Friday was a day mostly of fear and waiting on a firestorm from the White House, only to realize it was nothing but a little hot wind.  After the China presser amounted to nothing but “We’ll take action to eventually eliminate Hong Kong’s special treatment” markets rallied hard up off the lows the last hour of the day.  At the close, the SPY was up 0.45%, the DIA flat at negative 0.02%, and the QQQ up strongly at +1.47% as tech issues rallied hardest off the non-event.  The VXX closed down to 33.13 while the T2122 4-week High-Low Ratio fell slightly, but remains overbought at 85.29.  The 10-year bond yield fell to 0.653% and Oil (WTI) rallied yet again to $35.32/barrel. With that said about the day, it is also important to recognize that markets rose about 5-6% during May.

The big story this weekend was coast-to-coast protests and some riots. Some businesses and traffic have been temporarily disrupted in a large number of places.  The only major business responses have been that TGT (Minneapolis-based) and AAPL both closed stores, while AMZN closed distribution hubs located near protests.  These protests have mainly been peaceful dissent to racial injustice and killings of blacks by police.  But, some of the protesters have turned into rioters causing property damage, looting, injuries, and even a couple of deaths. 

Government responses have been declarations of curfews, unlawful assemblies, and no-go zones, as well as the use of tear gas, knight sticks, and rubber bullets.  There have been hundreds of arrests. Many states have also called out the National Guard.  Atty. Gen. Barr and President Trump claimed that rioters are “far-left extremists.”  So, on Sunday Trump declared ANTIFA to be terrorists.  However, there has been no evidence produced yet of any organized group organizing or leading riots locally, let along nationally. (Side note: This whole episode must give the Chinese leadership a belly laugh.  The US has denounced the Chinese for crack-downs, labeling protesters as terrorists, mass arrests, and employing similar tactics against public protests and riots over civil rights.)

On the Virus front, the global headline numbers are 6,290,758 confirmed cases and 374,335 deaths.  On Saturday India reported a record jump in new cases, extended its lockdown in “containment zones” through June 30, while also allowing retail, restaurant and religious buildings to open in the other parts of the country.  The EU adjusted its Steel Import Controls (the ones enacted in response to new US tariffs).  The new measures fall short of import quota cuts (as had been requested by European Steelmakers), but are aimed at prohibiting any stockpiling of foreign steel while European makers are not back to capacity. Finally, Russia claims to have an effective treatment drug for the virus (mentioning that the only other potentially-effective drug to their own is the GILD drug remdesivir).

In the US, we have 1,837,578 confirmed cases and 106,198 deaths reported to date. CNBC reports that AAPL data shows Americans are driving at almost the same rate they did prior to the shutdown (based on navigation map requests and geo-data from phones).  However, mass transit and restaurant bookings have barely recovered at all.  Hotel bookings are in between, having recovered about 35% of the reduction caused by the shutdown. 

An interesting tidbit from the supply chain.  Since the stimulus checks hit in the US, the demand for computers and PC components has skyrocketed.  Demand is as high now as at a normal December (Xmas season) and 25% higher than a normal May.  So, it seems the economic pain of the shutdown has been exaggerated and a bunch of that money is going straight to computer upgrades and purchases.  Combine this demand with a shipping bottleneck caused by port closures and the no passenger air flights (every passenger flight carries cargo in addition to people) and you get a May shortage of Motherboards, Graphics Cards, and Power Supplies (all sourced from China).  This should abate sometime in June as transport capacity works through the backlog.

Overnight, Asian markets were in the green across the board as May factory numbers overrode the US-China trade war fears.  However, European stocks are mixed, but mostly green so far today.  As of 7:30 am, US futures are flat and mixed, with the country preoccupied by the protests/riots and government responses.

Major economic news on Monday is limited to May Mfg. PMI (9:45 am) and May ISM Mfg. PMI (10 am).  There are also no major earnings reports on Monday.

