Hit & Run Candlesticks – Your Road To Wealth
Rick’s Trading Blog May 120, 2026
Current Outlook: 🟢 Buyers are waking up
The bulls took a short nap, but they look ready to wake up. With futures pointing higher, the SPY is making a run to climb back over the 8 EMA (T-Line). Meanwhile, our Trendicator Trend has held up beautifully, maintaining its bullish stance.
All eyes are on NVIDIA (NVDA) earnings, which will undoubtedly dictate market direction over the next few days. The rumor mill says they’ll beat, but as always, the forward guidance is what really matters.
Individual Stock Highlights
- Target (TGT): Reported strong earnings this morning. If $TGT can hold above its current downtrend line, my next target is $140.00.
Technical Breakdown
- T-Line (Daily): With futures pushing up, there’s a strong chance the bulls recapture the T-Line today.
- T-Line (60-Minute): The bulls have already taken back the T-Line on the hourly chart. The 50 SMA is the next hill to conquer.
- T2123 (Hi-Lo Index): Still flashing a bearish reading, reminding us that broader market internal strength remains weak.
- T2108 (T2108 Indicator): Currently sitting below 40%, meaning fewer than 40% of stocks are trading above their 40-day moving average. This underlines the lack of broad market participation.
The SPY and QQQ have successfully held the Trendicator over the last few days, keeping that specific trend firmly bullish. However, the DIA, IWM, and RSP have done some damage to their respective trends, meaning they have some structural work to do before a full repair is in place.
Keep in mind that NVIDIA (NVDA) reports earnings after the bell today, and the results will likely have a major say in whether the rest of the market catches up or drags lower.
Above all else: Trend and Price are the ultimate leaders. Follow the leaders and let the charts guide your risk.
Follow the leaders and trade smart. I will be looking to make most of my buys in the late afternoon to ensure both the broader market and the specific stocks I’m tracking are still in a firm, bullish mood before locking in a position.
As always: take profit into strength and reload on pullbacks. Know your targets’ goals.
Above all, always have a plan. The Road to Wealth plan has proven its worth over the years—stick to the rules, trust the process, and let the setups come to you.
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Current Portfolio Status: BULL, SMCI, ORCL, TSLL, SLV, CRCL, SLB, IREN, HOOD,
Closed: GEO 62% gain, Fig 29% Gain, NVDA 44% gain AAPL 22% gain, TSLL 40% gain, CRML 27% gain, INTC 32% gain, NOK 58%, 2/3 CRML 27% gain, WMT 35% GAIN, IREN 23% gain, OKLO 32% gain, PTON 4% gain, Z 22% gain AAPL 50% gain, SOFI 50% gain, OKLO 40% gain, BABA 44% gain, HIMS 46.5% gain, ORCL 20.5%, 1/2 SOFI 17.5%, U 22% gain, ORCL 34.5% gain, MRVL 30% Gain, ARM 42% gain, Closed 1/2 NFLX 40% gain, 1/2 NOK 19.5% gain, NOK 28% gain, ACHC 12% gain
Stocks of Interest:
IREN, PALL, SLV, RDDT, DXYZ, GOOG, MAGS, POET, TSLA, MSFT, HOOD, AMZN, ETSY, NOK, BB, PSX, WMT, CSCO, SBUX, NEE, CNC, LAR, UEC, URA, CCJ, UROY, BKSY, SIDU, FLY, NBIS, LMND, ONDS, ASTS, PL, FRSH, GEO, TQQQ, PAYX, DBX, PBI, PAYC, SMCI, IAG, FCX, NEM, KGC, FSM, URNM, MARA, ARM, ETHA, MP, HUT, WULF, LWLG, AEHR, COHR, AAOI, WDC, SNDK, GLW, INTC, OKLO, LRCX, AVGO, TSM, ZETA, OSCR, HIMS, NVDA, RKLB, AMD, PLTR, CRWV, MU, LSCC, LEU, ORCL, AAPL, PINS, IONQ, LAC, OPEN, IGV, UAMY, ASST, USAR, CRML, LUNR, IBIT, UUUU, TSLL, AFRM, U, APLD, UBER, GSAT, AXTI, ICHR, OUST, COIN, CRCL
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