Markets gapped down about half a percent Thursday on a much higher than expected increase in Initial Jobless Claims (853,000 vs 730,000 expected) to a 3-month high.  However, a recovery came quickly and the rest of the day was a range-bound gyration back and forth.  At the end of the day, all 3 major indices printed indecisive candles (Doji, Spinning Top, and Large-wick candles).  The SPY was flat at -0.03%, the DIA flat at -0.11% and the QQQ gained 0.40%.  The VXX gained a percent to 17.39 and T2122 (4-week New High/Low Ratio) fell, but remains in overbought territory at 84.43.  10-year bond yields fall on stalled stimulus talks to 0.908% and Oil (WTI) gained 3% to $46.89/barrel.

Once again, the government failed to reach a deal on more stimulus as the market has been expecting.  Senate Majority Leader McConnell outright rejected the bipartisan proposal which had been the basis of negotiations the last couple of weeks, instead saying that plan should be thrown out and new discussions begun around the last-minute plan from the Administration.  (Business liability waivers is McConnell’s pet project and that seems to be the snag.) The Democrats felt he was just grandstanding and the change of starting point would be a waste of time. So, the House adjourned for the week (having already passed its one-week stopgap spending bill).  This means there is little likelihood of any progress in talks prior to the December 18 end of funding to keep the government open.

Related to the virus itself, US infections continue to rage as the US.  The totals have risen to 16,042,537 confirmed cases and 299,703 deaths.  Thursday saw another day of 217,779 new cases and another grim record 2,974 new deaths (about one-third of world totals and we have only about 4% of the population).  This brings the 7-day average of new cases to 212,969 while deaths are averaging deaths rose to 2,407/day.  The FDA’s Vaccine Advisory Committee held a day-long public Zoom call to discuss, explain and then vote on recommending the vaccine. As expected, the vote was to recommend the PFE-BTNX be given approval for emergency use.  This is not a final approval vote, but the full FDA is expected take the committee’s recommendation and quickly approve the PFE-BTNX vaccine.

Globally, the numbers rose to 70,852,192 confirmed cases and the confirmed deaths are now at 1,591,300 deaths.  As a reference, the world is averaging about 625,000 new cases and almost 11,000 new deaths per day.  In Europe, France has extended its lockdown until January 8^th, though they are making an exception of Christmas day.  Germany also reported another record number of cases and deaths Friday as their Economic Minister told reporters the country must act now to shutdown the spread before it wrecks the economy.  Russia also reported a record increase in deaths, even though they are a week into mass vaccinations.  AZN announced it will collaborate with the makers of the Russian vaccine for trials and GSK announced their own vaccine will be delayed until late 2021.

Overnight, Asian markets were mixed again.  Malaysia (+1.82%) was a big outlier to the green side, with South Korea (+0.86%) as most green moves were very modest.  On the Downside Shenzhen (-1.31%) and Shanghai (-0.77%) were the big losers.  However, in Europe, markets are red across the board after the EU reached agreement on a $2.1 trillion Covid relief package.  Among the 3 major bourses, FTSE is down 0.99%, DAX down 1.72%, and CAC down 1.04% so far today.  As of 7:30 am, US futures are gap down to start the day.  The SPY is implying a -0.72% open, the DIA implying a -0.63% open, and the QQQ implying a -0.75% open at this point in the premarket.  

The major economic news for Friday is limited to Nov. PPI (8:30 am), Michigan Consumer Sentiment (10 am) and a Fed Speaker (Quarles at 12:40 pm).  There are on major earnings reports on the day.

Once again, the virus, vaccine news, and more delays in stimulus are top of mind in the market.  More bad news related to the Brexit deal has UK PM Johnson telling his country’s businesses and people to prepare for an “Australian-style” crash out of EU Trade. This while we sit near the all-time highs. So, continue to be careful and remember the market is overbought.

As always, respect support and resistance, the trend, and price action. Stay true to your trading rules and trust your process. Keep taking the singles and doubles the market offers you. Don’t try to sell every last share at the very top penny before the turn. Leave “top picking” to the traders who need their ego stroked more than they need to make money.

Ed

Swing Trade Ideas for your consideration and watchlist: STNG, MGM, HAL, JETS, UBER, NAT, ETSY. 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.

Free YouTube Education  •  Subscription Plans • Private 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

Markets essentially opened flat Wednesday and then sold off until 2 pm, possibly on discouraging news on the stimulus front.  From that point, all 3 major indices ground sideways the rest of the day.  This left large black candles that created a Bearish Engulfing signal in the SPY and a Dark Cloud Cover in the DIA.  On the day, the SPY fell 0.92%, the DIA fell 0.46%, and the QQQ fell 2.26%.  The VXX rose 3.68% to 17.20 and T2122 fell 5% but remains in overbought territory at 89.50.  10-year bond yields rose strongly again to 0.939% and Oil (WTI) was flat at $45.62/barrel.

As mentioned, Wednesday saw more bad news related to stimulus, as the major players found another reason to stall the deal.  This comes even though both sides agree on the top line numbers and most of the provisions.  Rather than continue to work on wording around the bipartisan proposal (the basis of the last couple of weeks), Senate Majority Leader McConnell criticized House Speaker Pelosi for not embracing the new Administration offer.  At the same time, Pelosi and Senate Minority Leader Schumer criticized the 11th-hour proposal from Treasury Sec. Mnuchin (who had been absent since before the election) and said negotiations should continue based on the bipartisan proposal.  So, as always, the important thing in Washington is who gets the credit, who loses face, and who can be blamed in the next election much more than it is about the need or available resources

In other federal news, the House has approved a 1-week stop-gap spending bill to avoid a government shutdown.  The extra week is intended to give more time to reach a longer-term spending agreement and the stimulus deal.  The idea is that a desire to leave for the holidays and a government shutdown right before Christmas will be enough pressure on lawmakers to get a deal done.  And finally, the Federal Government and dozens of State Attorneys General sued FB for anticompetitive behavior.  The suit seeks to force FB to divest Instagram and WhatsApp.

