showing yet another gap up open and another record level for the history books. The DIA and the SPY are not far behind.

As always my top priority is to manage current positions first and as we begin to wind down this trading week taking profits is also high on my list. I will, however, look for new trades today but much recognize the fact that the rally is nearing the 3-week mark. I’m not predicting a turn but if one did occur it should not be a big surprise so plan your trading accordingly and always have an exit plan.

[button_2 color=”green” align=”center” href=”https://youtu.be/r1j05s6nb48″]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

CONN T-Line Run Pop Out Of The Box Pattern

July 27, 2017 by Rick Saddler

CONN T-Line Run Pop Out Of The Box Pattern

(Conn’s Inc) $CONN is a T-Line Run Pop Out of the Box that created a Bullish Kicker back in April then rallied made a few bullish swings then started to consolidate. On July 17 the Bulls made their move breaking out of a Bullish W pattern, after 3 days the box started to form. We have found the Pop Out of The Box a terrific pattern to trade.

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

A quiet day for us yesterday, we closed X for a 10.92% profit – And we bought a gold stock. You can see our 30-day stats below:

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders profits.

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.

CONN T-Line Run Pop Out Of The Box Pattern

[$59.92% CGI] first presented to HRC members on June 19,

59.02% run with the 16.87% pop yesterday. Another chart that has worked out very well for Hit and Run Candlestick Members. Hit and Run Candlesticks members have learned how important it is to use their trading tools, Price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market

The current course of the market is Bullish; investors see the earnings reports as positive and bullish, so the market rises. Yesterday’s trading was a bit soft, you could feel it in during the day, and the candlestick was soft (not going anywhere). Once again the buyers kept the price above the T-Line. We will continue to share trades with members when we see them come through our scanner.

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.

See Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education to 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.

TRLD Has Constructed A Bullish Inverted Head and Shoulder Pattern

July 26, 2017 by Rick Saddler

TRLD Has Constructed A Bullish Inverted Head and Shoulder Pattern

(Tailored Brands Inc) $TLRD has constructed a Bullish Inverted Head and Shoulder pattern with a Bullish breakout of a double top. TLRD is an (RBB) Rounded Bottom Breakout pattern. Both the T-Line and the 34-ema have turned up and has crossed over the 50-sma. On a 2-day chart, the Bullish Morning Star kicked off the recent rally.

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 closed 2 positions yesterday “IPI + 24.56% and HIIQ + 19.67%to bank profits, remember we can buy them back. Our purpose for Swing Trading is to make money. We have had too many positions in our portfolio. We are currently green on 11 positions and neutral to -3.18% on 7 positions. So far for July, we have close 14 positions for a 71.43%-win rate and ¾ of our account is invested.

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders profits.

$SGMS was first presented to HRC members on March 6,

68% run with the 11.27% pop. Another chart that has worked out very well for Hit and Run Candlestick Members. Hit and Run Candlesticks members have learned how important it is to follow price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market

The current course of the market is Bullish; the trend continues to rise with Pullback Opportunities along the way. I am sure you already know so just reminding you Miss Janet speaks today which may or may not influence the market, the charts will tell us.

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 watchlist, we wait until price action meets our conditions for a trade.

See Rick’s personal trade ideas for the day MEMBERS ONLY

Start your education to 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.

Plan for an extra dose of volatility.

July 26, 2017 by Doug Campbell

Plan for an extra dose of volatility.

With hundreds of earnings reports today and the FOMC announcement, we can likely expect volatility to kick up a notch. Extra volatility should not be feared, but every trader should have a plan in place to deal with it unemotionally. Please, Please, PLEASE make sure you are checking earnings dates on all stocks. As an example take a look at AKAM. AKAM had a beautiful entry signal at the end of the day. I would normally have bought the stock in a hot minute but checking earnings I discovered it was about to report. Thankfully I checked because the stock is gapping down almost 8% this morning! That few seconds likely saved me hundreds of dollars. Defentally worth the effort! With VIX so low there are many traders beginning to speculate the market is overbought. That could be true but trying to predict a top is a very difficult business that normally costs those that do a lot of capital. If you’re concerned about a market top, lock in profits and reduce trading activity. The market will tell us where it wants to go if we just wait and watch rather than predict.

