A close over the T-Line today would be the 15th-day price action has to lead the T-Line into bullish battle. Price has tightened up the last three days, the Doji yesterday is the smallest of the 3 and yesterdays low was higher then Wednesdays candle. The past three candles have also had slide into last weeks support area. This week the sellers have tried to push the buyers into a hole but have failed thus far, the buyers have hung on tight to the road traveled from the December lows. A strong bull will be wanting $266.50 followed by $270.50 a strong bear will want $258.60 followed by $255.65. The VIX-X price action has failed to close above the 50-SMA after a minor challenge. But the bottom building is possible and real.
Friday is a good day to collect a fw of those profits and take a few loss if needed. It’s kinda scary holding too much over the weekend with all the political BS and the unknown. Good trading to all and have a great weekend.
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Buyers are holding off the sellers in this bullish pullback. The SPY printed another lower low yesterday, and then the buyers stepped over the sellers closing well above the low. The price action of the SPY is flirting with-testing the 50-SMA and the $258.60 support area, what I would call a bullish pullback. Here is why I think the bullish pullback is good for the overall market, let’s look at the past five candles. The past five candles are drawing what could be a bullish continuation pattern, of course, it is based on the buyers holding support. If the bullish continuation pattern pans out the next target area would be about $270.50. And if the sellers walk all over the buyers $255.65 and $251.40 will be in the cards.
Notice how price action is trending above the T-Line and the Red/Green Dottrend in the chart below, we will remain cautiously bullish until we see a compelling bearish candlestick pattern with follow-through the breaks the bullish trend.
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DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
The trade war with China set off a little selling yesterday bringing in fear to the market, as stated yesterday we are cautiously bullish. As you can see from the 4-hour chart, the trend went from red to green. Price has followed the green dot trend challenging the Dotted Duece. Yesterdays fear brought in what looks like normal profit taking down to a minor support line and still above the $258.40 support line. With price closing above the $258.40 trend line and the Red/Green Dot trend, we will remain cautiously bullish until we see a compelling bearish candlestick pattern with follow-through the breaks the bullish trend.
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VIX–X Chart – The Vix chart became a little bullish yesterday, and we are watching it like a hawk. If we see Bullish follow-through from the Morning Star signal printed yesterday, we will reevaluate ous trades and look at shorts/Puts
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Last week on the daily chart the SPY broke through the 50-SMA and the following day price action produced bullish follow-through. As of Friday we have had an 11-day bullish T-Line Run showing the strength and determination of the bulls. Both the Dotted Duece and 200-SMA are just above for the bulls to take.
The weekly Candleless chart the 3-EMA is just now coming up to meet the T-Line (8-EMA), and both the 34-EMA and 50-SMA are still in bear territory. Over the years of trading, I have learned to respect the T-Line trend and how price action and other moving averages act around it. The daily chart has cut through the first layer of the resistance skin and is suggesting a good bullish trend working its way back up through the 50SMA while price moves up and down as it should. The week chart 3-EMA still lags below the T-Line. (Cautiously Bullish)
VIX–X Chart – 15-candles below the T-Line, Doji close Friday on the 200-SMA. The T2122 chart closed Friday at 99.27
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DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
Here are a few stats from our Day Trading Division yesterday 1/17/19 (TopGun Day Trading). AA -$120.00 • AA trade $225.00/2-days •AA trade $183.00 • SQ trade +100.00 • MTCH trade $40.00 for a total $428.00. Steve Risner resides in Florida and heads up our Day Trading Division Trading Room 5-days a week. Steve shares his trades and day trading knowledge with fellow traders.
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Bullish Wall Of Worry
The bullish wall of worry can be taxing for swing traders. Here at Hit and Run Candlesticks, we help with that navigation. The SPY is challenging the 50-day SMA and the 50% retracement of the October 2018 highs and the December 2018 lows. The bullish challenge thus far has been successful with price action and a bullish T-line Run working quite nicely together. The next challenge for the SPY will be in the $270 – $274 area. I continue to watch and manage the charts and our profits like a Hawk as price navigates through this minefield of resistance.
VIX–X Chart – We are watching the CBOE Market Volatility Index for signs of fear or the lack of. As of yesterday, the fear is low as the price action is approaching the 200-SMA. The 200-SMA could start a small fear movement, Note the TC2000 / T2122 chart is now pegged at 99.04
HRC Watch-list Trade-Ideas – No trade Ideas on Fridays, Enjoy a few profits! Past performance does not guarantee future.