Related to the virus itself, US infections continue to rage in the US.  The totals have risen to 15,882,734 confirmed cases and 296,745 deaths.  Wednesday saw another day of 226,762 new cases and another grim record of 3,260 new deaths (about one-third of world totals and we have only about 4% of the population).  This brings the 7-day average of new cases is at 213,361 while average deaths rose to 2,400/day.  The White House Task Force leader Dr. Birx told CNBC overnight that people need to adjust their expectations and that vaccines will not significantly reduce either hospitalizations or deaths until at least late spring.  Until then, only behavior changes can reduce those two numbers.  This came as Dr. Fauci (NIH) again pleaded for the public to avoid gatherings with people outside their immediate family this holiday season.

Globally, the numbers rose to 69,369,386 confirmed cases and the confirmed deaths are now at 1,578,356 deaths.  As a reference, the world is averaging about 625,000 new cases and almost 11,000 new deaths per day.  In potentially concerning news, 2 UK Health Workers have suffered severer allergic reactions after their vaccination jab.  This has caused an immediate change in recommendations for who should and who should not be vaccinated.  For the market, the main gist is that this may cause even more public concern and resistance to vaccination, therefore prolonging the period it will take to reach herd immunity.   Beyond that, hospital beds are in short supply all around the world.  For example, South Korea has begun using cots in shipping containers to supplement its shortage as they are now down to 3% of bed capacity still available for new patients.

Overnight, Asian markets were mixed but leaned to the downside.  Taiwan (-0.98%) saw the worst action, but there was little green elsewhere in the region.  Malaysia (+0.48%) was the best bull outlier example with most Asian exchanges moderately red.  In Europe, markets are also mixed but leaning more heavily to the green side.  The 3 major bourses are typical with the FTSE up 0.78%, the DAX flat at +0.09%, and the CAC up 0.38%.  As of 7:30 am, US futures are pointing to a flat and mixed open.  The SPY is implying -0.01%, the DIA implying -0.13%, and the QQQ a slight drop at -0.33% at this point in the premarket.

The virus, vaccine hope (the PFE-BTNX approval decision is expected any day), and fear over more stimulus delays are fighting for the emotions of the market.  There was also another Brexit Trade Deal failure overnight with the year-end deadline fast approaching. Sitting near the all-time highs and having shown some semblance of resistance here, it feels like the market wants to be bullish, but is scared and waiting for another reason to make the next move.  So, be careful and remember the market is overbought.

Respect support and resistance, the trend, and price action. Stay true to your trading rules and trust your process. Keep booking those singles and doubles. It’s the profits you take that pay the bills, not bragging rights. So, leave “picking the very top” to the traders more interested in stroking their ego than making money.

Ed

Swing Trade Ideas for your consideration and watchlist: OMI, F, CAT, ZM, NVDA, SLM, EVRI. 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.

Free YouTube Education  •  Subscription Plans • Private 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

On Monday the large-caps gave us a small gap down, followed by an indecisive, Doji type candle day.  The DIA was a Doji Bearish Harami.  The QQQ gave us a small gap up followed by more bullish follow-through. On the day, The QQQ gained 0.57% to close at yet another all-time high.  The SPY lost 0.21% and DIA lost 0.49%.  The VXX gained about half a percent to 17.21 and T2122 remains deep in overbought territory at 94.84.  10-year bond yields fell to 0.928% and Oil (WTI) fell a little over a percent to $45.63/barrel.  In an interesting sidebar, Fresh Water (H2O) began trading as a commodity Monday.

Monday was a bad day and night for stimulus.  Senate Majority Leader McConnell refused to endorse the bipartisan compromise bill and it appears Congress will need to pass a one-week spending extension on Wednesday to keep the federal government open until December 18.  This is being done because the two sides of the stimulus negotiation have agreed on the high-level numbers, but they are not agreed on the wording of the specifics of spending.  So, in order to roll this into an omnibus funding bill, they need to kick the can down the road another week. 

In corporate news, TSLA will offer another secondary stock sale to raise $5 billion.  This is the second time it has sold more stock in 3 months and may be an indication it is trying to squeeze every penny out of a very high market price for the stock.  Meanwhile, GS has agreed to buy out its Chinese partner (and has applied to Chinese Regulators for the right to have 100% ownership of a securities entity in mainland China).  This followed JPM taking 71% ownership in its own Chinese securities joint venture and CS announcing it would like to take 100% ownership of its mainland securities partnership.

Related to the virus itself, US infections continue to rage as the US.  The totals have risen to 15,370,339 confirmed cases and 290,474 deaths.  Monday saw another record 200,000+ new cases and 1,539 new deaths.  This brings the 7-day average of new cases is at 206,259 while average deaths rose to 2,300/day.  This comes as Dr. Fauci (NIH) told CBS reporters that the “full brunt of Thanksgiving gatherings on the Covid surge” has not hit yet…but it’s coming soon. This came as Fauci and several other health experts were urging the public to cancel or dramatically change holiday gathering plans.

