Daily Trade Ideas Public Archives - Page 87 of 243

Storm and Earnings Remain Talking Point

February 17, 2021 by Ed Carter

Markets gapped up one-third to one-half of a percent Tuesday and then ground sideways to down in all 3 major indices. This left us with black-body candles that were flat for the session. For the day DIA led with a gain of 0.17% (another all-time high close) while the SPY (-0.09%) and QQQ (-0.27%) were on the red side of flat. VXX gained a little over a percent to 15.92 and T2122 fell back, but remains just inside the overbought territory at 82.87. 10-year bond yields spiked again to 1.311% (the highest in nearly a year) and Oil (WTI) rose 67 cents to close at $60.143/barrel.

The brutal winter storm continues to be the big news story. Rolling power blackouts (total blackouts in places like parts of TX) and treacherous driving conditions through the Midwest (TX to MN) are having impacts on business we well as people. Among the industries hit are Oil and Gas Fracking, which has halted throughout the Permian Basin due to the inability to ship product. As a result, Nat Gas prices spiked to $999/million BTU for next-day delivery in OK (versus $4.19/million last week). While this is the worst example, other contracts sold at $700, $620, $400, and $275/million at various hubs.

Bitcoin has set another all-time high this morning, almost touching $52,000 as major investment banks and other firms are starting to support the digital currency. Mortgage demand also fell over 5% last week as interest rates are increasing at the fastest pace in months. 30-year fixed rate mortgages now average 2.98%, with new purchase loan applications down 6% on the week.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 28,381,220 confirmed cases and 499,991 deaths. However, the number of new cases continues to fall quickly and is back down to the October level as the average new cases are now 82,841 new cases per day. However, deaths remain at a stubbornly high level of 2,270 per day. The University of Virginia has banned all in-person events after 117 new cases (including many of the UK variant) were reported on their campus yesterday. Even assuming FDA approval, JNJ will be delivering their one-shot vaccine much slower than the government had been led to believe. While 20-30 million doses by April had been expected, an apparent “miscommunication” now leads to an expectation that the number will be less than 10 million doses in that time. However, President Biden promised the country would have enough vaccine by the end of July to vaccinate every American (at least those that will take one).

Globally, the numbers rose to 110,115,976 confirmed cases and the confirmed deaths are now at 2,431,617 deaths. However, the trends are good. The world’s average of new cases continues to fall quickly and is now down to 374,515 per day. Mortality lags but is also falling, now down to 10,630 new deaths per day. South Africa has received its first shipment of the JNJ vaccine and discussions are underway as to whether to restart vaccinations (which were stopped when the MRNA vaccine was found to not work for the South African variant). And in better news, Sri Lanka has reopened their country for tourists without quarantine. However, they want no mingling between visitors and locals (and I have no idea how that would work).

Overnight, the few Asian markets that were open were mostly red. The dramatic outlier was Taiwan (+3.54%), mostly on the strength of TSM (+4.91%). In Europe, markets are mixed, but mostly red so far today. The FTSE (-0.22%), CAC (-0.03%), and DAX (-0.57%) are a typical spread with a few minor exchanges like Belgium and Portugal on the green side. As of 7:30 am, US Futures are pointing toward a flat open. The DIA is barely green (+0.03%), the SPY barely red (-0.02%) and the QQQ just red (-0.19%) at this hour.

The major economic news for Wednesday includes Jan. PPI and Jan. Retail Sales (both at 8:30 am), Jan. Industrial Production (9:15 am), Dec. Business Inventories (10 am), and Release of FOMC Jan. Minutes (2 pm). Major earnings reports on the day include ADI, ATH, CRL, COMM, ENCL, EQT, ES, GRMN, GPC, HSIC, HLT, NI, OC, SHOP, and SAH before the open. Then after the close, ALB, ALSN, AEL, AR, AXTA, BIDU, CF, CAKE, CYH, ET, HLF, IQ, MANT, MOS, NTR, OVV, PXD, RBC, SNBR, SUN, SNPS, TROX, UFPIVMI, and WCN report.

Again, with Congress gone for the week, earnings, economic news, and the winter storm are likely to drive the discussion. The bulls are still in charge of the trend, but it is the wall of worry (about overextension) that guides them, not an all-out bull charge. Be leery of any volatile moves at this point as it may signal exhaustion.

It’s all about achieving trade goals and sticking to your discipline. So, keep locking in your profits when you have them. Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. Just stick with your plans, maintain discipline and work your process. Focus on getting rich slowly and not trying to hit the lottery.

Swing Trade Ideas for your consideration and watchlist: TRV, BA, SBUX, PENN, CCL, X, GOGO, CBAT, IPHI. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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.

Hit and Run Candlesticks / Road To Wealth 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.

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Winter Storm and Earnings Lead News

February 16, 2021 by Ed Carter

Markets were dead most of the day Friday, but a strong rally on volume the last half hour took all 3 major indices on near the highs of the day. This created large-body Bullish Engulfing candles in the SPY and QQQ, while the DIA missed engulfing by 7 cents. On the day, SPY gained 0.51%, QQQ gained 0.56%, and DIA lagged at +0.11%. With that said, all 3 of the major averages closed at another all-time high close. The VXX fell over 3% to 15.74 and T2122 remains well into the overbought territory at 88.11. 10-year bond yields spiked to 1.205% and Oil (WTI) gained almost 2.5% to close at $59.66/barrel.

