More Fallout From Soleimani Killing

Markets gapped lower Friday on fears and consequences of the US assassination of a top Iranian General (on his way to meet with the Iraqi Prime Minister).  However, the major indices recovered a bit over the session.  At the end of the day, the SPY was down 0.76%, DIA down 0.80% and QQQ down 0.92%.  So, the bulls are not ready to run for cover and we remain near all-time highs.  However, the short-term trend is more sideways than bullish as of the end of the week.

It was a busy weekend of reactions from the US drone strike in Iraq.  Iran says they are no longer bound by the 2015 nuclear deal and are ramping up uranium enrichment.  Rockets were fired into the Green Zone, landing near the US Embassy in Iraq.  The Iraqi government has suspended coalition operations against ISIS.  In addition, the Iraqi Parliament (at the request of the Iraqi PM) has demanded that US troops leave their country and refrain from using Iraqi land, water or air space.  Finally, President Trump is threatening sanctions on Iraq (for kicking us out) and also threatened to strike 52 specific Iranian targets if Iran retaliates…and has deployed thousands more US troops to the area in order to back up that threat. 

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While market impacts over this still-unfolding story are unsure at this point, it would seem likely that oil markets will be unsettled by the threat of war in the Persian Gulf.  (Brent hit $70 today.) Typically, after a middle-eastern crisis, safety plays (Gold and Bonds) tend to fade and stocks gain after an initial reaction.  However, oil prices tend to remain elevated for longer periods.  An interesting non-US fallout is that the Saudi Aramco stock price fell nearly two percent Sunday over fears of Iranian reprisal attacks against Saudi Arabia. 

Monday’s major economic news is limited to Dec. Services PMI (9:45 am).  The only earnings report of note Monday is STT. However, there may be news out of Congress (either over limiting President's Trumps War Powers toward Iran or on the Impeachment).

In other business news, BA has found another potential design/wiring flaw in their 737Max. Just like the software flaw that caused the crashes, a December audit found that Boeing knew of this problem, but had not reported it to the FAA.

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Overnight, Asian markets were mixed but mostly red on the news out of Iraq.  In Europe, markets are also mixed but mostly red at this point.  As of 7:30 am, U.S. futures are down sharply (greater than 1%) following Thursday’s stellar start to the year.  

The bulls were off to a great start on January 2nd.  However, the killing of Iran’s top general has thrown the world into turmoil again.  It’s hard to bet against the bulls in the longer-term.  However, anything can happen short-term.  So, all we can do is be nimble, add hedges or get flat until things settle.  Continue to plan your trades, and trade your plans.  As always, keep taking profits along the way, move your stops to protect yourself and wait for the trade to come to you. 

Ed

Swing Trade Ideas for your consideration and watchlist: CTST, LB, NIO, NUAN, WDAY, TWLO, GE, ROKU, CGC, SHW, XPO. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

GE | Chart of the Day

We bought GE calls on Friday, January 3, 2020

Let's look at GE found on the LTA scanner. We'll discuss what I like about it, what potential I see and how I might trade it. If you aren't already in the room, you might think about taking a 60-day trial for just $49.

DISCLAIMER: The stocks we talk about are not recommendations to buy or sell. You must evaluate the risks and rewards yourself. Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is financial or trading advice. All information provided is intended for educational purposes only. You are advised to thoroughly test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

US vs. Iran Takes Center Stage

In economic news Thursday, the biggest story of the day came prior to the US market open.  The Chinese Central Bank lowered the amount of capital Chinese Banks must hold.  This move will inject between $800 billion and $1 trillion into the Chinese economy, with world markets hoping that stimulus will cause a world-wide rebound.  Thus we got a gap up.

So, Markets gapped higher to start the new year.  This was met with sideways grind until the bulls kicked it into gear again after 2 pm.  There were significant surges about 2:30 pm and again at 3:50 pm.  The net result was that the SPY closed up 0.94%, DIA up 1.23% and QQQ up 1.67%...all closing at new all-time high closes.  This happened on above-average volume.  As you’d expect, the VXX fell dramatically as well, down to 14.51.  There simply is no fear in this market.

Overnight last night, the potentially most significant story of the day came out of Iraq.  President Trump apparently ordered the targeted killing of Iran’s top military General, while he was in Iraq.  (Akin to some other country killing the Chairman of the US Joint Chiefs of Staff.)  This is the second US airstrike in Iraq targeting Iran or Iranian allies in the last couple of days.  Iran is vowing revenge, the US State Department has ordered Americans out of Iraq and Iraqis are, understandably, not pleased with US actions or the prospect of another war. 