Globally, the numbers rose to 68,055,468 confirmed cases and the confirmed deaths are now at 1,553,155 deaths.  The big global news was that the UK has begun giving vaccinations using the PFE-BTNX vaccine.  Due to the extreme cold needed and logistics, at least at first, they are focusing on hospital workers and priority patients (like the elderly) who are already located at a major hospital for appointments. However, across the channel, Germany reached a new record high infection rate.  In Asia, Hong Kong increased restrictions on social distancing yet again while South Korea and Japan have called out their militaries to assist in medical staffing and contact tracing.

Overnight, Asian markets were mixed yet again.  Thailand (+2.01%) was an outlier as the gains were generally modest.  The same is true of South Korea (-1.62%) being abnormal while most losses were quite modest.  In Europe, markets are leaning more heavily to the downside so far today.  Only two minor markets are modestly green, but the 3 major bourses are typical with the FTSE down 0.48%, the DAX down 0.41%, and the CAC down 0.82%.  As of 7:30 am, US futures are pointing to a modest gap down.  The SPY (-0.56%), DIA (-0.47%), and QQQ (-0.39%) are all implying lower opens at this point in the premarket.

The major economic news is very limited for Tuesday. This includes Q3 Nonfarm Productivity and Q3 Unit Labor Costs (both at 8:30 am).  The major earnings releases are also limited and include AZO, GIII, and THO before the open.  Then after the close, CHWY and GME report.

Asia and Europe seem to be leading us lower on Tuesday, perhaps on at least a delay in any US stimulus or on the bad virus news from around the world. With limited economic news or earnings to change that lead, it looks like we may have a lower open. However, remember that hope springs eternal among bulls up near the all-time highs. The point being, it does not pay to fight the trend until it is broken. Just be careful.

Respect support and resistance, the trend, and price action. Remain true to your trading rules and trust your process. Keep booking those singles and doubles. It’s the profits you take that pay the bills. So leave “picking the very top” to the traders more interested in stroking their ego than making money.

Ed

Swing Trade Ideas for your consideration and watchlist: NAT, PINS, AAPL, XLC, COOP, AG, SOLO, BLNK, EGO. 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.

Free YouTube Education  •  Subscription Plans • Private 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

On Friday, all 3 major indices had a slight gap up and then the bulls followed through early.  After about 10 am, the rest of the day was a sideways grind.  On the day, the large-caps led as the SPY was up 0.86%, DIA up 0.84%, and the QQQ up 0.41%.  All 3 of the indices then closed at all-time high closes.  The VXX fell almost 2% to 17.11 and the T2122 remains deep in overbought territory at 96.91.  The 10-year bond yields spiked (as money flowed out of bonds) to 0.973% and Oil (WTI) was up at $46.09/barrel.

Over the weekend, leaks from both sides indicated that a stimulus deal could be agreed in the next day or two at an agreed price tag of $908 billion.  GOP Senators have said that Senate Majority Leader McConnell and President Trump will support the legislation.  One of the agreed provisions seems to be a second $1,200 stimulus check, which retailers (particularly online retailers) will find very appealing, assuming it is not too late to get the checks out by year-end.

Chick-fil-A restaurant chain filed suit against all the major poultry suppliers (TSN, PPC, SAFM, JBSS), alleging price-fixing.  In other corporate news, Airbnb raised the price range for their IPO due out on Thursday from $44-$50 to $56-$60 per share.  KODK stock also shot as much as 70% higher in pre-market trading as a federal agency found that they had found no evidence of conflicts of interest from the unusual trading around the July announcement of the company’s pivot and announced government contract to supply ingredients for a potential Covid treatment.

Related to the virus itself, US infections continue to rage across the US.  The totals have risen to 15,159,529 confirmed cases and 288,906 deaths.  Friday saw another record 237, 372 new cases and 2,742 deaths.  The 7-day average of new cases is at 200,012 while deaths are averaging 2,258/day.  The country hit another record number of Covid hospitalizations Sunday as we have seen over 1 million new cases in the first 5 days of the month alone.  In CA, more regions of the state were put under a “stay at home” order, including the San Francisco, Los Angeles, and San Diego regions.  All in all, 33 million of the state’s residents are under the order as cases, ICU capacity, and deaths are at extreme levels. That said, we should also note that the FDA is expected to approve the emergency use of the PFE-BTNX vaccine on Thursday with first vaccinations likely to happen within a day after the approval. A vote on the approval of the MRNA vaccine is expected a week later. Distribution of both will still be challenging as many states only have a handful of hospitals in their entire state with the ultra-cold freezers needed to store and distribute these two vaccines.

Globally, the numbers rose to 67,493,569 confirmed cases and the confirmed deaths are now at 1,543,627 deaths.  In Europe, Denmark has announced a partial lockdown after many cities report record new cases.  The UK is set to begin administering the first batch of PFE-BTNX vaccine on Tuesday.  In Asia, Japan saw another record number of new cases Sunday and South Korea is implementing new restrictions to stay ahead of the spread.  In Indonesia, 1.2 million doses of a Chinese Covid-19 vaccine have arrived with another 1.8 million doses scheduled to arrive by early January.

Overnight, Asian markets were mixed.  Hong Kong (-1.23%) and Shanghai (-0.81%) led the losses while Indonesia (+2.07%) and Taiwan (+0.88%) led the gainers.  In Europe, we see a similar pattern so far in their day.  Belgium (-0.87%) and the CAC (-0.74%) are leading the downside push while Denmark (+0.59%) and the FTSE (+0.38%) lead the gainers.  As of 7:30 am, US futures are pointing to a lower open.  The SPY (-0.37%), DIA (-0.41%), are implying a small gap down while the QQQ (-0.10%) indicates an open on the red side of flat.