Also on Friday, ahead of their taking this week off, House Democrats pushed forward the parts of the relief plan that cover the $1,400 direct payments, payments to families with children (up to $3,600/child under age 6), and an extension of unemployment. These portions are out of committee and are still on track to be passed as a single “budget” bill to be reconciled with Senate versions by the end of the month. In unrelated news, President Biden called on Congress to pass “commonsense gun laws” on Sunday. The specifics called for are an elimination of immunity for gunmakers, universal background checks, and a ban on selling “assault-style” weapons and high-capacity magazines. This may well move gun stocks like RGR, SWBI, VSTO, etc.

Interesting news out of oil giant RDS. The Dutch company said on Monday that they believe the world hit “peak oil production” in 2019 with the Covid outbreak accelerating the move away from Oil. In fact, RDS said they main profit center will become liquified natural gas as time moves forward. With that said, the price of oil has hit a pandemic high this this last week, with WTI trading at $61.77 at one point, and is holding above $60 in the winter storm, which theoretically ought to stoke more production. Still, carmakers like GM are fast-tracking the move to electric vehicles with Chevy also adding 2 new electric models to their Bolt line on Monday.

Related to the virus itself, US infections continue to be of concern in the US. The totals have risen to 28,317,703 confirmed cases and 498,203 deaths. However, the number of new cases continues to fall quickly and is back down to the October level as the average new cases are now 87,603 new cases per day. However, deaths remain at a stubbornly high level of 2,481 per day. While new cases are down 62% this week, the CDC also announced Sunday that they have identified 7 new US-originated variants. Still, PFE and MRNA are contracted to deliver another 130 million doses over the next 6 weeks (versus the 70 million that have been delivered so far). So, we may be turning a corner.

Globally, the numbers rose to 109,747,785 confirmed cases and the confirmed deaths are now at 2,420,609 deaths. In good news, the world’s average of new cases is down again to 379,868 per day, but mortality remains high at 11,084 new deaths per day. NVAX announced Monday that the Phase 3 trials for its own COVID vaccine are now fully subscribed. This comes as some countries are easing social distancing measures despite warnings about relaxing too early. The latest to follow this trend are Hong Kong, Netherlands, and Israel.

Overnight, the few Asian markets that were open were mostly green. Japan (+1.28%) and South Korea (+0.52%) led the way. In Europe, markets are mostly modestly green so far today. The FTSE (+0.24%), CAC (+0.05%), and DAX (+0.03%) are a typical spread with a few minor exchanges like Portugal (+1.57%) standing out. As of 7:30 am, US Futures are pointing toward a green open. All 3 major indices are implying a moderate gap higher lower of about +0.55% on average at the opening bell.

The major economic news for Tuesday is limited to NY Fed Empire State Mfg. Index (8:30 am) and a Fed speaker (Daly 3 pm). Major earnings reports on the day include AAP, ALLE, AN, BRKR, CVS, ECL, EXPD, JELD, LPX, TRU, USFD, VMC, and ZTS before the open. Then after the close, A, AIG, ANDE, CAR, BYD, CLR, DVN, MCY, and OXY report.

With Congress gone for the week and limited news today, it looks like the bulls are still in charge. The winter storm gripping most of the country is likely to dominate the news. Even earnings are limited today. So, over-extension seems to be the main thing that might slow the bulls stepping back in after the 3-day weekend.

Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. It’s all about achieving trade goals and sticking to your discipline. So, keep locking in your profits when you have them. Stick with your plan, maintain discipline and work your process. Remember it’s Friday and we have a 3-day weekend coming. So, pay yourself and get your portfolio set for the long weekend.

Swing Trade Ideas for your consideration and watchlist: DAL, HYLN, UAL, VLO, WYNN, PENN, MRVL, ALLY, SOHU. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Little News Now and 3-Day Weekend Ahead

February 12, 2021 by Ed Carter

Markets basically ground sideways on Thursday. The indecisive day left us with black-bodied Doji-type candles. However, even this indecisive trading left all 3 major indices at all-time high closes after a small morning gap higher. On the day, SPY gained 0.16%, DIA gained 0.06%, and QQQ gained 0.55%. The VXX lost a little over 2% to 16.28 and T2122 fell, but remains in the overbought territory at 86.76. Meanwhile, the 10-year bond yield rose to 1.165% and Oil (WTI) fell over a percent to $58.00/barrel.

After the close, DIS crushed on earnings ($0.32 vs. loss was expected) on a major revenue beat due to streaming. MWK did the same. However, both DVA and EXPE missed on both the top and bottom lines.

Bitcoin surged to a new record high Thursday as both MA and BNY joined the move toward acceptance of cryptocurrency. MA had previously partnered with cryptocard providers, but the new announcement was that they will be supporting so-called “stablecoins” which are cryptocurrencies that peg their value to some other asset (such as the dollar). Meanwhile, BNY said it would begin holding, transferring and issuing bitcoin on behalf of institutional customers. Markets saw both announcements as more evidence of the legitimization of bitcoin.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 28,002,240 confirmed cases and 486,922 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 105,798 new cases per day. Still, deaths remain stubbornly high at 2,818 per day. President Biden said Thursday that deals have been inked to provide an additional 200 million doses of the PFE and MRNA vaccines (raising the total order to 600 million doses). More importantly, he said the country was on track to have given 300 million vaccinations by the end of July. In that vein, RAD will begin administering vaccinations today.

Globally, the numbers rose to 108,380,746 confirmed cases and the confirmed deaths are now at 2,380,746 deaths. In good news, the world’s average of new cases is down again to 413,916 per day, but mortality remains high at 11,873 new deaths per day. In France, the Health Minister said that between 20% and 25% of all current cases in that country are of the UK variant. In Germany, they have imposed border checks and outright border closings to prevent mutations from arriving from the Czech Republic, Slovakia, and Tyrol. The UK said its economy contracted 9.9% in 2020 due to the virus and Brexit. However, there was slight hope with the Q4 seeing 1% GDP growth.