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This action may betray US administration policy.  Obviously it has the potential to spiral into another middle eastern War for the US. (This is conjecture, but based on forward-positioning of tens of thousands of US Troops into Saudi Arabia in recent months, Administration actions against Iran since Trump took office, and the fact that no sitting US President has lost an election during wartime...it seems plausible.)  In any event, Dow futures dropped 350 points on this news overnight.  Oil prices also spiked four percent.

Friday’s major economic news includes Dev. ISM Mfg. PMI (10 am), Crude Oil Inventories (11 am), and a couple of Fed speakers in the afternoon.  The only earnings report of note is LW.

Overnight, Asian markets were mixed but mostly red on the news out of Iraq.  In Europe, markets are also mixed but mostly red at this point.  As of 7:30 am, U.S. futures are down sharply (greater than 1%) following Thursday’s stellar start to the year.  

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The year was off to a great start and the bulls seem to be focusing on optimism over a trade deal with China and potential for some recovery based on Chinese economic stimulus.  However, this military situation with Iran now takes center stage and will bring fear and uncertainty back into markets.  I had intended to say that over-extension and the unknown are the only things to fear early this year.  However, at least one of those unknowns now has a name…Iran.

With that said, we cannot predict geopolitics, US politics or market reactions.  All we can do is add hedges or get flat until things settle.  So, continue to plan your trades, and trade your plans.  Don’t chase the new year rally.  Trade charts you have analyzed and chosen to meet your criteria.  As always, keep taking profits along the way, move your stops to protect yourself and wait for the trade to come to you. 

Ed

Swing Trade Ideas for your consideration and watchlist: AMD, GE, TWLO, IEF, MPLX, INTC, CSCO, NKE, INFO, CGC, VXX. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Bulls Have the Momentum

Markets took a rest Friday with gaps higher across the board, met with a fade of the gap selling.  The end result was a flat day with the SPY (down 0.02%) and QQQ (down 0.008%) on the red side of flat and the DIA (up 0.09%) just on the green side of flat. However, this still leaves markets right at all-time highs.  It’s worth noting that volumes were near average across all indices. 

For reference, this was the fifth straight week of gains as Santa Claus continues his rally.  Interestingly, the VXX climbed 2% Friday to a still-low 15.23.  In addition, T2122 fell out of the overbought territory, down to 73.04.

Over the weekend, there was no major news.  North Korea apparently did not follow through on its threatened “Christmas Present for the US.” However, the US did attack apparently Iranian-aligned militias in both Iraq and Syria.  Other than that, there was just a now-normal church shooting and knife attack on a Hanukkah celebration. So, just a standard, low-key weekend…nothing to rile markets

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Monday’s major economic news includes Trade Balance and Auto Inventories (8:30 am), Dec. Chicago PMI (9:45 am), and Nov. Pending Home Sales (10 am).  With another holiday upon us, again this week there are no major earnings reports.

Overnight, Asian markets were mixed.  In Europe, markets are all in the red at this point.  As of 7:30 am, U.S. futures are flat, sitting on either side of Friday’s closing value.

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All-in-all, we are wrapping up another great year for stocks as markets have gained close to 30%, despite trade fears, on the back of three Fed cuts (even with a strong domestic economy).  With those gains in their pocket, it is doubtful bulls will be willing to allow any of their profits to evaporate in the last two days of the year.  So, the bulls have both the momentum and reason to defend the highs the next couple days. 

At this point, it seems over-extension and the unknown are the only things to fear early this week.  With that said, remember that volumes will likely continue to be light as many traders take more time off for the holidays.  So, continue to plan your trades, and trade your plans.  Don’t chase (there will always be another trade, I promise), keep taking profits along the way, move your stops to protect yourself and wait for the trade to come to you.

Ed

Swing Trade Ideas for your consideration and watchlist: FTCH, PSX, BX, KO, MA, CPB. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

China Trying to Help Santa

Friday was an indecisive day at the highs as the SPY closed just on the red side of flat, the DIA dead flat, and the QQQ posted a 0.40% gain.  This gave the QQQ another new all-time high close on the strength of its gap higher at the open.  Beyond the open, all three major indices printed Doji-type candles on the day.  The VXX did gain 1.21% but remains at historical lows as fear does not seem to exist in markets now. 

