President: More Tariffs, Need Neg. Rates and Weak Dollar

After the Thanksgiving holiday, stocks spent the half-day Friday grinding a bit lower.  The SPY and DIA closed down about 0.35%, while the QQQ closed just under half a percent in the red.  This leaves markets very near the all-time highs and still a bit extended from both the T-line and 50sma.  However, T2122 has fallen back into its mid-range.  So, we are at these highs on less participation recently.  Meanwhile, the VXX continues to show very little fear in the market.

In economic news, “Black Friday” was a rousing success as US shoppers spent a record amount for that day ($7.4 billion).  Top Retail analysts are also predicting an even bigger “Cyber Monday” (with sales of $9.4 billion forecast).  However, even though these are record sales in the US, we should keep this in perspective.  Earlier in the month, BABA alone pulled in $38 billion of sales on “Singles Day” (their self-invented Anti-Valentine’s Day)…and that's just one Chinese online retailer.

Related to the Trade War, the official paper of the Chinese Communist Party posted a tweet on Saturday.  The tweet said that a US Pledge to scrap new tariffs (12/15) is not an acceptable replacement for rolling back existing tariffs.  In addition, China has suspended US military “Port Visits” to Hong Kong and placed sanctions on US-based NGOs.  (Over American Pro-Hong Kong Freedom legislation.) Not to be outdone, President Trump took to twitter again late-night placing tariffs on South American Steel and Aluminum, as well as criticizing the US Fed again and demanding that they abandon decades of pro-trade strategy to lower rates and devalue the dollar.  (The King of Debt loves him some negative rates and cheap dollars.)

$50.00 discount with code: Privilege

In other political news, CNBC reported over the weekend that President Trump is again working with Capitol Hill Republicans toward another Tax Cut bill.  The aim of this new tax cut would be reducing the 22% top individual rate down to 15%.  There was no mention at all, not a peep, about any corresponding spending cuts.  Apparently, deficits aren’t a real thing in an election year.  In addition, other tax brackets were not being addressed at this point.  Even so, analysts say this would result in roughly $800 billion in tax reductions by 2025.

Major economic news for Monday is limited to Nov. ISM Mfg. PMI (10 am).  In fact, this will be a light week for economic news until Friday.  The same is true of earnings, with no earnings of note Monday and only a handful the rest of the week.

Favorite Charting Software

Overnight, Asian markets were mixed, but mostly in the green.  In Europe, the major markets are mostly in the red at this point.  As of 7:30 am, U.S. futures are all pointing to a small gap higher of between a quarter and a third of a percent.

Traders should all be back after an extended weekend break.  Typically, coming back off a holiday leads to some selling.  However, the bulls have been running hard in November, Black Friday had record sales and there is no scheduled Earnings or Economic News to bring things down.  So, the bulls may well be ready to resume their run.   

Either way, remember we are swing traders.  So, continue to lock-in profits, move stops, and trade your plan.  Remember that your job is to make consistent gains and reduce risk, not to hit home runs every once in a while.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – NRG, APH, WFC, GILD, AES, DHI, CNC, KLAC, ENTG, MTZ. 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

Assumed Deal - No Fear

Markets drifted mildly higher all day on Tuesday on relatively low volume.  This allowed the SPY, DIA, and QQQ all to close at another all-time high.  So all-in-all it was a very blah day in the market.  That said, we remain extended and the VXX continues to be in "dangerously complacent" territory.

In economic news, the President said Tuesday that trade talks “are in the final throes of a very important (Phase One) deal.”  This came after the Chinese had announced the previous night that a phone call had been held between chief negotiators.  Markets did not react to President Trump’s statement.  (Perhaps this was because of the prior overnight announcement or maybe just fatigue of posturing around such a deal.)

$50.00 discount with code: Privilege

On other fronts, the FAA has said again that the BA 737 Max is not ready for recertification (and that it will take all the time needed to reevaluate the plane). This statement completely contradicts BA claims that it will resume deliveries of the 737 Max in December. In fact, the FAA said the Max won't even make its recertification flight until mid-December and recertification may well take through the end of January. (I'm not sure how BA plans to deliver planes if they cannot fly them to the customers.) This news might have an impact on BA stock.