Overnight, Asian markets were mostly red, but many markets (and economies) are closed now for the Lunar New Year celebration. India (-1.34%) and Australia (-0.63%) led the way lower. In Europe, markets are mixed so far today. The FTSE (+0.12%) and CAC (+0.06%) are flat, but the DAX (-0.51%) is down with the rest of the continent in a similar situation. Amsterdam (+0.95%) and Denmark (+0.92%) lead gainers while Portugal (-2.46%) and Russia (-1.01%) lead the losses as of midday. As of 7:30 am, US Futures are pointing toward a red open. All 3 major indices are implying a small gap lower of about 0.15% at the opening bell.

The major economic news for Friday is limited to Michigan Consumer Sentiment (10 am) and a Feb. speaker (Williams at 10 am). Major earnings reports on the day include AXL, D, FTS, HUN, LECO, MCO, and NWL before the open. There are no reports after the close.

The Impeachment Trial continues to grab headlines, but with the GOP having decided before the trial that there would be no conviction, it should wind down and possibly end today. Even earnings are limited today. So, the driver of the market today may be trader positioning in front of the 3-day weekend.

Swing Trade Ideas for your consideration and watchlist: ASML, AMAT, MRVL, BYND, SOHU, CX, SPCE. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Earnings and Jobless Claims Today

February 11, 2021 by Ed Carter

Markets gapped up at the open Wednesday, but sold off sharply about 10am and then spent the rest of the day roller-coastering in a tight range the rest of the day. As a result, all 3 major indices printed black-body candles. The QQQ was a sort of Dark Cloud Cover and while the DIA closed at another all-time high close, it printed a Hanging Man candle. On the day, SPY was flat at -0.04%, QQQ was down 0.23%, and DIA gained 0.18%. The VXX gained 1.65% to 16.67 and T2122 also gained further into the overbought territory at 95.83. Bonds fell significantly to 1.124% and Oil (WTI) was flat at $58.35/barrel.

Fed Chair Powell said the US employment situation was bleak, saying the headline jobs number was dramatically understated. He went on to mention the largest drop in workforce participation since 1948. So, he reassured markets that the Fed will remain “patiently accommodative” (because of lessons the Fed learned the hard way in the past) and requested a “society-wide push for full employment (Congress to get Fiscal Stimulus passed again). Despite this calming continuity of message, markets did not have a strong reaction. However, the comments did cause a slump in Treasury yields where an expectation of inflation was muted.

On the earnings front this morning, PEP beat on earnings with a surge in revenue in Q4. As we might expect, AZN posted their highest Q4 sales in many years and beat on earnings as well. TSN beat on earnings, but came in over half a billion light on sales for the quarter. KHC beat on both lines.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,897,214 confirmed cases and 483,200 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 105,798 new cases per day. Still, deaths remain stubbornly high at 2,818 per day. Los Angeles has had to temporarily close all vaccination locations due to a lack of vaccine. This comes as more states are relaxing restrictions, despite the CDC and other health experts warning against relaxing too early.

Globally, the numbers rose to 107,937,567 confirmed cases and the confirmed deaths are now at 2,367,122 deaths. In good news, the world’s average of new cases is down again to 423,410 per day, but mortality remains high at 12,091 new deaths per day. As expected, Germany extended their lockdown to March 7. In the UK, the Gov’t. Science Advisory Group warned that a new “Bristol” variant may well infect people who have have the virus before or been vaccinated. Fortunately, this new variant is not the UK variant that is sweeping the globe, at least yet. Mexico granted emergency use approval for 2 Chinese vaccines. The Eurozone lowered growth forecasts by four-tenths of a percent based on continued drag from COVID restrictions. The still expect positive 3.8% growth in GDP in the next year.

Overnight, Asian markets were mostly green again, but many markets (and economies) are closed now for the Lunar New Year celebration. In Europe, markets are mostly green so far today. The FTSE (+0.05%) and CAC (+0.00%) are flat, but the DAX (+0.49%) is up and is more typical of the rest of the continent. As of 7:30 am, US Futures are pointing toward a flat to modestly higher open. The DIA is implying a +0.24% open, the SPY implying a +0.29% open, and the QQQ implying a +0.41% open at this point.

The major economic news for Thursday is limited to Initial Jobless Claims (8:30 am), Fed Monetary Policy Report (11 am), and US Federal Budget (2 pm). Major earnings reports on the day include AB, MT, AZN, BWA, CIGI, UFS, DUK, ENS, FAF, FMCC, GNRC, HII, NSIT, K, KHC, LH, TAP, NUS, PTAK, PBF, PEP, POOL, QSR, R, SON, TPX, THS, TSN, VNT, WSO, and ZBRA. Then after the close CC, DVA, DLR, EXPE, FLO, GDDY, ILMN, MHK, TEX, DIS all report.

As the Impeachment Trial continues to grab headlines and earnings leads the economic news. However, New Jobless Claims may have an impact this morning. Again, markets look a little tired, but the wall of worry is something the bulls love to climb. So, don’t bet on a pullback until you see it happening.

Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. It’s all about achieving trade goals and sticking to your discipline. So, keep locking in your profits when you have them. Stick with your plan, maintain discipline and work your process. Also, remember we have a 3-day weekend coming. So, we may see some profit-taking the next couple days.

Swing Trade Ideas for your consideration and watchlist: IAG, WYNN, XLE, VLO, AMD, PSX, TSLA, BBBY. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Improving Virus News, Earnings, and Powell

February 10, 2021 by Ed Carter

Markets gapped down and had a tiny follow-through the first few minutes of the day. However, bulls were having none of it and after a tiny rally markets ground sideways to close dead flat. This broke the string of 6 straight higher closes, but only barely and the DIA did eke out a 3-cent gain on the day (whee!). Despite this flat close, the bulls did show some weakness, with higher wicks (QQQ) and Spinning Top candles (SPY and DIA). On the day, SPY fell 0.07%, QQQ fell 0.02%, and DIA rose 0.01%.