There is no major economic news for Monday.  Major earnings releases include JKS before the open and CASY and TOL after the close.

A lack of major econmic news is likely to be overwhelmed by optimism as the UK begins vaccinations with the US a few days behind. That plus the hope for economic stimulus may be enough to let the bulls run. Keep in mind that we are at all-time highs, in an overbought market, and the gains seem tentative. So, just be careful.

As always, don’t predict reversals (the trend is your friend until it is broken), but also don’t chase moves you missed. Respect support and resistance, the trend, and price action. Remain disciplined to your trading rules. Keep booking those singles and doubles. It’s the profits you take that pay the bills, not bragging rights of picking the very top.

Ed

Swing Trade Ideas for your consideration and watchlist: BERY, FUL, KNSL, KURA, RS, FOLD, STNG, ALB, ADP, CCK, ADT, CRBP, XLB, ARNC. 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.

Free YouTube Education  •  Subscription Plans • Private 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

On Thursday, all 3 major indices put in indecisive Doji-like candles at the all-time highs, but failing to great out of resistance.  Even the lower than expected Initial Jobless Claims number did not help.  On the day the SPY was on the red side of flat (-0.03%), the QQQ on the green side of flat (+0.14%), and the DIA was mildly positive (+0.28%).  The VXX rose just under one percent to 17.41 and T2122 rose again to 91.16, deep in overbought territory.  10-year bond yields fell to 0.911% and Oil (WTI) rose a bit to $45.65/barrel.

The DOJ sued FB Thursday, claiming the company has been discriminating against American workers by reserving 2,600 high-wage jobs for only foreign temporary visa holders.  PFE stock was also fell when a report came out the company only expects to ship only half (50 mil. doses vs. 100 mil.) of the Covid-19 vaccine that was originally planned and promised by year end.  The cause was said to be “supply chain problems” (raw materials that were not below standard).  After hours, the Pentagon blacklisted 4 Chinese firms, including SMIC and CNOOC (adding them to the same list a Hauwei).

On the stimulus front, House Speaker Pelosi and Senate Majority Leader McConnell met to further discuss stimulus Thursday.  McConnell said afterward that there were hopeful signs of reaching a deal before year-end.  While McConnell still claims to back only half the amount the Democrats and a bipartisan Senate group propose, the main sticking point seems to be McConnell’s insistence the bill include blanket Covid-related liability waivers for businesses

Related to the virus itself, US infections continue to rage as the US.  The totals have risen to 14,532,196 confirmed cases and 282,829 deaths.  Thursday saw another record 218, 576 new cases and 2,918 deaths.  That said, the 7-day average of new cases is at 176,145 while deaths are averaging deaths rise to 1,876/day.  CA expanded on the Los Angeles lockdown, implementing regional “Stay at home” orders in areas of the state where the remaining ICU bed capacity has fallen below 15% of normal.

Globally, the numbers rose to 65,664,051 confirmed cases and the confirmed deaths are now at 1,514,619 deaths. In Asia, Hong Kong reports it is undergoing a “fourth wave” and Seoul South Korea is increasing restrictions in the city to fight what the Mayor reports is a “desperate crisis” as the country reported the highest increase in cases since March.  Elsewhere, Tokyo reports that COVID-19 has raised the budget for the Olympics from $2.7 billion to $15.3 billion.

Overnight, Asian markets were mixed.  South Korea (+1.31%) and Taiwan (+1.11%) led the gainers.  Losses were more modest and Japan (-0.22%) and Malaysia (-0.39%) are typical of the losses.  In Europe, markets are almost green across the board.  Only the DAX (-0.16%) has failed to “get with the bull program” so far today.  The FTSE (+0.82%) and CAC (+0.36%) are typical with no exchange moving one percent yet.  As of 7:30 am, US futures are pointing to modestly higher open.  The DIA is implying a gain of 0.48%, The SPY a 0.38% higher open, and the QQQ a 0.33% open up.  However, remember we have a lot of data between now and the open.

The major economic news for Friday includes Imports/Exports, Nov. Avg. Hourly Earnings, Nov. Nonfarm Payroll, Nov. Participation Rate, Oct. Trade Balance, Nov. Unemployment Rate, and Q-on-Q Unit Labor Costs (all at 8:30 am), and Oct. Factory Orders (10 am).  There is also a Fed Speaker (Bowman at 10 am).  Major earnings are limited to BIG before the open.  There are no major reports after the close.

A big economic news day and hope related to stimulus talks are likely to call the tune at least early on in the day. At this point, we seem to be following Europe with an implied move to the upside. Regardless, keep in mind that we are at all-time highs, in an overbought market, and this is Friday. So, even if you don’t want to avoid weekend news cycle risk, there is a possibility that others will by day end. Just be careful.

As always, don’t predict reversals (the trend is your friend until it is broken), but also don’t chase moves you missed. Respect support and resistance, the trend, and price action. Remain disciplined to your trading rules. Keep booking those singles and doubles. It’s the profits you take that pay the bills, not bragging rights of picking the very top.

Ed

Swing Trade Ideas for your consideration and watchlist: SBUX, LPX, T, UAA, PINS, CMCSA, TUP, KO. 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.

Free YouTube Education  •  Subscription Plans • Private 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

All 3 major indices gapped modestly lower at the open Wednesday on concern over stimulus and a lower than expected ADP Payroll Number (25% miss).  However, the bulls stepped in and put in nice white candles for the day on talks between Democrats and Republicans over potential stimulus.  The SPY and QQQ both closed at new all-time high closes and the DIA is not far off.  On the day the DIA gained 0.24%, the SPY gained 0.21%, and the QQQ gained 0.13%.  The VXX was flat at 17.30 and T2122 (4-week New High/Low Ratio) fell 7%, but remains overbought at 86.24.  10-year bond yields rose again to 0.939% and Oil (WTI) rose 1.5% to $45.19/barrel.