The bulls continue to have the momentum and trend, but big intraday swings continue to be the norm.  Keep your eye on the short-term chart and don’t hesitate to lock in profits.  Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your watchlist and consideration. PFE, ORCL, PANW, ENB, JNJ, SNAP, KHC, INTC, NDAQ, JNPR, ABBV. Trade your plan, take profits along the way, and smart. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/ETFs 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

The bulls rallied all day Thursday (they love those big Jobless Claims numbers), right up until it was announced the President will hold a Friday press conference on China.  At that point, markets fell off the cliff the rest of the afternoon, closing lower.  For the day, SPY closed down 0.20% on a Shooting Star type candle, DIA was down 0.56% on a Dark Cloud Cover candle, and QQQ was flat at down 0.13% while leaving a high upper wick.  The VXX gained a bit to 34.48 and T2122 fell, but remains in overbought territory at 90.27. 10-year bond yields rose slightly to 0.697% and Oil (WTI) also climbed to $33.56/barrel.

During the day, the President signed his Executive Order targeting social media (after being fact-checked by Twitter). His appointee Atty. Gen. Barr attended the press event to also say his Dept. will also sue social media firms (the timing must be purely coincidental).  While the President’s threats will have no practical short-term impact without legislation and court cases, the message did hit TWTR (- 4.5%) and FB (-1.6%) stock on the day. These events may also restart an interesting conversation in America on freedom of speech vs. censorship, facts vs. deception, viewer ignorance vs. editorial responsibility, and the use of government power for personal purposes.

Meanwhile over on Capitol Hill, the House passed a bill to ease the loan forgiveness rules of the PPP program.  The bill lets companies put less of the loan amount into payroll, extends the window when they can use the loan funds, and pushes back the date by which they must rehire workers in order to qualify for loan forgiveness.  The Senate has discussed similar measures and will likely pass a very similar bill.

On the Virus front, the global headline numbers are 5,931,867 confirmed cases and 362,613 deaths.  Spain began further easing on Friday.  France and Turkey also announced comprehensive openings to take place the first two days of June.  The UK joined the chorus as well, announcing it will begin opening bars and restaurants “under strict conditions” as of Monday.

In the US, we have had 1,768,608 confirmed cases and 103,341 deaths reported to date. Texas reported a 3.2% increase in new cases this week, twice the previous week’s rate and the increase was higher than the 2.9% increase in testing over the period.  Elsewhere UAL followed AAL, but taking a different tactic.  UAL will offer early retirement and buyouts to reduce their workforce, but similar goal of around a 30% staff reduction. It is also noteworthy that US corporations have raised $1 Trillion in the bond market in the last month with the Fed backstop reassuring corporate bond buyers.

Overnight, just like yesterday, Asian markets were mixed again as the US-China tension leads to trade war fears.  However, Europe stocks are red across the board so far today.  As of 7:30 am, US futures are flat and mixed, with the President’s China press conference later today. 10-year bond yields also plunged overnight on trade fear related to the China press conference.

Major economic news on Friday includes Apr. Core PCE, Apr. Trade Balance, Apr. Personal Spending, and Apr. Retail Sales (all at 8:30 am), May Chicago PMI (9:45 am), Michigan Consumer Sentiment (10 am), and Fed Chair Power speech (11 am).  Major earnings reports are limited to BIG, CIR, CGC, and SOL all before the open.

A lot of economic data comes before the open again today.  However, it is likely to be the China press conference (likely sanctions and raised rhetoric) that impacts markets most.  The bulls continue to have the momentum and trend, but intraday swings continue and Thursday’s candles show that there is uncertainly about the rally.  So, keep your eye on the short-term chart and don’t hesitate to lock in profits.  Remember, it’s Friday so put some gains in your pocket and consider weekend hedges.  Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

No Trade ideas for your watchlist on Friday. Trade your plan, take profits along the way, and smart. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/ETFs 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

After a 1% gap higher at the open and an immediate strong selloff, the bulls stepped in at 10:45 am and never looked back.  The rest of the day was a steady climb to recover the losses of the morning and close the day at the highs.  On the day, the SPY was up 1.48%, the DIA up 2.21%, and the QQQ up 0.55%.  VXX fell again to 33.15 and the T2122 rose again to a very overbought 98.11.  10-year bond yields fell slightly to 0.685% and Oil (WTI) fell for a change, closing at $32.08/barrel.