However, small-caps diverged as the IWM closed up 0.40% at another all-time high close. The VXX was flat at 16.40 and T2122 fell slightly by remains deep in the overbought territory at 94.65. The dollar fell to a two-week low, which helped boost commodities Tuesday. It didn’t hurt bitcoin either, which traded near $50,000 before backing off to $47,000 at day end. 10-year bond yields fell slightly to 1.16% and Oil (WTI) rose again to $58.30/barrel.

AMZN workers at a warehouse in Alabama are voting (by mail) on whether to form a union. Tensions remain high as the company is staunchly against the move, sending texts, mail, and verbal messages warning workers against the idea. The 6,000 workers have nearly 2 months to cast their votes. Elsewhere, mortgage demand fell again as interest rates rose to a 3-month high. Refinancing fell 4% for the week and new home loan applications were down 5% on the week.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,799,946 confirmed cases and 479,772 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 108,254 new cases per day. Still, deaths remain stubbornly high at 2,905 per day. JNJ’s CEO told CNBC that he thinks people may need an annual Covid-19 booster shot similar to how annual flu shots are recommended…at least for the next few years. In the meantime, the LLY antibody combination treatment received emergency use authorization from the FDA Tuesday night.

Globally, the numbers rose to 107,490,485 confirmed cases and the confirmed deaths are now at 2,353,256 deaths. In good news, the world’s average of new cases is down again to 430,323 per day, but mortality remains high at 12,139 new deaths per day. France has now extended their state of emergency until June. Germany is also set to extend their own lockdown amid fear over the UK and South African variants. In the UK, Transport Minister Shapps said it is far from clear whether UK tourists will be able to travel this summer. Yet in good news, the WHO says that global new case numbers fell 17% last week and a back below 500,000 per day for the first time in many months.

Overnight, Asian markets were mostly green. Hong Kong (+1.91%), Shenzhen (+1.75%), and Shanghai (+1.43%) led the bullish charge. Singapore (-0.32%) was the only appreciable loser on the day. In Europe, markets are mixed, but mostly green so far today on very modest moves. The FTSE (+0.27%), CAC (+0.01%), and DAX (-0.01%) are fairly typical of the modest trading. As of 7:30 am, US Futures are pointing toward a flat to modestly higher open. The DIA is implying a +0.29% open, the SPY implying a +0.33% open, and the QQQ implying a +0.34% open at this point.

The major economic news for Wednesday includes Jan Core CPI (8:30 am), Crude Oil Inventories (10:30 am), the Federal Budget (12:30 pm), Jan. Federal Budget Balance (2 pm) and a Fed speaker (Chair Powell at 1 pm). Major earnings reports on the day include BG, CDW, CME, KO, DBD, EEFT, GM, IPG, IQV, PAG, TMHC, TEVA, TM, and UAA before the open. Then after the close, ATUS, ASGN, BHF, CERN, CINF, DCP, EFX, EQIX, IFF, LUMN, MGM, MOH, ORLY, SSNC, TRMB, UBER, WU, XPO, ZG, Z, and ZNGA report.

As the Impeachment Trial continues to grab headlines, earnings and a speech by Fed Chair Powell are likely the strongest market drivers on the day. So far, KO beat on earnings and fell short on sales, UAA reported an unexpected profit, and PAG reported a blowout quarter this morning. However, GM warned that the current global chip shortage could reduce its 2021 earnings by $2 billion. It appears bonds and the dollar are waiting to hear from Chair Powell before they take a direction today.

The market looks toppy here. However, nobody ever built a career by picking reversals…so don’t do it. Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. Keep locking in your profits when you have them. It’s all about achieving trade goals and sticking to your discipline. Our job is to produce consistent gains…not catch lightning in a bottle. So, stick with your plan, maintain discipline and work your process. Also, remember that it’s Friday…and Friday is payday. So, don’t forget to take some profits off the table to pay yourself ahead of the weekend.

Swing Trade Ideas for your consideration and watchlist: ORCL, SOLO, BABA, BA, MOMO, ZM, CRBP. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Bulls Keep Running and TSLA Bets Bitcoin

February 9, 2021 by Ed Carter

Markets gapped higher for the sixth day in a row and after a little volatility, the bulls took over to close us near the high in all 3 major indices. The large-dap indices printed large-body, white bullish candles and the QQ printed a white Hanging Man type. On the day, the SPY gained 0.72%, the DIA gained 0.75%, and the QQQ gained 0.67%. As a result, all 3 major indices closed at yet another all-time high close, which also marked the strongest run since August. The VXX lost about a percent to 16.33 and T2122 climbed even further into the overbought territory at 97.34. 10-year bond yields rose again to 1.176% and Oil (WTI) jumped 2.2% to $58.10/barrel.

In an interesting twist, TSLA disclosed in a filing that it has purchased $1.5 billion in bitcoin, in order to provide it with the liquidity to begin accepting bitcoin as a payment method. TSLA CEO Elon Musk also added the hashtag #bitcoin to his TWTR bio. These moves helped drive bitcoin to an all-time high of $44,000 on Monday.