CNBC reported some major economic news Wednesday.  It reported that the country’s largest shipper UPS had halted package pickup Monday from many of the nation’s largest retailers, because it is experiencing system capacity problems. In part, this may be due to the shift to online shopping causing increased demand and perhaps made worse by retailers pushing discounts earlier than Black Friday in an attempt to drive more volume to ecommerce (thus “stuffing the pipe” as it were).  Regardless of cause, this is a huge problem heading into holiday season and is impacting companies like NKE, GPS, LB, M, etc. UPS refused comment on whether losses of workers due to the virus had any impact.  Regardless, the virus is having an impact as UPS is gearing up to ship vaccines as it has diverted resources to build ultra-freezer units within its network.

On the stimulus front, three was quite a bit of action during the day.  House Majority Leader Hoyer met with Senate Majority Leader McConnell to discuss stimulus for the second time this week.  A leak from that meeting said they are hoping to pass a combined stimulus and stop-gap government funding bill (to avoid a shutdown) by late next week.  In the Meantime, House Speaker Pelosi and Senate Minority Leader Schumer said that they believe the bi-partisan $908 billion bill introduced in the Senate earlier this week should be the basis for negotiations.  This comes down over a trillion dollars from their previous position, but remains over $400 billion above what McConnell wants.  However, markets may be happy that at least they are talking again.

Related to the virus itself, US infections continue to rage as the US.  The totals have risen to 14,314,265 confirmed cases and 279,867 deaths.  Wednesday saw almost 204,000 new cases and over 3,000 new deaths (both record highs).  That said, the 7-day average of new cases is at 167,640 while deaths are averaging deaths rise to 1,658/day.  The national number of virus hospitalizations topped 100,000 for the first time on Wednesday.  Los Angeles Mayor (and county), the most populous county in the country issued a 3-week “stay at home” order during the day.  He urged residents to “cancel everything” in hope that after 3-weeks the lockdown can be lifted just days before Christmas.

Globally, the numbers rose to 64,985,212 confirmed cases and the confirmed deaths are now at 1,502,253 deaths. In Europe, the UK has Health Minister has said the PFE vaccine will begin distribution (actual jabs) as soon as Monday.  He also said he hopes the AZN vaccine will also be available by Christmas.  Not to be outdone, Russia has announced it will open mass vaccination centers (using their own freeze-dried vaccine) in Moscow the weekend.  Germany extended restrictions through at least January 10 as they struggle to contain the surge.  In Asia, Japan reported the biggest increase in new cases since early May.

Overnight, Asian markets were mostly green on generally very modest moves.  The exceptions were Malaysia (+1.85%) and Thailand (+1.44%).  In Europe, the opposite is true as markets are mostly red so far Thursday.  Most have moved only modestly, but there are a few showing momentum to the downside.  The FTSE (-0.04%) is flat, but the DAX (-0.42%) and CAC (-0.24%) are much more typical.  As of 7:30 am, US futures are pointing to a flat open.  The DIA is implying a loss of 0.10%, the SPY a loss of 0.04%, and the QQQ a gain of 0.20% at this point in the premarket.

The major economic news for Thursday is limited to Weekly Initial Jobless Claims (8:30 am), Nov. Services PMI (9:45 am), and Nov. ISM Non-Mfg. PMI (10 am).  Major earnings releases include CBRL, DG, DCI, GMS, KR, MIK, SIG, and TD before the open.  Then after the close, COO, MRVL, SAIC, and ULTA report.

Hope related to stimulus talks (Mr. Market loves him some government money)are fighting the virus surge. This likely means Jobless Claims will have the deciding vote in influencing the open. Either way, we remain at all-time highs, in a volatile situation, and the market is still overbought. So be careful.

Don’t predict reversals (the trend is your friend until it is broken) and don’t chase moves you missed. As always, respect support/resistance, the trend, and price action. Maintain that discipline to your trading rules. Keep booking those singles and doubles. Leave “swinging for the fence” to the amateurs. Profits pay the bills, not bragging rights.

Ed

Swing Trade Ideas for your consideration and watchlist: CGC, SNAP, BA, NIO, UBER, PSX, DKNG, SPR. 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.

Free YouTube Education  •  Subscription Plans • Private 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

All 3 major indices gapped higher about a percent to new all-time highs on Tuesday. However, from there we saw divergence and a different reaction.  The SPY ran up and then sold off to leave an ugly high-wick Shooting Star type of candle.  The DIA ran and then sold off hard closing near the lows to print an ugly high-wick, black candle.   At the same time QQQ formed sort of a big-body Spinning Top closing at the all-time high close.  On the day SPY gained 1.05%, the QQQ gained 1.28%, and DIA gained 0.60% (on the gap up alone).  The VXX rose about a percent to close at 17.34 and T2122 climbed again to remain deep into overbought territory at 92.66.  10-year bond yields spiked all the way up to 0.929% and Oil (WTI) fell nearly 2 percent to $44.55/barrel.

After the close, CRM announced it has bought WORK for $26.79/share and .0776 shares of CRM.  At the same time, CRM beat estimates on their earnings reports, but soft forward guidance caused an post-market selloff.  In other corporate news TSLA gapped up over 5% on its first day in the S&P, but sold off to close up 3.10%.  HPE also announced it is moving out of Silicon Valley and will relocate the company HQ to Houston.