During the day, BA announced they will lay off 7,000 workers this week, part of their plan to cut 10% of their workforce.  The cuts come on the same day BA restarts the production of its fiasco 737 Max plane and are major order cancellations the company blames on the virus.  In related news, the CEO of AAL told an investor conference they will not declare bankruptcy, because that would mean admitting defeat. However, AAL does plan a 30% reduction in staff.

In tech news, still furious over having his tweets fact-checked for a change, President Trump has lumped TWTR in with everything else he considers “fake news.”  So, he is expected to order a review of a law protecting online outlets against liability from any lies spread by users.  (I don’t know how that works exactly.  It was passed by Congress and signed by a President.  So, I’m not sure how a different President can order it changed.  Still, he is expected to sign the review order today.)  TWTR is obviously on the “enough lies” side of the argument, while FB is on the opposite side because they don’t want to check any of the posts made by their users.

The other big non-economic story today is likely to be China.  After the close, the House sent a China sanctions bill to the White House for signature.  This comes on the same day Sec. of State Pompeo told Congress Hong Kong is not autonomous and no longer deserves special trade status.  Finally, overnight China ratified the new security law (ahead of schedule to spite the US) that has caused the latest uproar.  So, another round of trade war seems quite possible, if not likely.

On the Virus front, the global headline numbers are 5,813,289 confirmed cases and 357,896 deaths.  The ECB said they expect the Eurozone economy to contract 8-12% for 2020.  At the same time, their just proposed $827 billion stimulus fund has not been ratified (and will not be voted on for months) as it apparently has some opposition from countries fearing the tranfer of wealth from rich to poor countries (although notably not from the richest, Germany or France who had proposed the fund.)

In the US, we have 1,745,911 confirmed cases and 102,114 deaths reported to date. The Healthcare Cost Institute (an independent no-profit) released data Wed. showing that the number of daily deaths in the US between April 1 and now is 10% higher than the same days in previous years (2014-2019).  On the legal side, President Trump and other Republicans have attacked and threatened lawsuits over the idea of mail-in ballots.  Their claim is that it would increase the threat of voter fraud, while the counter-claim is that mail-in voting has been in-place for centuries in the US for many groups.

Overnight, Asian markets were mixed again as the US-China tension leads to trade war fears.  However, Europe stocks are green across the board so far today.  As of 7:30 am, US futures are mixed, with the President’s threat keeping the QQQ  red while the S&P looks at a half percent gap up and the DIA at almost a percent gap up at the open.

Major economic news on Thursday includes Apr. Durable Goods, Q1 GDP, and Weekly Jobless Claims (all at 8:30 am), Apr. Pending Home Sales (10 am), Oil Inventories (11 am), and a FOMC Speaker (Williams at 11 am). Major earnings reports include ANF, BURL, CSIQ, DG, DLTR, MOMO, SAFM, SHOO, and TECD before the open.  COST, CRM, DELL, DXC, JWN, MOD, MRVL, TCOM, ULTA, VMW, and WSM all report after the close.

A lot of economic data comes before the open today. It seems the bulls are in control, but US-China and TWTR-Trump tensions could dampen the mood of traders.  Keep in mind that gap and fade (and yesterday re-rally) have been the norm. So, volatility remains the market constant.  Keep your eye on the short-term chart and don’t hesitate to lock in profits.  Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your watchlist and consideration: PLAY, CAKE, PENN, MU, SHAK, VALE, AAP, AG, SLV, OKE, ASML. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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 gapped higher on hopes that a vaccine will have some sort of preliminary data from a small human safety trial in July.  From there markets ground and faded the rest of the day, maybe on news of another ratcheting of tension between the US and China.  Although reported over the weekend, Tuesday afternoon news that the White House is considering specific sanctions on China, which preceded the late-day fade.  The SPY closed up 1.23%, the DIA up 2.19%, and the QQQ printed an ugly big black candle to close down 0.27% after its almost 2% gap higher to open.  The VXX closed down slightly to 33.83 and T2122 rose again to the nose-bleed area at 96.32.  10-year bond yield rose to 0.695% and Oil (WTI) rose to $34.25/barrel.

During the afternoon Senate Majority Leader McConnell said Congress will “probably” need to pass another coronavirus relief bill.  This comes after 10 days of declaring the Democrats bill DOA.  Among key Republican demands are liability immunity for those businesses whose workers contract coronavirus at work.  McConnell’s statement falls in-line with President Trump acknowledging the need for another round of stimulus.