Airline stocks also got a boost as documents revealed the Democratic relief plans should include $14 billion in aid for the industry. This comes a day after CNN reported that despite demanding relief, the airline industry had over $31.5 billion of cash on their balance sheets to end Q4. Another piece of the Democratic package is a $3,000/child ($3,600/child under 6) child credit to be paid to families by the IRS in monthly installments. It’s worth noting that votes on the various pieces of the Biden package begin in Committees on Tuesday.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,700,629 confirmed cases and 476,405 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 110,694 new cases per day. Still, deaths remain stubbornly high at 2,954 per day. New Sec. of Transportation Buttigieg says that the US is considering testing requirements for domestic air travel. CDC Director Walensky said that would be helpful, but stopped short of calling for such a plan. At the opposite end of the political spectrum Iowa’s Governor lifted the state’s mask mandate without even consulting her own health officials. Finally, as of now, just under 10% of the US populations has received at least one vaccine shot.

Globally, the numbers rose to 107,079,812 confirmed cases and the confirmed deaths are now at 2,338,319 deaths. In good news, the world’s average of new cases is down again to 438,996 per day, but mortality remains high at 12,322 new deaths per day. WHO researchers that have now toured and analyzed Chinese sites say COVID-19 is very likely to have come to humans through an intermediary species, but could not be sure what kind of animal. They also reported that the first cases at the Wuhan Seafood market very likely took place in early December, but were first identified as a non-flu virus at the end of December. This coincides with what was believed before and with the Chinese narrative.

Overnight, Asian markets were mixed but mostly green. Shenzhen (+2.43%) and Shanghai (+2.01%) were positive outliers, buoyed by both economic data and the release of WHO findings not being shocking. Australia (-0.86%) was an outlier to the downside. In Europe, markets are mostly red so far today on tepid trading. The FTSE (+0.04%) and CAC (+0.03%) are just on the green side of flat while the DAX (-0.40%) is modestly lower and more indicative of the rest of the continent. As of 7:30 am, US Futures are pointing toward a flat to modestly lower open. The DIA is implying a -0.17% open, the SPY implying a -0.12% open, and the QQQ implying a -0.07% open at this point.

The major economic news for Tuesday is limited to Dec. JOLTS (10 am) and a Fed speaker (Bullard at noon). Major earnings reports on the day include ARMK, AVYA, CARR, CNC, COTY, DD, FIS, FSV, FOXA, IT, GT, HBI, IIVI, INCY, JLL, LCII, MLM, MAS, SPGI, TDG, VSH, WCC, and WLTW all before the open. Then after the close, AMRK, AKAM, AIZ, CSCO, CCK, FISV, FMC, GPRE, MAT, NCR, NGL, OI, PAA, PAGP, REYN, THC, TWTR, and WELL report.

After the recent strong bullish run, markets are extended and need some rest. So far this morning, it looks like they may get it with a flat to mildly lower open. With very little economic or stimulus news expected and focus shifted to the Trump Impeachment Trial, it will be up to earnings to push. However, a lack of reason has never stopped the bulls before. So, don’t just expect a pullback. Wait to see it actually happening. The trend still favors those bulls.

Remember, nobody ever sustained a career by picking reversals…so don’t do it. Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. Keep locking in your profits when you have them. It’s all about achieving trade goals and sticking to your discipline. Our job is to produce consistent gains…not catch lightning in a bottle. So, stick with your plan, maintain discipline and work your process. Also, remember that it’s Friday…and Friday is payday. So, don’t forget to take some profits off the table to pay yourself ahead of the weekend.

Swing Trade Ideas for your consideration and watchlist: BLFS, CMCSA, ZM, GE, MU, INTC, VIAC. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Stimulus a Done Deal but Min Wage Iffy

February 8, 2021 by Ed Carter

Markets gapped up about half a percent Friday to new all-time highs, but then put in indecisive action, undulating sideways the rest of the day. This left the QQQ with a gap-up Doji and both large-cap indices with gap-up, black-body spinning tops. As a result, the SPY and QQQ closed at all-time high closes and the DIA just missed. On the day, SPY gained 0.39%, QQQ gained 0.34%, and DIA gained 0.28%. This made for a big week and the longest winning streak since late August. The VXX was flat at 16.47 and T2122 (4-week now high/low ratio) rose further into the overbought territory at 93.33. 10-year bond yields rose significantly to 1.169% and Oil (WTI) rose about half a dollar to $56.85/barrel.

On the relief plan front, over the weekend President Biden said he believed the increase to a $15/hour minimum wage would not survive the reconciliation process. In related news, Senator Sanders said he opposes the tightening of eligibility for a $1,400 stimulus check (opposes tightening the income cap). Sunday Treasury Sec. Yellen told CNN that passage of the $1.9 trillion relief package could return the US to full employment in 2022. This came in response to former Treasury Sec. Summers raised questions over whether additional stimulus in that amount might cause a stock market bubble and bring inflation faster.

In regulatory filings Monday, Hyundai and Kia said they are not in talks with AAPL to make the autonomous “Apple Car.” The companies said they have gotten requests from multiple companies to partner on autonomous, electric vehicles, but no partnerships have been decided this early. Those South Korean stocks fell sharply on the news, but the announcement may have a follow-through effect even on AAPL. This may also be fallout from AAPL not being pleased that their secrecy was breached by earlier reports that AAPL was working with those two companies on the project.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,611,403 confirmed cases and 474,933 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 116,256 new cases per day. Still, deaths remain stubbornly high at 3,020 per day. A study published Sunday found that the number of UK variant cases is doubling in the US every 10 days. This coincides with the CDC model predicting it will be the most prevalent Covid-19 mutation in the US by March. Later in the day, President Biden answered CBS a reporter by saying that it will be very difficult to reach herd immunity by the end of summer.