In US news this weekend Congress approved and President Trump signed the new spending bill to prevent a government shutdown.  This bill raised spending to $1.4 Trillion and in the process eliminated taxes used to pay for some of the ACA (Obamacare) programs.  It also avoids the possibility of another government shutdown until at least Sept. 30 2020.  (However, it’s hard to imagine anyone allowing a government shutdown a week before any election, let alone a Presidential election.)

In International news, China announced that next year it will reduce its tariffs on 144 new products (706 products were already in this program in 2019).  This means a total of 850 products will be charged import tariffs below the WTO “most-favored-nation” tariff rates.  Crucial to President Trump this will include Frozen Pork. However, it should be noted that we are talking only a 4% cut (from 12% to 8%).  So, the impact on demand is unknown.  However, it is another trade olive branch.

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Monday’s major economic news is limited to Nov. Core Durable Goods (7:30 am) and Nov. New Home Sales (10 am).  There are no significant earnings reports slated for the entire week.

Overnight, Asian markets were mixed but mostly green.  In Europe, markets are also mixed at this point.  As of 7:30 am, U.S. futures are pointing toward a quarter-percent gap higher at the open.

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The bulls seem to have cleared a path for Santa to continue his rally into year-end.  The Fed continues to quietly pump tens of billions of dollars of liquidity into markets daily through QE.  Meanwhile, a Phase-one Trade Deal seems done, earnings are out of the way and markets are ignoring impeachment.  So, at this point, it seems over-extension and the unknown are the only things to fear.  

With that said, remember that volumes will be light this week as most traders take time off for the holidays.  Continue to plan your trades, and trade your plans.  Don’t chase (there will be another trade, I promise), keep taking profits along the way, move your stops to protect yourself and wait for the trade to come to you. 

Ed

Sorry, but no Swing Trade Ideas this week. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Slow and Steady Rise

The bulls pushed markets steadily higher all day Thursday.  All three major indices printed new all-time high closes with the SPY up 0.41%, the DIA up 0.44%, and the QQQ up 0.63%.  This move was made on roughly average volume and good breadth as T2122 remains at the 84 level.  Meanwhile, the VXX fell again to 14.86 as there is no fear at all in stock markets now. 

Economic data was mixed on Thursday as Jobless claims fell, but fell less than expected.  In addition, the Philly Fed Mfg. Index was much lower than expected.  However, MU, CAG, and DRI all posted strong earnings before the session. 

That said, the main news story of the day was impeachment again.  Markets seem to have discounted it, probably seeing it as a stalemate that can do little economic harm.  The Democrats got an indictment, but the Republicans refuse to recognize those charges and intend to acquit the President regardless of evidence/testimony.  The only question remaining seems to be what the January Senate “trial” will look like.  Regardless, the market has not taken this as bad news, at least as things stand now.

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After hours Thursday NKE posted beats on both the top and bottom lines.  Friday’s major economic news includes Q3 GDP (8:30 am) and Michigan Consumer Sentiment (10 am).  The only major earning report on the day is KMX, which reported a miss on earnings but a beat on sales already this morning.

Thursday’s major economic news includes Weekly Jobless Claims and the Dec. Philly Fed Mfg. Index (both at 8:30 am) and Nov. Existing Home Sales (10 am).  Earnings before the open include ACN (beat on both lines), CAG (beat on both lines), and DRI (beat on earnings, missed on revenue).  Meanwhile, NKE reports after the close.

Overnight, Asian markets were mixed, with Hong Kong a bit higher while the others were flat or in the red.  In Europe, markets are also mixed at this point.  As of 7:30 am, U.S. futures are just on the green side of flat all pointing to less than a tenth of a percent gain at the open.

Favorite Charting Software

Fed rates remain paused (and heavy QE is underway).  A phase-one Trade Deal also seems in hand and there are no major earnings or news events souring moods at this point.  So, the bulls continue to have the momentum heading toward the year-end holidays.  The only fly in the ointment now is fear of over-extension and the unknown. As I’ve said (continuously) continue to plan your trades, and trade your plans.  Keep taking profits without being too greedy, move your stops to protect yourself and wait for the trade to come to you (don’t chase).   