On the stimulus front, a bipartisan group of Senators announced a $908 billion relief plan.  This plan was almost immediately shot down as a non-starter by Majority Leader McConnell.  However, McConnell is passing a revised version of his earlier $500 billion plan among Republican colleagues.  In the meantime, House Speaker Pelosi and Minority Leader Schumer sent a revised Democratic plan to their GOP counterparts.  Neither McConnell nor Pelosi announced any details of their plans or how they might differ from the previously proposed plans.  Both sides are espousing “hope” a deal can be done, but neither side is expressing optimism.  In the meantime, Fed speakers (including Chair Powell in testimony Tuesday) continue to express concern about the uncertainty in the economy and a strong need for more stimulus.

Related to the virus itself, US infections continue to rage as the US.  The totals have risen to 14,108,606 confirmed cases and 276,979 deaths.  Tuesday saw over 182,000 new cases and 2,614 new deaths (catch-up day from holiday maybe).  That said, the 7-day average of new cases fell to 164,488 while deaths are averaging deaths rise to 1,580/day.  The White House vaccine Czar Slaoui reported that only 15% of patients experience significant side effects from the PFE and MRNA vaccines.  No additional context was offered other than it compares to 150,000-200,000 people getting infected and 1,500-2,000 people dying from the virus each day.  In other vaccine news, the CDC voted 13-1 to name front-line health workers and then care homes as the priority for receiving the vaccine.  The US government also announced overnight that it will pay for “dry ice” and iceboxes to store the PFE-BNTX vaccine for jurisdictions that don’t have an ultra-cold freezer.  This will let the vaccine be stored and used for up to 15 days.

Globally, the numbers rose to 64,325,885 confirmed cases and the confirmed deaths are now at 1,489,788 deaths. In Europe, the UK has given temporary approval for the PFE-BTNX vaccine and the Health Minister has said it can start being distributed next week.  Elsewhere in Europe, Germany reported a record daily death toll, France has reinstituted border checks (to prevent French Skiers from returning home without a 7-day quarantine) and Russia will present its freeze-dried vaccine (which requires no refrigeration) to the United Nations today.  In Asia, Japan reported a near-record number of cases, but also a record number of patients in intensive care.  Perhaps not wanting to miss out on the race/news cycle, China has shown reporters its large climate-controlled warehouse filled with vaccine.  They claimed they are ready to ship millions of doses of Chinese-made vaccines to 16 countries as soon as regulators in those countries approve the medicines. Among these are Mexico, Brazil, Turkey, UAE, and Indonesia.

Overnight, Asian markets were mixed.  Indonesia (+1.56%) and South Korea (+1.58%) were dramatic outliers as most Asian exchanges closed near and on either side of flat.  In Europe, markets are also mixed but lean more to the modestly red side.  The only significant gainer is Greece (+1.35%), however, most are modestly lower at this point.  The FTSE (+0.28%) is leading, but the DAX (-0.34%) and CAC (-0.20%) are much more typical.  As of 7:30 am, US futures are pointing to a modestly lower open.  The DIA is implying a loss of 0.41%, the SPY a loss of 0.25%, and the QQQ a loss of 0.24% at this point in the premarket.

The major economic news for Wednesday includes Nov. ADP Nonfarm Payrolls (8:15 am), Factory Orders (10 am), Crude Oil Inventories (10:30 am), and the Fed Beige Book (2 pm).  There are also 2 Fed speakers (Quarles at 9 am and Chair Powell testifies at 10 am).  Earnings reports are limited to PDCO and RY before the open.  After the close GHLD, PVH, SPLK, and SNPS report.

Yesterday, we saw the bulls step in to start the month (maybe aided by stimulus hope and TSLA joining the S&P). However, we printed very indecisive candles at best. So, there was no follow-through. This comes as we sit at or near all-time highs and the market remains very overextended. Don’t predict and for heaven’s sake don’t chase moves you missed. As always, respect the trend, support/resistance, and price action. Maintain that discipline to your trading rules. Keep booking those singles and doubles. Leave “swinging for the fence” to the amateurs. Profits pay the bills, not bragging rights.

Ed

Swing Trade Ideas for your consideration and watchlist: NBR, CMCSA, AG, QCOM, VRT, VG, CELH. 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.

Free YouTube Education  •  Subscription Plans • Private 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

Large-caps gapped lower at the open and sold off all morning on Monday.  This gave way to a sideways grind near the lows most of the afternoon.  However, a late-day rally brought price up off the lows by the close.  Meanwhile, the QQQ followed the same pattern in the morning.  However, it rallied from 11 am all the way into the close to post a small gain on the day.  All 3 major indices printed indecisive Hammer or Hanging Man type candles for the day.  As of 4 pm, the SPY lost 0.40%, DIA lost 0.80%, and QQQ gained 0.20%.  It should be noted that the market closed the month of November with massive gains (35% in the large-caps).  The VXX fell almost 2% to 17.18 and T2122 (4-week New High/Low Ratio) fell a bit, but remains in overbought territory at 89.72.  10-year bond yields rose very slightly to 0.845% and Oil (WTI) fell a percent to $45.09/barrel.

AMZN followed up on what retail industry analysts reported Monday.  They said that so far, this year’s holiday shopping has been the biggest period in their history.  Analysts went on to say they think AMZN could capture as much as 42% of all buying over the holiday (obviously a massive number).  By comparison, retail foot traffic was down 52% this year on the Black Friday weekend.