On the Calendar

Hump day on the Economic Calendar begins with New Home Sales at 10:00 AM Eastern. Forecasters see home sales increased slightly to 611k consensus in June. Then at 10:30 AM we will get the EIA Petroleum Status Report. Oil supply levels have been trending lower in the EIA report, and continued reductions are very important to stabilize the commodity prices. Then at 2:00 PM is the all important FOMC Announcement on interest rates. The market is not expecting a rate increase today but keep in mind that all they have to do is change a word or two in their statement to move the market dramatically.

On the Earnings Calendar, there are 275 companies reporting results today. As of now, earnings have pushed the market sharply higher with no fear. Nevertheless, it is extremely important for every trader to find out when the companies they hold are reporting.

Action Plan

Overall we saw the indexes held up pretty well yesterday, but the price action was rather subdued as the market waits to hear from the FOMC. The bullish trend is still is still in place on a daily and the weekly charts. The best practice is to continue trading with the trend.

The trend is still up, so I will continue to look for long trades. However, I will be slow to enter new risk at this point in the rally. Although I have pickup some new trades, I have also been reducing overall risk taking profits on several positions already this week. My inclination is to continue to reduce risk as market extends this rally. Currently, futures are pointing to a small gap up open but keep in mind trading will today will not only be affected by hundreds or earnings reports but also the FOMC announcement.

[button_2 color=”green” align=”center” href=”https://youtu.be/uuhY6vGR6Tw”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug

FOMC and Earnings a Volatile Combo

July 25, 2017 by Doug Campbell

FOMC and Earnings a Volatile Combo

We have enjoyed the steady and strong rally, but the road ahead could be a bit bumpy ahead. As earnings reports ramp up and the VIX has fallen to historic lows. Toss in the FOMC, and we have an explosive combination that could trigger significant volatility. Price action is currently very bullish but doesn’t ever think the market is safe and simply can’t go down. Complacency is a very dangerous for traders. Anything can happen. Be prepared at all times. I am always especially focused on price action when futures point to a gap up to new market highs. It’s the perfect setup for a pump and dump by the big boys so don’t chase! Have the discipline to plan carefully and follow the plan. Your success depends on it!

On the Calendar

Today on the Economic Calendar there are three reports that are unlikely to move the market. They are the Housing Price Index, Richmond Fed MFG, and Investor Confidence. The two reports that could move the market is the S&P CoreLogic Case-Shiller HPI at 9:00 AM Eastern and the 10:00 AM Consumer Confidence. The Case-Shiller topped earlier this year and has since moderated. The number is expected to come in at 0.3% with the year-on-year number at 5.8. Consumer Confidence consensus for July is expected to come in at a very strong 117.0. Also, keep in mind that the FOMC meeting today with interest rate announcement at 2:00 PM tomorrow.

On the Earnings Calendar, we have 184 companies reporting today, so it would be prudent to stay on top of reporting dates for the companies you own and are thinking of owning. After the close yesterday, GOOGL seemed to have disappointed the market, and the stock is indicated down 25 points this morning. It will be interesting to see if that affects the QQQs and the very strong rally of late.

Action Plan

Yesterday’s trading started pretty slow and choppy but as the day progressed the Bulls seemed to gain the upper hand finishing the day strong. The DIA tested and so far held price support, SPY held up extremely well, QQQ closed at a new record high, and even the IWM rallied off of support. Consequently, price action continues to suggest bullishness. If earnings reports continue to impress the market, then we should expect more records high closes to come.

Today I will be looking for new positions, but I will also be watchful of whipsaw price action. Futures are suggesting a gap up open. Anytime I see the market gap up to new record highs I’m always watchful of the professional pump and dump creating that whipsaw price action which is very difficult manage. As a result, I will wait 20 to 30 minutes after the market opens focusing on price actions and making sure real buyers are supporting the gap. Please keep in mind the market would normally become soft as we wait for the FOMC. Toss in about 200 earnings report, and we have a potentially volatile combination. It would be wise to prepare for anything.