Ed

Sorry, but no Swing Trade Ideas for your watchlist on Friday. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Impeachment, Healthcare, and MU

Once again Wednesday, markets made a small gap higher only to fade the gap in a small range.  The SPY (by 2 cents) and QQQ (by 16 cents) both eked out new all-time high closes again while the DIA closed down just 0.07% from its own all-time high close.  This action the last two days is certainly a consolidation and it does look a little bit “toppy.”  However, the trend remains bullish and breadth continues with T2122 now at 84.39, which is barely in overbought territory.

After hours MU beat estimates on both the top and bottom lines.  It also reported that it had now received all required licenses for supplying Huawei. This had been a massive overhang for MU, because the Chinese company is Micron’s largest customer.

Also, a federal appeals court ruled in favor of a petition supported by the Trump Administration.  They told a lower court that the “individual mandate” of the Affordable Care Act (Obamacare) was unconstitutional.  However, instead of striking down the entire law themselves, they ordered the original lower court to consider whether or not the whole Act, including coverage for pre-existing conditions, should be killed.  This “half a loaf” ruling virtually guarantees the case will be appealed to the Supreme Court (maybe by both sides) and is unlikely to be decided before the 2020 election.  In turn, this also means Healthcare and Health Insurance will be political hot topics again and that the longer-term Insurance industry outlook is likely to remain in doubt for at least another year.

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However, the biggest overnight news story was impeachment.  After another day of alternate narrative (reality?), the House voted to impeach President Trump on both counts (Abuse of Power and Obstructing Congress).  The next step will be to send the indictments to the Senate for trial.  Luckily for the President, Republicans have flat out stated they don’t intend to conduct a fair trial (as constitutionally mandated).  Instead, they say they intend to simply acquit the President of all charges. And they have plenty of votes to do just that since conviction requires a supermajority. To me, the interesting question will be Chief Justice Robert's (who will preside) position on the Senate process and the idea of declaring a verdict before the charges or evidence is even delivered.

Thursday’s major economic news includes Weekly Jobless Claims and the Dec. Philly Fed Mfg. Index (both at 8:30 am) and Nov. Existing Home Sales (10 am).  Earnings before the open include ACN (beat on both lines), CAG (beat on both lines), and DRI (beat on earnings, missed on revenue).  Meanwhile, NKE reports after the close.

Overnight, Asian markets were all slightly in the red.  In Europe, markets are mixed at this point.  And as of 7:30 am, U.S. futures are pointing toward another slight gap higher of between 1/10th and 1/4th percent.

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With Fed rates on pause (and heavy QE underway), a phase one Trade Deal in hand, and earnings out of the way, there doesn’t seem to be many obstacles in the bull’s path.  Despite this, the rally has been on pause for a couple of days on consolidation.  All we can do is continue to trade the chart we get and focus on the swings.  So, continue to work the cliché…plan your trades, and trade your plans.  Keep taking profits without being too greedy, move your stops to protect yourself and wait for the trade to come to you (don’t chase).   

Ed

Swing Trade Ideas for your watchlist and consideration: NEO, PINC, THO, SKX, TWTR, CREE, SPLK, DXC, WCG, VXX. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Slow and Steady Santa Rally

Markets gapped slightly higher again Tuesday, then they proceeded to fade and end the day flat, if mildly in the green.  Still, as a result, all three major indices eked out a new all-time high close on indecisive candles.  The bottom line is that while the bulls maintain control, they do not show great enthusiasm. 

After hours Tuesday, FEDX missed earnings estimates and lowered their 2020 guidance.  This may reflect the feud with Amazon although they also blamed the impacts of China tariffs.  That said, it may provide some read-through to general economic activity.

Overnight the Auto industry saw a couple deals.  Fiat Chrysler and Peugeot signed a binding merger agreement.  This will create the world’s fourth largest auto company.  In addition, Isuzu bought Volvo’s small truck division.

Early this morning, the Mortgage Bankers Association reported that mortgage applications fell 5% last week as rates flattened out (stopped falling).  However, that number of applications remains 65% higher that the same week in 2018.  In addition, both GIS and CTAS reported a quarterly beat with revenues in-line with expectations.

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The only major economic news for Wednesday are Oil Inventories (10:30 am).  However, there will also be the House Impeachment vote (9 am), but that is not likely to be a big market-mover.  The only earnings of note after the close are from MU.

Asian markets were in the green overnight.  In Europe, markets are mixed, major labor strikes going on in the UK (Heath Service workers) and France (Transport workers).  As of 7:30 am, U.S. futures are again mixed on either side of flat.