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Road To Wealth Coaching Looking for extended coaching? Serious out trading? Work with Rick Saddler on a daily basis. Read More
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
The SPY holds its bullish trend from it’s December low, and the tug-a-war between the buyers and sellers is hot and heavy. Yesterday’s price action did fail to show strong follow-through after the Morningstar Signal and did not close above its 50-SMA. But price remains in a T-Line trend and above the $256.40 support line. Readers of this blog should know we have had a concern about the resistance starting about $258.00. While price is currently battling resistance; price is also managing the trend. Overall we will remain cautiously bullish above $256.40, and below $256.40 we would watch for a test of the $250.30 area.
VIX–X Chart – Yesterday’s Bullish Engulf following a Doji closing in on the 200-SMA is a clue to be a little cautious as the sellers may try to put together an attack to regain the T-Line. Also, note the TC2000 / T2122 chart is pegged at 97.46. Stay sharp and respect the charts.
HRC Watch-list Trade-Ideas – WYNN, GE, CRON, AMRN, URI, CIEN, TWLO, LGIH. We cover the trade details each morning starting at 9:10 am Eastern in the HRC trading room and throughout the day. Trade-Ideas posted today may not trigger today or any other day. The key to trading is understanding how to trade. A trade alert means nothing without the education. Past performance does not guarantee future.
Real-Time Market Scanner
Built-In (Included) Scan Definitions. Bullish and bearish, Continuation, moving average crossovers and bounces. (RBB) Rounded Bottom Breakout alerts, intra-day, daily and weekly, Candlesticks stick signals and more. Scan Definitions- Download FREE
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Right Way Options Room Update – The RWO trading room is now open all day to share ideas and watchlist suggestions. Watch and learn from Doug as he prepares and explains his trades. Learn More about Right Way Options – Read More
Top Gun Day Trading Room is for the active day/scalp trader looking to profit daily with no overnight risk. Daily trade alerts and trading education. Read More
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
SPY, to challenge the 50-SMA on SPY? The slow grind wall of worry is working slowly but surely. Price action seems determined to challenge the 50-SMA after the December low followed by a High/Low – Higher/high and a successful challenge of the 34-EMA. Yesterday markered the 5th green bullish bar based on our 17-EMA red-green tracking line. Yesterdays Bullish Morning star is suggesting the buyers want to challenge the 50-SMA. At $258.00 the SPY entered a resistance minefield for the bulls to navigate.
VIX–X Chart – The price
action trend is still down and no fear as of yet. Stay on your toes.
HRC Watch list additions – CHK, WLL, FTNT, ROKU, BDX, EBAY, SQ, MS. We cover the trade details each morning starting at 9:10 am Eastern in the HRC trading room and throughout the day. The key to trading is understanding how to trade. A trade alert means nothing without the education. Past performance does not guarantee future.
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Built-In (Included) Scan Definitions. Bullish and bearish, Continuation, moving average crossovers and bounces. (RBB) Rounded Bottom Breakout alerts, intra-day, daily and weekly, Candlesticks stick signals and more. Scan Definitions- Download FREE
The LTA – Live Trading Alert Program is software that runs independently of any charting programs, an in real time finds chart setups. Hi, this is Rick Saddler founder of Hit and Run Candlesticks, as you know I have been using a live scan most of my trading career. It wasn’t until after I started to use the scanner that I became successful. Some people even say I am one of the best directional swing traders they have ever seen, that just not true; it’s because of the Live Scanner and what it does for me. It would be very hard for me to give up the scanner and believe every trader that wants to succeed needs to consider this tool.
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Hit and Run Candlesticks – Join Rick Daily in trading room #1 membership required. Join in, ask questions and learn how Rick picks his trades and trades them. 2018 account + 307% starting with only $5,100. Become a member of Hit and Run Candlesticks and let’s bring on 2019 Read More
Right Way Options Room Update – The RWO trading room is now open all day to share ideas and watchlist suggestions. Watch and learn from Doug as he prepares and explains his trades. Learn More about Right Way Options – Read More
Top Gun Day Trading Room is for the active day/scalp trader looking to profit daily with no overnight risk. Daily trade alerts and trading education. Read More
DISCLAIMER: Investing/ Trading involves significant financial risk and is not suitable for everyone. No communication from us should be considered as financial or trading advice. All information provided by it and Run Candlesticks Inc, its affiliates or representatives is intended for educational purposes only. You are advised to test any new approach before implementing it. Past performance does not guarantee future results. Terms of Service