Major economic news for Wednesday includes Oct. Durable Goods, Q3 GDP, and Weekly Jobless Claims (all at 8:30am).  This is followed by Oct. Pending Home sales and Crude Oil Inventories (both at 10 am).  The only earnings of note are DE, who report before the Open.

Overnight, Asian markets were in the green.  In Europe, the major markets are also in the green at this point.  As of 7:30 am, U.S. futures are all pointing to a gap higher of between a quarter and a third of a percent.

Favorite Charting Software

While there is a fair amount of economic news today, it’s quite possible that many traders have already called it a week going into the holiday.  Even if this is not the case in the morning, expect light volumes in the afternoon.  The point is that it is quite possible we see another low-volume blah day in the markets.    

Even so, the bulls have really been relishing their all-time highs.  So, we may move higher, even on lower volume.  As always, continue to lock-in profits, move stops, and trade your plan.  Remember that your job is to make consistent gains and reduce risk, not to hit home runs every once in a while.

Ed

Sorry, no Swing Trade Ideas for your watchlist today as trading should be light before Thanksgiving. 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

Phone Call Rally?

The bulls ran hard the first hour of the day Monday (on optimism stemming from hope on the trade war front and merger news).  After 10:30 am, markets drifted sideways the rest of the day.  The indices closed near their highs for the day.  The end result was another all-time high close in the SPY, DIA, and QQQ.  Even the IWM had a very strong day, breaking out of its range going all the way back to March and (unlike the other indices) it did so on heavy volume. 

If there was anything bad on the day, it was that the bullish surge took the T2122 indicator back up well into the overbought area at 88.  (T2122 is a 4-week New High to New Low Ratio that has a 0-100 range with over 80 meaning over-bought.)  Likewise, all the indices remain extended from their 50-day SMA.

$50.00 discount with code: Privilege

On the news front, overnight China’s top trade negotiator had a phone call with Sec. of Treasury Mnuchin to “address the core issues” last night.  This is another signal of progress toward a trade deal and the market is quite likely to take this as bullish.  However, in reality, this proves nothing as far as an actual deal goes. 

In other news, Congressional Democrats say they expect to deliver their Impeachment report shortly after the Thanksgiving break.  However, the door was left open for more hearings and last night a Federal Judge ruled that former White House Counsel McGahn must testify (a decision sure to be appealed).  This all could lead to a House Impeachment vote (essentially indictment) before the Christmas break.  The process (actual trial) would then be in the hands of the Senate and presided over by Chief Justice Roberts at that point.

Major economic news for Tuesday is limited to Conf. Board Consumer Confidence and Oct. New Home Sales (both at 10 am).  In terms of earnings, ADI, BBY, DLTR, and HRL all report before the bell.  (BBY reported a beat and raised forecasts.) After the close, ADSK, HPQ, and KEYS all report.

Favorite Charting Software

Overnight, Asian markets were mixed but mostly green.  In contrast, European markets are mixed but mostly red at this point.  As of 7:30 am, U.S. futures are all just on the green side of flat.   

With the holiday coming and the most important economic news coming later in the week, it is quite possible Tuesday is a low-volume blah day in markets.   Still, bulls have been hearing only what they want to hear lately.  So, that phone call report may set off another rally.  Regardless, be careful, as low volume is likely to magnify market over-reactions.  Just remember that in the longer-term the market trend is bullish.  Continue to take profits, move stops, and trade your plan.  Keep in mind that a Trader’s job is to consistently make gains, not to hit home runs every once in a while.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – DXC, AMG, NTAP, CXO, HAL, CBS, ARNC, DVA, CDW, ANTM, CTL. 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

Short Trading Week

Friday was a low-volume, indecisive, green day across the markets.  Expectations for a low-volume holiday week ahead and the desire to avoid weekend headline risk may well have led to this blah day.  In any case, the SPY, DIA, and QQQ all appeared to be curling up after a three-day pullback.  Likewise, T2122 rose back to mid-range.  So, on a small green day, we started to see broader participation in the rally of the last nearly two months.  

