Good Morning everyone and Happy Friday!
As we close in on a 20K print for the Dow the market seems to have shifted for all bull to more of a 2 sided looks with short sellers and profit takers equally matched. As they duke it out in the center of the ring there are still so many good charts it’s difficult to choose which traders to take. As you know I view Friday much like Rick and prefer to do more selling than buying on make Friday a payday.
We have housing start numbers prior to the open today but unless the number is a real surprise I doubt it will provide direction to this morning’s market. At this time futures are showing a positive open and Friday’s have lately been quite bullish so fingers crossed let’s wish for a bullish day to close out this busy week.
Much of the country will have a bitterly cold weather, wish you all a safe and restful weekend!
Trade Wisely,
Doug
Click Here to Watch the Morning Video
HRC Member’s – Go to the members’ area for today’s stock picks Members Link
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
INFN Long | RBB | Inverted H&S | PBO
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
From a bull’s eye: The SPY pulled back yesterday closing above the T-Line™ on the daily chart while the 4-hour chart closed below the lower T-Line™ band. On the 4-hour chart price constructed a Shooting star on high volume, a great deal of caution is needed for the next few days. Protecting your money is just important as making the money.
Coaches are booking up – Reserve your Coach and get a jump on next year
PROBLEM:
We have found many traders just need a little help to reach the next level of trading. The next level could be to increase profits or go from almost profitable to profitable.
- Not sure about your strengths and weaknesses
- Searching for your trading style
- Need help building a trading plan
- Not sure how to use chart patterns, trendlines, price action or Candle signals
SOLUTION:
Hit and Run Candlesticks offers private coaching
- 4 Professional coaches
- Coaching tailored to your needs
- Affordable blocks of time
https://hitandruncandlesticks.com/coaching/
Stock Picks below
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
INFN Long | RBB | Inverted H&S | PBO
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
From a bull’s eye: The SPY pulled back yesterday closing above the T-Line™ on the daily chart while the 4-hour chart closed below the lower T-Line™ band. On the 4-hour chart price constructed a Shooting star on high volume, a great deal of caution is needed for the next few days. Protecting your money is just important as making the money.
Coaches are booking up – Reserve your Coach and get a jump on next year
PROBLEM:
We have found many traders just need a little help to reach the next level of trading. The next level could be to increase profits or go from almost profitable to profitable.
- Not sure about your strengths and weaknesses
- Searching for your trading style
- Need help building a trading plan
- Not sure how to use chart patterns, trendlines, price action or Candle signals
SOLUTION:
Hit and Run Candlesticks offers private coaching
- 4 Professional coaches
- Coaching tailored to your needs
- Affordable blocks of time
https://hitandruncandlesticks.com/coaching/
Stock Picks below
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Good Morning RWO!
Half way through December and the question on everyone’s mind, Did the Fed kill the Santa Claus rally? Personally, I don’t think so. If you think about just how much the markets have moved in the last 6 weeks it’s actually amazing that yesterday we didn’t pull back a lot more. Dow futures remained positive all night long and although lower than the overnight highs they still continue to remain positive at the moment.
There are several big items on the economic calendar this morning. As long as they don’t disappoint in a big way we could have a positive open contrary to what yesterday’s closing candle would suggest.
I don’t expect the bulls to give up on 20K very easily. Even if we get more selling today I think the bulls will at least attempt another shot at that big round number before year’s end. Believe me, I know the market needs a pullback but the super bull may still have a few more things to say.
Have a great day!
Trade Wisely,
Doug
Click Here to Watch the Morning Video
HRC Member’s – Go to the members’ area for today’s stock picks Members Link
Last nights e-Learning link: https://hitandruncandlesticks.sharefile.com/d-s8b7a318ced949bc9
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
TEX Long | Trending | Higher Lows | J-Hook Continuation
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
From a bull’s eye: The SPY hit our $228.00 line yesterday and the DJ-30 came so close to the 20K number. Today it’s ALL about the FED’s and how the market reacts.
Going into today’s trading the bulls are still in charge, we will be for any trend charge clues, careful not to micro-manage, here are 4 tools that could help; The T-Line™, Price action (Candlesticks), Support, Volatility Stop
Coaches are booking up – Reserve your Coach and get a jump on 2017
PROBLEM:
We have found many traders just need a little help to reach the next level of trading. The next level could be to increase profits or go from almost profitable to profitable.
- Not sure about your strengths and weaknesses
- Searching for your trading style
- Need help building a trading plan
- Not sure how to use chart patterns, trendlines, price action or Candle signals
SOLUTION:
Hit and Run Candlesticks offers private coaching
- 4 Professional coaches
- Coaching tailored to your needs
- Affordable blocks of time
https://hitandruncandlesticks.com/coaching/
Stock Picks below
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
Last nights e-Learning link: https://hitandruncandlesticks.sharefile.com/d-s8b7a318ced949bc9
Rick’s Featured Trade Ideas
Today’s featured trade idea and my personal trade plan
TEX Long | Trending | Higher Lows | J-Hook Continuation
Double click the trade plan to enlarge.
This not a recommendation to buy. I am simply sharing a trade I am considering.
From a bull’s eye: The SPY hit our $228.00 line yesterday and the DJ-30 came so close to the 20K number. Today it’s ALL about the FED’s and how the market reacts.
Going into today’s trading the bulls are still in charge, we will be for any trend charge clues, careful not to micro-manage, here are 4 tools that could help; The T-Line™, Price action (Candlesticks), Support, Volatility Stop
Coaches are booking up – Reserve your Coach and get a jump on 2017
PROBLEM:
We have found many traders just need a little help to reach the next level of trading. The next level could be to increase profits or go from almost profitable to profitable.
- Not sure about your strengths and weaknesses
- Searching for your trading style
- Need help building a trading plan
- Not sure how to use chart patterns, trendlines, price action or Candle signals
SOLUTION:
Hit and Run Candlesticks offers private coaching
- 4 Professional coaches
- Coaching tailored to your needs
- Affordable blocks of time
https://hitandruncandlesticks.com/coaching/
Stock Picks below
Members Daily Trade Ideas. Be aware of sudden market changes!
This list is reserved for subscribed members
Continue Reading
A quick class on volatility as well as question and answer. The Public was invited to this session.
Good Morning Profit Traders!
Short and sweet this morning. It’s all about the data and the Fed today. Manage the positions that you’re in pop some popcorn, roast some chestnuts on an open fire and put up your feet and watch the show.
I would not be at all surprised to see the Dow make a run for 20k at some point during the day today but expect a lot of volatility particularly after the FOMC announcement it. When the dust settles and the gamblers have left to lick their wounds we can get back mixing it up. Until then it’s best just stand aside.
Have a great day!
Trade Wisely,
Doug
Click Here to Watch the Morning Video