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

Trade Wisely,

Doug

FEYE – Has Formed a Bullish Ascending Triangle

July 25, 2017 by Rick Saddler

FEYE – Has Formed a Bullish Ascending Triangle

(FireEye Inc.) $FEYE has formed a Bullish Ascending Triangle, and on the 3-day chart, it can be traded using the Rounded Bottom Breakout Strategy. The T-Line continues to trend in spite of the choppy price the past 3 months. Looking back to July 7^th we can see a Bullish Morning Star, a Double Bottom and a minor breakout with consolidation. Volatility stops are we positioned on the daily and the 3-day charts. (Disclosure – Hit and Run Candlesticks bought FEYE yesterday)

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 closed NVAX yesterday with a small gain, in hind sight, we should have closed it sooner. We will wait for another buy alert. We entered 2 more trades yesterday, and we are still holding 4 Double -Digit gainers and 7 single digit gainers with a few still waiting.

What would you do with 2-3 or even 4 double-digit trades every week? Education on how to manage a trade from start to finish is key to a swing traders profits.

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.

$DVAX was first presented to HRC members on March 1,

And yesterday it ran another 10.94% for a total of 136.67%. Another chart that has worked out very well for Hit and Run Candlestick Members. Hit and Run Candlesticks members have learned how important it is to follow price with Candlesticks and manage their trades using The T-line, Trend, Trend Lines, Support, and Resistance.

Eyes On The Market

A few big names will be reporting today so as always be aware and trade with caution. Yesterday the market was controlled by the bulls for the most part. The T-Line trend is still intact with no sell signal posted yesterday.

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 watchlist, we wait until price action meets our conditions for a trade.

MEMBERS ONLY

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 earnings continue to support current valuations?

July 24, 2017 by Doug Campbell

Will earnings continue to support current valuations?

Third quarter earnings that began as a small creek will become a rushing river of reports for the next few weeks. Remember it’s not the actual report that matters its how traders and investors react to the report that matters. The market has been very bullish, and now it’s up to companies to prove that their earnings can support the current valuations. Make sure to check reporting dates on everything you hold or are thinking of buying and prepare with a well thought out plan.

On the Calendar

The last full trading week of July will begin with PMI Composite Flash and Existing Home Sales on the Economic Calendar. The PMI number is at 9:45 AM Eastern and is expected to slow for the 53.9 reading in June to around 53.2 in today’s reading. Although slightly slowing anything above a 50 reading demonstrates growth. The service sector continues to as the strongest growth sector. Existing Home Sales came out at 10:00 AM and expected to continue on it modest trajectory higher. However, the consensus number of 5.620 annualized units would show a soft spring in home sales.

There are 76 companies expected to report earnings today and will ramp up to nearly 500 on Thursday. It is vital for every trader to check reporting dates for companies held and those under consideration for purchase. Failure to do so could prove to be a very expensive lesson. Don’t rely on luck!

Action Plan

The Bulls held and defended a key support level in the DIA rallying off the level right into the close of the day. The SPY and QQQ’s remained strong and above supports although closing slightly lower. The IWM that finally broke out last week left behind a possible Evening Star Pattern but maintained just above the key breakout support. Futures were mostly down all evening and as I write this continue to point to a slightly lower open today.

After the impressive rally over the last 2-weeks, it would not be out of the question to see the market rest or even slightly pull back. However, it’s very important that the Bulls continue to defend support levels. Resistance breakouts are great but always remember that support is not support, until it’s tested and buyers step up to the plate and defend the price level. I will be looking for new trades today, but I will need to see some bullish energy in the overall market before doing so. RWO members Banked some nice gains last week. Now the trick is to hold on to those gains. As always be very choosy about the trade you take. Quality is far more important than quantity.

[button_2 color=”green” align=”center” href=”https://youtu.be/7QNr5S3lZBo”]Morning Market Prep Video[/button_2]

Trade Wisely,

Doug