On the Trade War front, over the weekend the two Presidents continued to “talk past each other” as reported by Bloomberg.  However, China did announce guidelines that it will increase penalties for violations of Intellectual Property rights, as part of an effort to “reduce frequent IP violations by 2022.”  However, no details were released nor any mention made of state-sponsored or owned organizations (which are by far the biggest concerns in the IP theft arena).  This was seen as an olive branch toward the Trump Administration who will be able to claim it as a trade war win.

$50.00 discount with code: Privilege

In Hong Kong, the pro-Democracy Party has won a huge victory in the “District Council” elections on the heaviest voter turnout ever.  Results showed the Pro-Democracy party winning nearly 10 times the number of seats that the Pro-Beijing Party won.  However, this will have no impact on actual governance in Hong Kong, as both the “Legislative Council” and Government Offices (who actually make and enforce laws) are essentially Beijing-controlled.  Nonetheless, this result may send a message to the Mainland and might cause a rethinking of their approach.

There is no major economic news for Monday.  The only earnings report of note before the bell is from JEC.  However, in merger news, Swiss pharmaceutical giant Novartis agreed to buy MDCO.   Meanwhile, overnight, Asian markets were mixed but mostly green.  In Europe, all markets are almost all in the green as well at this point.  As of 7:30 am, U.S. futures are pointing to a small gap higher.

Favorite Charting Software

We have the holiday coming this week and very little scheduled market-moving news.  It is quite possible that we just drift, at least until next week when the initial Black Friday and Cyber Monday sales reports will be available.  If we do get unexpected news this week, be careful, as low volume is likely to magnify the typical market over-reaction.   

So, remember that in the longer-term the market is bullish.  Continue to take profits, move stops, and trade your plan.  Keep in mind that a Trader’s job is to consistently make gains, not to hit home runs every once in a while.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – X, ADT, STT, BAC, DIS, NTAP, CTL, DXC, BIDU, PWR, FEYE. 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

More Trade Talk and Worry

On Thursday, the bad news was that stocks posted their first 3-day losing streak since July.  In the process, they broke their uptrend, which began back in early October.  The good news is that this “selloff” has only totaled about one percent...and it was a well-needed rest after a strong six-week rally.   

This pullback/pause has seemed to happen over indecision about the outcome of the Trade War with China, etc.  Unfortunately, this is likely to continue simply because international trade is such a massive part of GDP around the world, including the US.  Therefore, trade is a large driver of earnings and, therefore, stock markets.  Moreover, it is likely that finding themselves in this conflict, the Chinese have no reason to rush to an agreement or make concessions, because President Trump faces an election next fall, while President Xi never will. The point is that we traders need to adapt to this new normal. 

$50.00 discount with code: Privilege

Perhaps the best news of the day is that Impeachment Hearings are now concluded.  Obviously, there will be debate and votes on this case, as well as possibly a Senate trial.  However, at least until that trial, these will be limited to being reported in sound bites now that the public hearings are concluded.  Beyond that story, Friday’s major economic news includes the Nov. PMI (9:45 am) and Michigan Consumer Sentiment Survey (10 am).  The only earnings of note before the bell are FL and SJM.

Overnight, Asian markets were mixed but mostly green.  In Europe, all markets are in the green as well at this point.  As of 7:30 am, U.S. futures are pointing to a quarter percent gap higher. 

Favorite Charting Software

Remember that even with the uptrend line broken, we are not far off the highs and we did need a rest.  So, be careful about getting too bearish or over-reacting.  Yes, Trade War whiplash is likely to continue.  However, in a longer-term view, the market is still bullish. 

Today is Friday. So don't forget to take profits in front of the weekend. Continue to lock-in gains, move stops, and trade your plan.  Keep in mind that a Trader’s job is to consistently make gains, not to hit home runs every once in a while.