In European news, PFE and BNTX have filed for European approval of their vaccine.  Meanwhile the Euro Zone has agreed to strengthen its virus crisis fund, which CNBC reports has been a long-awaited move to address investor concerns.  The move increases the role the fund will play in designing the bailout programs needed in member countries.  This is more in-line with the Northern (i.e. Germany, Austria) fiscal conservatism and less in-line with the Southern (i.e. Italy, Greece) high-debt government.  The fund will be taking over the arbiter role previously played by the EC, ECB, and IMF.

On the virus front itself, infections continue to rage as the US.  The totals have risen to 13,920,038 confirmed cases and 274,332 deaths.  That said, the 7-day average of new cases fell to 162,853 while deaths are averaging deaths rise to 1,517/day.  HHS Sec. Azar said Monday that, assuming no hitches, the first US vaccinations could come by Christmas.  Dr. Fauci (NIH) told CNN he is urging Americans to be ready and to get vaccinated as soon as the vaccine is available to their priority group and region.  He went on to explain that if we can get 80% or more of the country vaccinated, we can achieve herd immunity and get back to normal by Q2 or Q3 of 2021.  However, if only 40%-50% of the population get vaccinated, we will not and restrictions and mitigation will still be needed.

Overnight, Asian markets were green across the board.  Malaysia (+2.53%), Shanghai (+1.77%), and South Korea (+1.66%) led the way, but it was a strong showing throughout the region.  In Europe, markets are mostly green so far today.  The FTSE (+1.91%) is leading, but the DAX (+0.92%), and CAC (+1.02%) are also strong.  The only red on the continent is in smaller exchanges like Denmark (-0.26%) and Portugal (-0.21%).  As of 7:30 am, US futures are pointing to a gap higher at the open.  The DIA is implying a gain of 1.02%, the SPY a gain of 0.98%, and the QQQ a gain of 0.89% at this point.

The major economic news for Tuesday is limited to Nov. Mfg. PMI (9:45 am), Nov. ISM Mfg. PMI (10 am), and two Fed speakers (Chai Powell at 10 am and Brainard at noon).  Major earnings reports on the day are limited to BMO, BNS, and MOMO before the open.  Then after the close HPE, LU, NTAP, CRM, and TCOM report.

The bulls seem to want to get December off to a strong start. With little economic news or earnings reports, the market may be in a position to move. However, also expect sector-specific strength or weakness. For example, the recent news does not bode well for retailers, while online commerce plays may be very strong in this environment.

Once again, we sit at or near all-time highs and the market remains very overextended by most counts. However, as we all know, it doesn’t pay to fight the trend (even when it seems overdone). So, don’t predict. As always, respect the trend, support/resistance, and price action. Don’t chase moves you have missed (there will be another opportunity) and maintain discipline to your trading rules. Keep booking those singles and doubles. Leave “swinging for the fence” to the amateurs. Profits pay the bills, not bragging rights.

Ed

Swing Trade Ideas for your consideration and watchlist: SONO, AAPL, ALGN, FAST, MRVL, TXN, GLW, FSLY, PINS, DKNG, WMT. 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.

Free YouTube Education  •  Subscription Plans • Private 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

Large-caps gapped about a third of a percent higher while the QQQ gapped up six-tenths of a percent at the open Friday.  Some roller-coaster volatility action all 3 markets closed near the open to print indecisive Doji-like candle on the shortened day.  For the session the SPY gained 0.28% (as the S&P500 closed at an all-time high), DIA gained 0.17%, and QQQ gained 0.92%.  The VXX was up slightly to 17.51 and T2122 fell a percent but remains deep in overbought territory at 95.76.  10-year bonds fell to 0.842% and Oil (WTI) fell to $45.52/barrel.

Reports came from coast to coast that Black Friday shopping foot traffic was down dramatically (over 53%).  Many analysts claim the virus has accelerated the move from brick-and-mortar to online shopping, but it is worth noting that retail analysts also tell us Black Friday online sales were only up 22%.  So, overall sales seem to be down 30% year-on-year on the biggest shopping day of the year.  On one other interesting note, Shopify reports that 71% of online sales now ome from a mobile device.

On the vaccine front, MRNA sys new data shows their vaccine is 94% effective, 100% effective in preventing severe cases, and they have enough safety data to ask for approval.  They plan to file their approval request and data later today.  In the meantime, the first shipment of the PFE-BTNX joint-venture vaccine has arrived in the US and will enter the special “extreme cold” distribution system.  The first vaccinations using the PFE-BTNX cavvine could come as soon as the next 2 weeks.

On the virus front itself, infections continue to rage as the US.  The US numbers are thrown off a bit by 20 states that have not reported data since Wednesday, which means we will also see a “catch-up spike” in the next day or so.  At any rate, US totals have risen to 13,751,337 confirmed cases and 273,101 deaths.  That said, the 7-day average of new cases fell to 163,649 while deaths are averaging deaths rise to 1,481/day.  26 states report a record number of hospitalizations.  Dr. Birx (White House Task Force) urged Thanksgiving travelers to get a test and self-isolate in a plea aimed at minimizing another super-spreader holiday.  This is likely to fall on deaf ears as over 6 million Americans traveled for Thanksgiving despite cautions. Ominously, Dr. Fauci (NIH) told the press Sunday that restrictions will be needed for Christmas and New Year’ s Day based on what was seen at Thanksgiving.

Globally, the numbers rose to 63,172,024 confirmed cases and the confirmed deaths are now at 1,467,129 deaths. In Europe, the UK reports that infections dropped 30% so far during their second lockdown.  This falls in-line with PM Johnson announcing that the quarantine will end this week and be replaced with a national tier system by region.  In Asia, Japan and South Korea report daily spikes again, with the latter will impose tighter restrictions as a result.  Other countries like Indonesia are reporting record case counts.  Even North Korea is admitting problems as it imposed very tight border restrictions with China in an effort to reduce new cases.