Favorite Charting Software

The Santa rally remains in place.  However, we are not seeing a raging bull run, just a drift higher at the moment. This is not necessarily bad, because it slows the rate at which we get over-extended. Despite the optimism, remember that markets move in a zig-zag motion.  So, the next pullback is not an "if" question, but rather a "when" question. Keep taking profits, moving stops, and trade your plans while we enjoy the Santa sleigh ride. 

Ed

Swing Trade Ideas for your watchlist and consideration: ALLK, NKTR, TGT, CLR, FTCH, GT, KBH, WLL, LYB, PSX, IMMU, CHGG. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

FDEX, Brexit, and China

Markets gapped higher and were volatile on the day with all three major indices ending at all-time high closes.  (SPY up 0.69%, DIA up 0.34%, and QQQ up 1.00%.) However, the SPY printed an indecisive Doji and the DIA printed a Shooting Star (or at least Gravestone Doji) type candle.  The bottom line is that while the bulls clearly have control, there are some warning signs.  In addition, T2122 is not in the overbought area at 83.46.

Among the major business news on Monday was that BA will halt 737 Max production in January.  This comes due to the delays in FAA recertification, the loss of new sales and cancellations of existing orders have been mounting.  For example, LUV (the largest US customer for 737 Max aircraft) canceled another month of 737 Max flights (300 per day), pushing the earliest they will fly those planes out again until at least April.

Another story was that the fight between FEDX and AMZN has heated up again.  It seems Amazon announced it will no longer permit Amazon Marketplace Sellers to use FEDX for ground deliveries, effective immediately.  In addition, AMZN has announced they will launch their own air delivery service, including 50 aircraft and an air delivery hub opening in Kentucky during 2021.

Overnight in the UK, British press reports that PM Boris Johnson is adding a clause to his Brexit Bill (which now has plenty of votes to pass).  The new clause explicitly rules out any extension of the transition period (the post-breakup period when trade deal was to be negotiated). This means the EU-UK trade deal must be negotiated, written and passed by both sides within 11 months.  While this sounds reasonable, it took the parties 3+ years just to agree to terms of the break-up and the trade deal has always been seen to be the much more complicated task.  The UK Pound fell one and a quarter percent on the news.

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More China trade deal details also came from China overnight.  It seems that part of their additional “Ag purchases” will be in the form of ethanol.  They will also reclassify all trade with Hong Kong to be part of the Chinese portion of the phase one deal.  (This Hong Kong move immediately wipes out $10 billion of their additional $40 billion in purchases from the US.)

The major economic news for Tuesday includes Nov. Building Permits and Nov. Housing Starts (both at 8:30 am), Nov. Industrial Production (9:15 am), and JOLTS (10 am).  The only earnings of note are CTAS and FDX, both after the close.

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Overnight, Asian markets were green.  In Europe, markets are mixed, but mostly in the red on the new hard EU-UK trade deal deadline.  As of 7:30 am, U.S. futures are mixed on either side of flat.  

The Santa Claus rally into year-end sure seems like a high probability.  However, we all know the market psyche is fragile and that we worry about extension at these highs.  All we can do is trade the market we are given and focus on short-term swings.  We all know market move in zigs and zags.  So, continue to take profits, move stops, plan your trades, and trade your plans. 

Ed

Swing Trade Ideas for your watchlist and consideration: CTXS, FIVN, CROX, WCG, ENBL, WWE, GRUB. Trade smart, take profits along the way and trade your plan. Also, do not forget to check for upcoming earnings. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick... I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%.... this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

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NWL Puts up 37.8 for us, KO Calls up 8% and we bought a little VXX today as well as CHGG. I know everyone wants a Santa Clause rally and we may or may not get one, you just never know.

But I do know if we stay consistent with our strategies and listen to the charts we can make our own Christmas.

Check it out Ed Carter will be hosting a small group (10 traders only) coaching class on December 28, 2019. Ed also asked if I would explain the steps I plan to take to double my "Road To Wealth" Account! Of Course, I said yes. Click Here to see More

Like I said only (10 traders max) 3 spots left, we are very serious about this. We want to keep it small so we can make sure you completely understand what we teach. Only 3 Spots Left

Rick Saddler

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SMS text alerts and reminders?👈

Check out our newest YouTube videos👈

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription PlansPrivate 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

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