On the Virus front, the global headline numbers are 5,709,551 confirmed cases and 352,753 deaths.  In China, the city of Wuhan has completed 6.5 million tests in 9 days as fear of a second wave in the city are being taken seriously.  Meanwhile, in Europe, France announced a $9 billion fund to aid its auto industry.  Germany also extended their social distancing rules through June, but reduced travel restrictions to many countries at the same time.  The EU unveiled the French/German plan to borrow $827 billion for a recovery fund to lend member states.  This is in addition to the original bailout program which still has $600 billion of unemployment, loan and investment funds available.

In the US, we have 1,725,808 confirmed cases and have broken the 100k level in deaths with 100,625 reported to date.  F was forced to pause production at a Kansas City plant after another employee was diagnosed and a “deep cleaning” of the plant must be done.  CA also announced after the close that it will allow barbershops to open in most counties.  On the other side of the country NY Governor Cuomo said they will move forward infrastructure projects like subway expansion, Train Station redesign, etc. in an effort to stimulate the economy.

Overnight, Asian markets were mixed, but tended to be closer to flat except for a very green India.  Europe also shows a little red, but in general is leaning heavily to the green side, especially in the three major bourses (FTSE, CAC and DAX), which are up 1.5-2%.  As of 7:30 am, US futures are also pointing to a mixed gap higher at the open (QQQ 0.7%, SPY 1.4% and DIA 1.65%).

Major economic news on Wednesday is limited to an FOMC Speaker (Bullard at 12:30 pm) and the Fed Beige Book (2 pm).  Major earnings reports are also limited to RL and VIPS reporting before the open.  Then ADSK, HPQ, NTAP, SPTN, TOL, and WDAY report after the close.

It seems the bulls are very hopeful about the economic recovery.  So, we could see them run again today.  However, don’t forget yesterday’s gap was met with a selling fade (especially in the QQQ).  So, “gap and chop” remains real.  Keep your eye on the short-term chart and don’t hesitate to lock in profits.  Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your watchlist and consideration: M, NIO, UAL, DUST, DXC, UCO, CBOE, BP. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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 were generally listless on Friday as many traders had apparently already left for the long weekend. The major indices opened flat and that’s largely how they stayed all day.  The only real take-away from the daily chart is that resistance held again.  At the close, the SPY was up 0.19%, the DIA down 0.06%, and the QQQ up 0.35%.  VXX was down slightly to 34.35 and the T2122 4-week High-Low Ratio climbed further into overbought territory at 90.98.  The 10-year bond yield fell slightly to 0.657% and Oil (WTI) fell slightly to $33.25/barrel.

As had been predicted, HTZ filed for bankruptcy over the weekend.  The White House also threatened US sanctions on China and revocation of Hong Kong’s special trade status with the US.  This was in reply to a new Chinese security law which impacts Hong Kong.  China responded with a statement this means we are entering a new cold war.  The latest development has both sides now blocking flights from the air carriers of the other country, including DAL and UAL.

On the Virus front, the global headline numbers are 5,611,540 confirmed cases and 348,328 deaths.  Brazil has become the new epicenter of the pandemic with a runaway infection rate and now has the second most number of cases to the US.  As a result, over the weekend the US had to impose travel restrictions on people who are from or who have visited Brazil.  Elsewhere, an ex-officio member of the ECB said they are likely to add more stimulus on top of the recently announced $817 billion plan.  (The next ECB meeting is on June 4.)  In Germany, Lufthansa received a $10 billion bailout from the government, which also gives the German government a 20% stake in the airline.  Finally, the UK also began easing Monday.

In the US, we have 1,706,226 confirmed cases and 99,805 deaths.  All 50 states have reopened at least partially now.  On Sunday, data showed that for average daily new case counts, 19 of the states have rising rates, 23 states are holding relatively steady, and 8 states have rates trending downward. Meanwhile, Boston Fed Pres. Rosengren announced the Fed will begin its lending program to mid-sized companies over the next 2 weeks.  This is similar to the PPP loan/grant program, but focused on larger companies (15,000 employees or less).   This came as a White House Economic Advisor told reporters the US Unemployment rate may still be over 10% in November.