Ed

Sorry, but no Swing Trade Ideas for your watchlist on Friday. However, if you're in the trading room at 9:10 am Eastern, we will cover some charts. 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

Trade War Leads Agenda

In spite of LOW and TGT both reporting beats (and guidance raises) before the bell, US Markets all gapped lower Wednesday on trade fears based on China’s anger over the US Senate passing a Hong Kong Democracy Bill.  After the Open, we ground sideways the rest of the morning.  However, just before 1 pm, word came from White House sources that a phase one of any trade deal is not expected to be completed in 2019.  This caused an immediate and dramatic sell-off for the next half hour.  

$50.00 discount with code: Privilege

After that early-afternoon selloff, the remainder of the day was spent recovering from this over-reaction.  By day end, we closed with indecisive, black candles across the board.  The SPY and DIA both finished down about 0.4% and the QQQ down 0.6%.  However, all indices remained in their range for the week and we needed a bit of a rest to relieve over-extension anyway. So, the down day was not necessarily a bad thing overall.

Thursday's major economic news includes Weekly Jobless Claims and Philly Fed Mfg. Index (both at 8:30 am) and Oct. Home Sales (10 am).  There are also a couple of Fed speakers, but they should not move markets.   The only major earnings before the bell today are for M (which posted a miss on sales and lowered forward guidance).  In addition, Impeachment Hearings resume at 9 am.

Favorite Charting Software

Overnight, Asian markets were all in the red.  In Europe, markets are almost all in the red as well at this point.  As of 7:30 am, U.S. futures are just on the red side of flat across the board.  However, as is usual lately after the Wed. afternoon bad news about the Trade War, last night the opposite implication comes from China. It is being reported that China has invited the US negotiators to Beijing for another round of talks. (This China Trade War debacle is the very definition of ping-pong diplomacy.)

While Impeachment Hearings continue Thursday, the case has either already been made or was never going to be made (depending on your political point of view).  Either way, that circus will wind down soon with an Impeachment vote. However, the China Trade War story is very likely to drag on for some time.

Remember that the bulls remain strong and resilient.  So, be careful over-reacting to any temporary shock news.  Continue to take profits, move stops, and trade your plan.  Keep in mind that a Trader’s job is to consistently work their process to make gains...not to hit home runs every once in a while.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – ADT, PWR, GRMN, AIZ, CAH, FEYE, GE, FITB, NTRS, INFO, STT. Short – MYL, NI, FANG, OXY, CINF, MCD. 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

Beats and Pot-Stirring

Markets gapped higher Tuesday (despite HD and KSS both missing and lowering Q4 forecasts).  However, after the gap-up, the selling began immediately and took us to red territory across the board.  However, a late-morning rebound rally recovered some of the losses.  The rest of the day was a range-bound grind sideways that left the DIA (anchored by HD) printing a Bearish Engulfing candle, the SPY barely red and the QQQ printing a new all-time high close that was also a black-body Hanging Man candle. In addition, the rally may be showing more signs of being stretched as T2122 fell again (meaning we are maintaining all-time highs on fewer participating companies).

$50.00 discount with code: Privilege

It is worth noting that during his Tuesday Cabinet Meeting Photo Op, President Trump again threatened to raise tariffs on China (if they don’t make a deal).  That made no impact on markets.  This was the first time in a long time, a China Trade headline or rumor had no impact at all on markets.  Impeachment Hearings, which dominated news all day, also seemed to have no impact on markets today. However, overnight the Senate passed the Hong Kong Democracy Bill (President Trump is expected to sign), which immediately drew China's ire and spooked International Markets (on fear this would provoke more escalation in the Trade War).

Wednesday's major economic news is limited to Oil Inventories (10:30 am) and the release of October FOMC Minutes (2 pm).  However, since all Fed votes were made public and most Fed voters have spoken publicly since the FOMC Meeting, this too may be a non-event for markets.  Major earnings before the bell today include LOW (which beat earnings, missed on revenue and raised guidance) and TGT (which posted had a huge beat on the top and bottom lines and also raised forecast for Q4.)  In addition. Impeachment Hearings resume at 9 am.