Globally, the numbers rose to 106,751,887 confirmed cases and the confirmed deaths are now at 2,328,753 deaths. In good news, the world’s average of new cases is down again to 446,334 per day, but mortality remains high at 12,394 new deaths per day. Early data suggests the AZN vaccine offers only minimal protection against the South African variant (after 2 doses), even among young healthy adults, according to a study co-authored by Oxford University. The good news is that Oxford also said a new vaccine to tackle the South African variant should be in the autumn. In the meantime, South Africa has suspended AZN vaccinations.

Overnight, Asian markets were mostly green. The only significant loss was in South Korea (-0.94%). Meanwhile, Japan (+2.12%), India (+1.28%), Shenzhen (+1.21%), and Shanghai (+1.03%) led the gainers. In Europe, we see a similar story taking shape as only Denmark is in the red at this point. The FTSE (+1.01%), CAC (+0.71%), and DAX (0.26%) are typical of the bullish movement on the continent so far today. As of 7:30 am, US Futures are pointing toward a modestly green open. The DIA is implying a +0.40% open, the SPY implying a +0.32% open, and the QQQ implying a +0.28% open at this point.

There is no major economic news scheduled for Monday. Major earnings reports on the day include CNS, ENR, GTES, GPN, and HAS before the open. Then after the close, ACM, AMKR, BECN, BAP, KKR, LEG, OMF, RGA, SPG, TTWO, and TFII report.

With Stimulus now a done deal, the focus turns to whether any horse-trading can bring any Republicans onboard. However, that story really only has the day to play out as eyes will turn to the Impeachment Trial of ex-President Trump on Tuesday. Just more political theatre as GOP Senators have already voiced that they will not convict him. Earnings will be the other driver this week, but today is a relatively light day. At any rate, coming off the best week since November and with Futures pointing up this morning, the bulls have the upper hand.

Swing Trade Ideas for your consideration and watchlist: ABT, STX, CLF, GILD, NKE, ORCL, BOOT, KO, OSTK, SNAP, ZM, TGTX, MO, BCLI, SCHW, CAT. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Stimulus Heads to Reconciliation

February 5, 2021 by Ed Carter

Markets gapped modestly higher at the open Thursday. Then the bulls stepped in for a morning rally. Most of the day saw a grind sideways and then bulls made a push at the end of the day. As a result, the DIA printed a White Marubozu (Shaved Head) candle and the other two major indices printed large white candles themselves. All 3 closed at the highs of the day. So, on the day SPY gained 1.14% (closing at an all-time high), DIA gained 1.11%, and QQQ gained 1.18% (also closing at a new all-time high close). The VXX lost over 4% to 16.50 and T2122 rose deeper into overbought territory to 89.58. 10-year bond yields remains essentially flat at 1.136% and Oil (WTI) rose again to $56.23/barrel (over a 12mo. high).

After the close, Senate Republicans are announcing dozens (hundreds?) of amendments to the budget bill (relief package). These seem to be being offered as amendments as a way to force the process to vote on the amendments in hopes that it will fracture Democratic solidarity and/or force an item-by-item vote that can be used in later campaigning. However, the Senate plowed ahead along party lines to pass the budget bill. So, now reconciliation between the House and Senate versions begins and the package is still on track for signing before the current relief bill expires March 15.

After a meeting with Treasury Sec. Yellen on Thursday, the SEC and CFTC agreed to a timely study of the situation, including trading practices and the actions by brokers that temporarily prevented buying and forced selling of some tickers. However, they also made a boilerplate statement that “the infrastructure of the stock and commodities markets remains resilient, even during periods of extreme volatility.” In related news, it was revealed that the CEO of Robinhood is not licensed by FINRA. In other related news, the high-frequency trading firm Citadel sued the SEC to get the D-Limit method used by the IEX exchange (intended to discourage predatory front-running) prohibited. (In other words, they don’t want anything to prevent them front-running orders.) This is related because Citadel accounts for 40% of Robinhood’s revenue.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,273,890 confirmed cases and 466,988 deaths. However, the number of new cases continues the recent trend of falling quickly and is back down to the pre-election level as the average new cases are now 129,894 new cases per day. Still, deaths remain stubbornly high at 3,100 per day. JNJ asked the FDA for emergency approval for their COVID-19 vaccine (66% effective, but requires only one shot). Then Thursday night, one of the Biden COVID advisors told CNBC that the 3 main mutations (UK, South Africa, and Brazil) may evade the immune response created after vaccinations with at least the two existing US vaccines (PFE and MRNA). White House Chief of Staff Klain said they hope to revive a Trump Administration idea that never got off the ground. That being the mailing of masks to all Americans. The original idea was scrapped because of the previous Admin’s fear it might cause “concern or panic.”

Globally, the numbers rose to 105,506,871 confirmed cases and the confirmed deaths are now at 2,296,567 deaths. In good news, the world’s average of new cases is down again to 485,014 per day, but mortality remains high at 12,969 new deaths per day. Countries are beginning to work on “Vaccine Passports” in many countries. Sweden is the latest of the EU nations who announced they are working on such a plan with hope of implementing it in the summer. The UK has announced it will implement mandatory hotel quarantine for incoming travelers from 33 “red list” countries as of mid-February. (The US is not on the list as of now.)

Overnight, Asian markets were mixed, but mostly green. The only loses were in Shanghai (-0.16%), Shenzhen (-0.88%), and Malaysia (-0.40%). The rest of the region was strongly in the green with Japan (+1.51%), Australia (+1.11%), and South Korea (+1.07%) leading the way. In Europe, a similar story is taking shape as the bulls are in charge in all but 3 exchanges. The FTSE (+0.09%) is flat, DAX (+0.29%) up modestly, and CAC (+1.11%) leading the charge. As of 7:30 am, US Futures are implying a moderate gap higher at the open. DIA is implying +0.47%, SPY implying +0.49%, and QQQ implying +0.37%.