Overnight, Asian markets were strongly green as vaccine hopes overrode fear from China/US tensions.  Europe is also green for the most part, but not quite as strongly so far today.  As of 7:30 am, US futures are also pointing to a 1.5%-2% gap higher at the open.

Major economic news on Tuesday is limited to conf. Board Consumer Confidence and April New Home Sales (both at 10 am).  Major earnings reports are also light with AZO, BNS, BAH, and ESLT reporting before the open.  KEYS and VSAT report after the close.

Everybody feels good after a long weekend and that rings true for the markets as well. With hope for a vaccine and seeing crowds shopping and partying again all weekend, Tuesday is looking like a bullish start to the week. However, the “gap and chop” has been real for months. There is also no evidence for any of the vaccines (just hope that we may see some evidence in several months). And while America revels in its freedom, it does so despite the best advice of experts (not because of it).  So, the only guarantees are uncertainty and volatility.  Watch the short-term chart and don’t hesitate to lock in profits.  Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your watchlist and consideration: INSG, TWLO, ETSY, RRC, AR, TFX, EBAY, BCRX, GRUB, ILMN, DXCM, KMX, CSX. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

The weekly jobless claims came in higher than expected Thursday (yet still slightly trending down from the previous weeks).  This caused a flat open and down day as resistance held again.  The QQQ faired worst among the major indices, falling 1.09% (and printing a Bearish Engulfing candle).  Meanwhile, the SPY was down 0.69%, and the DIA down 0.29% (both on indecisive candles).  The VXX rose slightly to 34.68 and T2122 pulled back a bit to 82.79.  10-year bond yields were unchanged at 0.68% while Oil (WTI) climbed again to $33.91/barrel.

On the Virus front, the global headline numbers are 5,218,711 confirmed cases and 335,072 deaths.  Latin America has overtaken the US and Europe as the region with the most new cases for each of the last three days.  Brazil, Peru and Mexico are the worst-hit countries in that region.  In China, researchers are finding that in the new Northern China outbreak, the virus is acting differently.  Patients there are carrying the virus for a longer period before showing symptoms (raising the amount of asymptomatic spread threat). In addition, they are taking longer to test negative after the first symptoms appear, which raises the amount of care needed. Patients also have more localized damage (in the lungs) and less damage to heart, kidneys, and stomach.  Ominously, this all implies that mutations may be underway. We just don’t know if any mutations would be favorable or unfavorable for humans yet.

In the US, we have 1,621,333 confirmed cases and 96,363 deaths.  All 50 states now have at least a partial reopening, and as expected about a third of states are showing an increase in new daily cases.  However, about 14 states have also shown decreases.  Bear in mind that both of these numbers could be deceiving, because there is a significant lag between infection and diagnosis, as well as between testing and state-reported results.  After hours, the President says he expects a second wave of the virus, but regardless of what comes he won’t close the economy back up…”we’ll fight fires” instead.

Overnight, Asian markets were deeply in the red as China plans to impose new security restrictions on Hong Kong and the US continues to escalate tensions with China.  Europe is at least partially mixed, but all the major bourses are in well into the red so far today.  As of 7:30 am, US futures are also pointing to a half percent gap lower across the board.

There is no major economic news Friday, in front of the Memorial Day weekend.  Major earnings reports are also limited to BABA, BKE, CAE, DE, and FL, all before the open.

The bulls refuse to back down, but resistance is proving hard to break at least for the large-caps.  With the lack of data and earnings drivers on Friday and with the long weekend ahead, we may see indecision continue or a move on lower volume.  Keep in mind that the bears have had no teeth for a couple of months and the bulls no fear.  However, the “gap and chop” has been real.  So, the only guarantees are uncertainty and volatility.  Watch the short-term chart and don’t hesitate to lock in profits.  (Put a little money in your pocket for the weekend.) Above all, don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

No Trade ideas for today. It’s Friday (payday) and we have a long weekend ahead. Put some money in the bank while you can. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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 Tuesday, the bulls couldn’t find the energy to get past the bad news that the MRNA coronavirus vaccine trial did not actually produce the data required to be pass a Phase 1 trial.  So, the Monday enthusiasm seems to have been very premature based on just company good feelings.  As a result, all 3 major indices failed their breakout levels and printed bearish candles closing at the lows.  The SPY was down 1.03%, the DIA down 1.51%, and the QQQ down just 0.25%.  The VXX gained to 36.03 and T2122 fell a bit down to 82.05.  10-year bond yields fell to 0.688% as money bid up bonds.  However, Oil (WTI) managed to gain to $32.36/barrel.