Favorite Charting Software

Overnight, Asian markets were flat to green.  In Europe, markets are mixed, but mostly green at this point.  As of 7:30 am, U.S. futures are pointing toward a gap higher of between 0.2% (DIA and SPY) and 0.4% (QQQ).  However, HD also reported a sales miss and lowered its full-year guidance this morning. It may also be worth noting that the Hong Kong siege may be winding down with only 100 people still hold-up inside the surrounded University campus.

Once again, we have no scheduled news, all the important earnings already done before the bell, and Impeachment Hearings will likely control the news cycle during the day.  However, since we're in a Trade War, that front always has the potential for news. Nonetheless, it would not be surprising for markets to gap and then drift the remainder of the day.  Unexpected news can always surface.  Regardless, the bulls remain very resilient, only willing to hear good news for months now.  So, don’t get caught over-reacting to a temporary shock.  Continue to be cautious, take profits and move stops.  Remember that a Trader’s job is to consistently make gains…not to hit the occasional home run.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – DT, ALLE, ARNC, MGM, IPG, FEYE, PKG, GE, FITB, INTC, WFC, GS. Short – MYL, NI, FE, FANG, OXY, MCD, DG, CCEP. 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

Stretched But Still Climbing

The markets waffled and then drifted higher Monday on a lull in news.  A late-day push by the bears was unable to stave off another all-time high close on the SPY, DIA, and QQQ…but barely.  More troublingly, breadth dwindled again as T2122 fell back into the 50s while we printed those new all-time highs.  This means fewer companies are participating in the rally.  As we said in the room today, the rubber band is getting pretty stretched.

$50.00 discount with code: Privilege

The only “in day” news Monday was a meeting between President Trump and Fed Chair Powell.  While such meetings have happened often in the past, never has a President continually belittled and berated the Fed before and certainly never calling the Fed Chair (he appointed) an “enemy of America.”  The White House says the President made a case for negative rates, while Powell explained the current Fed policy. Regardless of the President's temperament, both sides reported the meeting was cordial. Neither side claimed any changes were decided.

Tuesday's major economic news is limited to Building Permits (8:30 am).  However, there will be a Fed speaker at 9 am.  Major earnings include HD (see below), KSS, MDT, TJX, and TDG all before the Open.  In addition, Impeachment Hearings resume Tuesday with several people scheduled to testify.

Favorite Charting Software

Overnight, Asian markets were flat to green.  In Europe, markets are mixed, but mostly green at this point.  As of 7:30 am, U.S. futures are pointing toward a gap higher of between 0.2% (DIA and SPY) and 0.4% (QQQ).  However, HD also reported a sales miss and lowered its full-year guidance this morning. It may also be worth noting that the Hong Kong siege may be winding down with only 100 people still hold-up inside the surrounded University campus.

With all the important earnings coming before the bell and Impeachment Hearings likely controlling the news cycle during the day, it would not be surprising for markets to gap and drift Tuesday.  However, unexpected news (diversion?) from the Trade War with China can always surface.  Either way, the bulls have really only wanted to hear good news for months now.  So, don’t get caught over-reacting to a temporary shock.  Continue to be cautious, take profits and move stops.  Remember that a Trader’s job is to consistently make gains…not to hit the occasional home run.

Ed

Swing Trade Ideas for your watchlist and consideration. Long – ALLE, PSX, IFF, IPG, MGM, ITW, PCAR, PKG, LEG, GE, VLO, INTC, APH, NTRS, UTX, WFC, KSU, STI, MS, KR. Short – MCD, FE, CCEP, NI, MYL. 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

No News is Good News?