The major economic news for Friday includes Jan. Avg. Hourly Earnings, Jan Nonfarm Payrolls, Jan Participation Rate, Dec. Trade Balance, and Jan Unemployment Rate (all at 8:30 am). Major earnings reports on the day include ADNT, AON, BERY, CAH, EL, HRC, ITW, LAZ, LIN, REGN, SNY, SPB, TT, and ZBH all before the open. There are no earnings reports after the close.

With Stimulus now a done deal, the focus turns back to earnings, and the recent so-called social-media volatility. It is worht noting that CNBC is reporting that the recent short-squeezes may not have been as much due to retail traders as had been thought. No exact numbers were given, but insitutional volume in those names apears to be significant. That said, we know it was likely the retail player who bore the brunt of being left holding the bag during this week’s 80% selloff in GME. At any rate, earnings have been better than expected so far this cycle (on average) and with vaccinations now gathering steam, there is a hope for returning to normal again by the summer. That optimism has spilled into markets as the bulls have the momentum again.

Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. Remember, nobody ever sustained a career by picking reversals…so don’t do it. Keep locking in your profits when you have them. It’s all about achieving trade goals and sticking to your discipline. Our job is to produce consistent gains…not catch lightning in a bottle. So, stick with your plan, maintain discipline and work your process. Also, remember that it’s Friday…and Friday is payday. So, don’t forget to take some profits off the table to pay yourself ahead of the weekend.

Swing Trade Ideas for your consideration and watchlist: No trade ideas for Friday. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Earnings, Stimulus and Yellen Top News

February 4, 2021 by Ed Carter

The large-caps opened more or less flat and the QQQ gapped higher on the AMZN and GOOGL earnings from Tuesday night. After the open, the large-caps ground sideways most of the day and the QQQ sold off. This left the QQQ printing a Dark Cloud Cover candle while the SPY and DIA both printed indecisive Spinning Top or Doji candles. On the day, SPY was up 0.08%, DIA was up 0.12% and QQQ fell 0.40%. VXX fell over 5% to 17.25 and T2122 stayed in the overbought territory at 88.66. 10-year bond yields were strongly higher, closing at 1.139% and Oil (WTI) rose almost 2% to $55.82/barrel.

On the stimulus front, President Biden stuck to his guns on the need for a $1,400 additional relief check. However, he also said he was open to narrowing the number of people who qualify for a check. For their part, Congressional Democrats continue to move forward with the House passing its version of the plan (budget) Wednesday and the Senate voting on it Thursday. That is expected to pass on party lines and then reconciliation will proceed. Related to market volatility, the President has instructed Treasury Sec. Yellen to call all the regulators together to make sure consumers (retail traders) are not being abused by the brokerages limiting trading and forcibly selling margin-bought shares of the Reddit-push short-squeeze tickers.

In business news, AAPL is close to finalizing a deal with Hyundai-Kia to manufacture the future (2024, though it may well be pushed back) “Apple Car.” This has been a surprising potential partnership as Hyundai-Kia has always been at best a mid-market brand while AAPL has always positioned their brand as luxury and high-end. Elsewhere, MRK CEO announced he will retire effective June 30. In the airline industry, AAL has now warned 13,000 employees and UAL warned 14,000 that they may be furloughed again if federal aid ends on March 31 as is now planned. The airline industry is seeking $15 billion in additional aid to ensure jobs through September.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,150,457 confirmed cases and 461,930 deaths. However, the number of new cases continues the recent trend of falling and is back down to the pre-election level as the average new cases are now 136,003 new cases per day. Deaths are falling too, but still semain stubbornly high at 3,151 per day.

Globally, the numbers rose to 104,993,331 confirmed cases and the confirmed deaths are now at 2,280,652 deaths. In good news, the world’s average of new cases is down again to 496,969 per day (first time below 500k since October), but mortality remains high at 13,288 new deaths per day. In the UK, a trial is underway to mix the first and second doses of vaccine (for example PFE first shot, MRNA second shot) in an effort to see if more flexibility is possible, which would aid supply chain problems.

Overnight, Asian markets were mixed, but mostly red. South Korea (-1.35%), Shenzhen (-1.16%), and Japan (-1.06%) led the losses. However, India (+0.71%) and a few of the smaller markets were in the green. In Europe, markets are mixed on modest moves at midday. The FTSE (-0.39%) is down, while the DAX (+0.27%) and CAC (+0.20%) are modestly up at this point. As of 7:30 am, US Futures are pointing toward a modestly up open. The DIA (+0.04%) and SPY (+0.12%) are just on the green side of flat, while the QQQ (+0.43%) is implying a modest gain on the open.

The major economic news for Thursday includes Weekly Initial Jobless Claims, Q4 Nonfarm Productivity, and Q4 Unit Labor Costs (all at 8:30 am), Dec. Factory Orders (10 am) and a Fed Speaker (Daly at 2 pm). Major earnings reports on the day include ABB, AGCO, APD, ALXN, ABC, AME, ARW, BLL, BSAC, BAX, BCE, BDX, BMY, CI, CLX, CMS, CMI, GPI, HSY, ICE, IP LEA, MRK, NOK, ODFL, PH, BTU, PENN, PM, DGX, RL, SNA, TPR, TKR, WEC, XYL, and YUM before the open. Then after the close, ATVI, CSL, CCS, COLM, DECK, DXC, F, FTNT, FTV, GILD, HIG, HUBG, LPLA, MTD, MCHP, MSI, NOV, OTEX, PTON, PFSI, POST, PRU, SKX, SNAP, TMUS, UNM, and YRCW all report.