The Congressional Budget Office announced that it projects GDP to drop 38% in Q2, which is inline with Wall Street estimates.  Fed Chair Powell also testified before Congress, essentially saying they will spend whatever it takes to put the economy right.  Treasury Sec. Mnuchin testified as well, saying the Administration is fully prepared to provide more money and take more risks (including losses) on business bailouts.

On the Virus front itself, the global headline numbers are 5,006,675 confirmed cases and 325,322 deaths.  The UK said it will need massive participation from Brits in order to get their summer harvest done as they expect only about a third of the foreign workers who normally perform the harvest.  In Europe, Germany has agreed with neighboring countries to being slowly easing border restrictions.  

In the US, we have 1,571,131 confirmed cases and 93,558 deaths.  Johns Hopkins University reported that 17 states have seen at least a 10% increase in new case rates in the last week.  However, 16 states have also seen a drop of at least 10% over the period.  This comes as every state will be at least partially open as of today.

Overnight, Asian markets were mixed with China down while Japan and South Korea were up.  In Europe, we also see a mixed story at this point.  France and Belgium are down, but the UK and Germany are just on the green side of flat now.  As of 7:30 am, US futures are pointing to more than a 1% gap higher as Lowes reported same-store sales grew over 11% and it beat on both the top and bottom lines.

The major economic news on Wednesday is limited to Oil Inventories (10:30 am) and FOMC Minutes (2 pm).  Earnings are limited to ADI, EV, FRO, LOW, MCK, RCL, and TGT before the open.  Then CPRT, EXPE, LB, SNPS, and TTWO report after the close.

Based on Tuesday’s candle, we might expect a lower-low today and all 3 major indices do remain near a resistance/breakout point.  However, the bulls have a strong tendency to run hard in spite of any bad news and the bears haven’t been able to string together a sustained pullback for two months.  As said above, markets are looking to gap higher again.  So, all we can do is watch the short-term chart and then trade the chart in front of you.  Don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

No Trade ideas for today. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

Bulls were large and in-charge Monday as futures came into the morning confident on Fed Chair Powell’s Sunday interview remarks. Then, during pre-market, MRNA announced it had positive results in an early-stage human test of a vaccine. That was all the bulls needed to hear to run full-speed ahead.  A 2.5% gap up was followed-up by a morning rally.  From about 11:30 am, prices drifted very slightly bullish right up to the last minutes.  However, in those last moments of the day profit-takers jumped in to pull price back down to the morning highs.  On the day, the SPY closed up 3.05%, DIA up 3.81%, and QQQ up 1.86%.  The VXX was down sharply to 34.24 while T2122 closed well into the overbought territory at 93.40.  The 10-year bond yield was up strongly to 0.726 as money flowed out of bonds and Oil (WTI) had another sharply higher day closing above $30 for the first time since mid-March at $32.74/barrel.

On the Virus front itself, the global headline numbers are 4,911,720 confirmed cases and 320,454 deaths.  In Europe, France and Germany jointly proposed a $550 billion fund, set up on loans secured by all 27 EU-member countries, to pay for grants to sectors and regions most economically impacted by the pandemic. Belgium, France, Poland, and Denmark also introduced legislation to prevent any company with a presence in a “tax haven” from receiving any state aid.  Separately, France reiterated that it will proceed with its “3% digital tax” regardless of what the rest of the world does (no delay from virus impacts).

In the US, we have 1,550,539 confirmed cases and 91,985 deaths.  WMT earnings were way up on a massive e-commerce increase.  MRNA decided to capitalize on the good news cycle from announcing a “positive” vaccine trial by offering $1.34 billion in new stock (at $76/share).