Overnight, Asian markets were red across the board.  Hong Kong (-2.06%), South Korea (-1.60%) led the losses among major economies.  However, Indonesia (-2.96%) and Malaysia (-2.79%) were the worst hit.  China reported better than expected PMI numbers on Sunday.  In Europe, markets are mixed so far today.  Russia (-1.07%) and Denmark (+1.06%) are outliers.  Among the big 3 exchanges, the FTSE is flat (+0.15%), the DAX up (+0.49%), and CAC (-0.13%) flat.  As of 7:30 am, US futures are pointing to a mixed open.  The DIA is implying a fall of 0.41%, the SPY a fall of 0.20%, and the QQQ to a slight gap higher (+0.29%).

The major economic news for Monday is limited to Core PCE Price index (7:30 am), Chicago PMI (9:45 am), and Oct. Pending Home Sales (10 am).  Major earnings reports on the day are limited to ADNT before the open.  Then after the close ZM reports.

This is the first day back after what, for many, was an extra-long weekend. So, we might see increased activity. Also, keep in mind that today is month-end. With little economic news or earnings reports, the market may be in a position to move. However, reports indicate Black Friday was a flop for retailers this year. That may weigh on at least the retail names.

We sit at or near all-time highs and the market is overextended by most counts. However, Mr. Market can remain overbought longer than you can take the pain of predicting reversals. So, don’t predict. As always, respect the trend, support/resistance, and price action. Don’t chase moves you have missed (there will be another opportunity) and stick with your trading rules. Our job as traders is consistency, not hitting home runs.

Ed

Swing Trade Ideas for your consideration and watchlist: REGI, SDGR, GKOS, TLRY, GNUS, DAR, CDAY, EVRI, TSM, PINS, DVAX, NTRA. 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.

Free YouTube Education  •  Subscription Plans • Private 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

Large-caps opened flat on Wednesday and then proceeded to put in a sideways, but bearish grind all day.  The QQQ gapped up four-tenths of a percent and after a bit of roller coaster action rallied mildly most of the day.  The SPY printed a Hanging Man candle while the QQQ printed a Spinning Top candle.  On the day, SPY lost 0.15%, DIA lost 0.56%, and QQQ gained 0.61%.  The VXX fell over 3.5% to 17.39 and T2122 rose deeper into the overbought territory at 96.93.  10-year bond yields were unchanged at 0.882% and Oil (WTI) rose to $45.24/barrel.

Bitcoin traders got a nasty shock after the close Wednesday.  After reaching its all-time high during the trading day, after-hours Bitcoin fell nearly $3,000.  No apparent cause for the plunge is known at this point.  However, CNBC reports that most cryptocurrency experts do not feel this volatility will have long-term implications and they still expect it to reach $20,000 soon (which after this drop is 18% away).

AZN faced more scrutiny on Thursday when more details about their Phase 3 trial were released.  It turns out that the mistake, which led to data implying a 90% efficacy rate, was based on a manufacturing problem. AZN mistakenly only put half doses of the vaccine in thousands of vials.  Rather than scrap or remanufacture the product, AZN and Oxford University made the decision to just administer the half doses to a younger group of volunteers.  So, while the 1.5 dose regimen did show it was 90% effective (versus 62%when 2 doses were administered to older volunteers), the data is skewed and the AZN quality control is in question.  Worse yet, AZN and Oxford did not disclose this in their original statement. Instead, they just said 1.5 doses was 90% effective and on average the vaccine was 70% effective.  Still, the vaccine was formally referred to the UK Medicines Regulator for assessment of fitness for approval.

On the virus front itself, infections continue to rage as the US. Despite a relative respite on the holiday (only 108,289 new cases) the US totals have risen to 13,249,447 confirmed cases and 269,597 deaths.  The 7-day average of new cases to 179,923 while deaths are averaging deaths rise to 1,712/day.  The Pentagon has instituted new restriction and protocols are cases climb on bases and ships.

Globally, the numbers rose to 61,448,892 confirmed cases and the confirmed deaths are now at 1,440,531 deaths. In Europe, Russia reported a new record high in cases Friday, and Germany topped 1 million cases as it reported its worst day of deaths.  In Asia, Japan saw its second-highest new case count to date while South Korea saw the same, (with Wednesday being the record high day).

Overnight, Asian markets were mixed again, but this time leaned to the green side.  Shanghai (+1.14%) led the gainers by far while Australia (-0.53%) paced the losses.  In Europe, we see a similar mixed picture so far today.  The FTSE (-0.39%), DAX (+0.28%), and CAC (+0.052%) lead the way.  As of 7:30 am, US futures are pointing to a modestly higher open.  The DIA is implying a gain of 0.21%, the SPY a gain of 0.21%, and the QQQ to a slight gap higher (+0.35%).

There are no major economic news events Friday.  There are also no major earnings reports on the day.  However, remember that today is a half-day, with markets closing at 1 pm.

Expect a light and perhaps volatile day as many traders enjoy a four-day weekend. Also, remember that this is Friday. So, book some profits and/or place some hedges in front of the weekend. As always, respect the trend, support/resistance, and price action. Don’t chase moves you have missed (there will be another opportunity) and stick with your trading rules. Our job as traders is consistency, not hitting home runs,

Ed

Swing Trade Ideas for your consideration and watchlist: No Trade Ideas for a short Friday. 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.

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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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