Once again, earnings and business news are back to leading the news. That’s a good feeling. However, stimulus and vaccine news still can have some sway. With surprisingly good earnings reports so far this cycle, there is a lot of optimism for the future in the market. We’re not out of the woods, so beware of volatility. However, things look a lot more constructive than they have in a long time from an economic standpoint.

Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. Remember, nobody ever sustained a career by picking reversals…so don’t do it. Keep locking in your profits when you have them. It’s all about achieving trade goals and sticking to your discipline. Our job is to produce consistent gains…not catch lightening in a bottle. So, stick with your plan, maintain discipline and work your process.

Swing Trade Ideas for your consideration and watchlist: OSTK, BABA, WK, FOXF, FFIC, XES, VIAC, RIG, COMM You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching

Earnings and Bezos Plans to Step Down

February 3, 2021 by Ed Carter

Markets gapped up Tuesday and then put in a little morning rally as the bulls got on a run. However, the afternoon was a sideways grind and a selloff the last hour left us with upper wicks. The SPY put in a Spinning Top candle while the others printed large body with good sized upper wick candles. On the day, SPY gained 1.33%, DIA gained 1.59%, and QQQ gained 1.63%. The VXX fell 8.5% to 18.19 and T2122 rose well into the overbought territory at 89.77. 10-year bond yields rose significantly as money moved out of bonds ending at 1.096% and Oil (WTI) gained about 2.5% to $54.87/ barrel (the highest level since early March of 2020).

The social media short squeeze seemed to fall apart Tuesday as GME gapped down and the sellers piled in causing in a 60% loss on the day (after losing 31% on Monday). AMC saw similar action, losing over 41% after a big black candle of its own from the prior day. Silver suffered a similar reversal. So, the crusaders that were not quick and had not taken profits likely got hammered by the gaps and then also learned the lesson of discipline if they held hoping for a recovery.

After the close, major tech earnings announcements set the table for tomorrow. Among these are the Jeff Bezos is stepping down as CEO of AMZN, with his replacement taking over during Q3. This came after AMZN reported its first $125 billion revenue quarter and doubled earnings estimates ($14.09/hare vs. $7.16/share est.). GOOG also beat on the top and bottom lines In non-tech earnings, XOM more than tripled the analyst’s estimates, coming in a 3 cents per share with an average estimate of 0.9 cents expected.

Related to the virus itself, US infections continue to rage as the US. The totals have risen to 27,027,430 confirmed cases and 457,868 deaths. However, the number of new cases continues the recent trend of falling and is almost back down to the pre-election level as the average new cases are now 142,524 new cases per day. Still, deaths remain stubbornly high at 3,179 per day. The White House COVID Response team announced they will begin shipping vaccines directly to 6,500 retail pharmacies (CVS and WBA) on Feb. 11. Coupled with the rapidly declining trend of new cases this offers considerable hope for Spring.

Globally, the numbers rose to 104,485,479 confirmed cases and the confirmed deaths are now at 2,265,049 deaths. In good news, the world’s average of new cases is down again to 512,467 per day, but mortality remains high at 13,716 new deaths per day. The WHO reported that there has been a 13% decline in new cases globally from last week. Mexico has approved the use of the Russian Sputnik vaccine. In India, a survey has found that over 56% of the city’s population has had COVID-19, based on estimates from 28,000 samples. That is a lot of cases considering the city 30 million residents and the Indian national case count is reported at only 10 million.

Overnight, Asian markets were mixed but mostly green. South Korea (+1.06%), Japan (+1.00%), and India (+0.97%) led the way. Meanwhile, China saw losses with Shenzhen (-0.87%) and Shanghai (-0.46%) paces the fall. In Europe, markets are mostly green so far this morning. The FTSE (-0.02%) is flat, while the DAX (+0.51%) and CAC (+0.25%) are modestly higher. As of 7:45 am, US Futures are pointing to a modestly green (and varied) open. The DIA is flat at +0.01%, the SPY implying +0.32%, and the QQQ implying +0.60% at this point.

The major economic news for Wednesday includes Jan. ADP Nonfarm Employment (8:15 am), Jan. Services PMI (9:45 am), Jan. ISM Non-Mfg. PMI (10 am), Weekly Crude Oil Inventories (10:30 am) and 4 Fed speakers (Bullard at 1 pm, Harker at 2 pm, Mester at 5 pm, and Kaplan at 6:05 pm). Major earnings on the day include ABBV, APTV, AVY, BIIB, BSX, CPRI, CNHI, EDP, HWM, HUM, LAD, MKL, PFGC, SC, SNDR, SMG, SNE, and SPOT all before the open. Then after the close, AFL, ALGN, ALL, UHAL, AFG, AVTR, CHNG, CTSH, CTVA, EBAY, ECHO, ENSG, THG, HI, IAC, KLAC, LNC, MET, MUSA, PYPL, QRVO, QCOM, VVV, and YUMC report.

Earnings will again lead markets today with the digestion of Jeff Bezos stepping down at AMZN and strong earnings from GOOG and AMZN also still being digested. The volatility caused by the social media short squeeze may have run out of steam. However, earnings offer their own kind of volatility. So, continue to be careful.

Remember to keep locking in your profits. Follow the trend, respect support and resistance levels, and don’t chase the moves you missed. It’s all about achieving trade goals and sticking to your discipline. Remember, our job is to produce consistent gains…not catch record-breaking one-day moves. So, stick with your plan, maintain discipline and work your process.

Swing Trade Ideas for your consideration and watchlist: Rick is under the weather, so no Trade Ideas for today. You can find Rick’s review of tickers on his YouTube Channel here. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 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

Hit and Run Candlesticks / Road To Wealth 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 Plans • Private 2-Hour Coaching