The bulls ran roughshod Friday from a gap higher (on a Larry Kudlow report of a phase-one deal with China being nearly complete) to a push most of the day.  During the late afternoon, President Trump announced Executive Orders forcing transparency in drug expenses.  With bulls only wanting to hear good news, this was read as very bullish by insurers, hospitals and even drug makers (no downside was going to be recognized for anyone).  So, at the end of the day the SPY, DIA, and QQQ had all achieved new all-time high closes. 

$50.00 discount with code: Privilege

Monday has no major economic news.  There will also be another break in Impeachment Hearings.  In addition, there are also no major earnings reports.  However, there were more violent clashes in Hong Kong with Police forcing entry into a University and being met by Molotov Cocktails and homemade arrows. 

Overnight, Asian markets were mixed.  In Europe, markets are also mixed with the FTSE and a couple of smaller burses in the green, while the DAX, CAC and most others are in the red at this point.  As of 7:30 am, U.S. futures are pointing toward a gap higher of between 0.1% (SPY) and 0.3% (QQQ).

Favorite Charting Software

With no major news planned for the day, it is quite possible that the lull gives bulls the chance to push even higher.  However, unexpected news from the Impeachment or Trade War with China front can always throw things one way or the there.  Either way, the bulls have really only wanted to hear good news for months now.  So, don’t get caught over-reacting to a temporary shock.  Follow the trend, wait for an entry signal and above all, obey your rules!   Be cautious and continue to take profits and move stops.  Remember that a Trader’s job is to consistently make gains…not to hit the occasional home run.

Ed

Swing Trade Ideas for your consideration. Long – BHC, CXO, IPG, CDW, CAH, PM, K, PNR, PCAR, DOV, GE, AMP, CTXS, UTX, WFC, MS. Short – MOS, OHI, CINF, CHD, MCD, CTAS. 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

More Impeachment / China

Markets got a respite Thursday, with no new trade-related news, Fed Chair Powell saying nothing new and no news on the Impeachment front.  As a result of the lull, markets rested all day.  However, as has been the modus operandi recently, the bulls stepped in at day end to ensure that we printed a new all-time high close in the SPY and DIA. 

Thursday news included a pre-market beat and raise by WMT, which was met by tremendous fading of the gap-up all day long.  KHC also got a downgrade by GS and suffered a massive sell-off all day.  It is also worth noting that T2122 shows the 4wk High/Low Ratio remains only mid-range.  This means these recent index highs have been achieved with fewer participating companies.  This is a risk factor for bulls.

$50.00 discount with code: Privilege

After-hours, NVDA reported a 20-cent beat on higher than expected sales.  This should provide a Friday tailwind to the Tech Sector.  13F filings released after the close also showed that BRKB (Warren Buffet) had reduced holdings in AAPL, WFC, PSX and SIRI, while at the same time adding positions in OXY and RH.  (This was for the quarter ended in June.) While the US Administration has no credibility left on the matter, Larry Kudlow did again tell Bloomberg that a "phase one deal" is in the final stages of negotiation between the US and China.

Friday economic news includes Retail Sales and Import/Export Prices (both at 8:30 am), Industrial Production (9:15 am) and Business Inventories (10 am).  However, Impeachment Hearings also resume again Friday. The only major earnings report on the day will be JD, before the bell.

Overnight, Asian markets were all in the green.  In Europe, markets are mixed, but mostly red with the FTSE, CAC, and several others underwater so far.  As of 7:30 am, U.S. futures are all pointing to gap higher of between a quarter percent and 0.40%.

Favorite Charting Software

Impeachment hearings resume Friday.  It is also quite possible we see more twists in the Trade War saga.  However, the bulls have remained stubborn in recent months.  So, don’t over-react to what may turn out to be very temporary whiplashes.  Follow the trend, wait for an entry signal and above all, obey your rules!   Be cautious and continue to take profits and move stops.  Remember that a Trader’s job is to consistently make gains…not to hit the occasional home run.

Ed

Sorry, but no Trade ideas for Friday. Remember that Friday is pay day. Take some profit off the table and protect yourself in front of a long weekend news cycle (when we cannot react). 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

click/touch to navigate
Skip to toolbar