Overnight, Asian markets were strongly green, as they followed the US on MRNA and Powell news from Monday.  In Europe, we see a different story, where markets are mixed, but leaning much more heavily to the red side (especially the 3 big indices).  As of 7:30 am, US futures are flat, sitting just on either side of break-even for the open.

The major economic news on Tuesday is limited to Apr. Building Permits and Apr. Housing Starts (bot hat 8:30 am), and Fed Chair Powell testifies and Fed Voter Kashkari speaks (both at 10 am).  Earnings are also very light with only AAP, HD, KSS, and WMT reporting before the open.  Only NTES reports after the close among majors.

Fed Chair Powell will likely call the tune again today.  His testimony before Congress is expected to confirm that the Fed has the bulls back.  He is also likely to reiterate that he feels Congress and the White House need to provide more stimulus on the fiscal side.  However, keep in mind that despite Monday’s strong day, the 3 major indices all sit right at a resistance/breakout point.  So, we are not quite free of the sideways range that has controlled markets the last few weeks.  Still, the bulls have the momentum now.  Watch the short-term chart in front of you.  Don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your consideration and watchlist: SGRY, CREE, WW, CCXI, ST, XPER, EVOP, IMGN, JNUG, GLUU, IMMU, NFLX, TPTX, CHWY. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

Prices gapped 1% lower at the open again Friday, this time on horrible April Retail Sales.  However, the bulls stepped in again and led a day-long rally that closed near the highs.  The result was a minimal day with the SPY up 0.46%, the DIA up 0.07%, and QQQ up 0.65%.  VXX fell slightly to 36.60 and the T2122 (4-week High =-Low Ratio) rose back to 68.25, still in the mid-range. 10-year bond yields climbed to 0.644% as money sought bond shelter a bit.  Oil (WTI) continued its strong rally, up over 7.5% again to $29.65/barrel.  For the week all 3 major indices were down.

After the close Friday it was announced that BRKB (Warren Buffett) had reduced its holdings of GS by 84%and JPM (down only 3%), while boosting holdings of PNC.  They also exited positions in TRV and PSX.  In other business news after the bell, JCP filed for bankruptcy protection as expected and now has 2 months to reorganize.

The House passed the Democrats $3 Trillion Relief/Stimulus bill Friday evening.  The White House and Senate Republicans declared it DOA, but the White House also said it would support some new stimulus bill.  So, politics as usual.  Then on Sunday Fed Chair Powell told CBS that jobless rate could top 30%.  However, and assuming there is no second wave of virus, he foresees a steady economic recovery in the second half of 2020, but full recovery won’t happen until there is a vaccine.  He also mentioned a need for more fiscal relief/stimulus, that the Fed will not consider negative rates, and that the full-recovery timeline is likely 2021. Treasury yields overnight suggest the market liked what Powell told 60 Minutes and may rally.

Going into the Week, market sentiment is confused at the moment (unless Powell’s words tipped the scale).  The AAII reported over 50% of individual investors who respond to their weekly survey are bearish (their market outlook over the next 6 months) for the third time in fourth weeks.  Fund Tracker also reports money flowed out of equity funds last week.  However, the Put/Call ratio shows a decline in defensiveness and the survey of Active Investment Money Managers shows a neutral to slightly bullish stance.

On the Virus front itself, the global headline numbers are 4,820,347 confirmed cases and 316,967 deaths.  In an interesting move, India has prohibited bankruptcy filings for a year in addition to raising the insolvency threshold 100-fold.  Japan reported that it had slipped into a recession, even before COVID-19, posting a 7.3% GDP decline in Q4 of 19 and a 3.4% contraction in Q1 of 20.  Finally, later this morning France and Germany will announce a joint initiative covering a wide range of topics, including economic recovery.

In the US, we have 1,527,951 confirmed cases and 90,980 deaths.  Texas’ daily new case numbers has started trending higher again as it opens.  However, some of the other “early opener” states like Georgia are not reporting a change in trend.  AAPL is opening many of its retail stores this week, with visitors required to wear masks and have their temperature checked prior to entry.  On the government front, the US is considering changing the PPP loan rules to allow small businesses to use more (all?) of the money for things other than payroll, while still being forgiven and also giving them longer to obtain the money.

Overnight, Asian markets were mixed but leaned toward the green.  In Europe, we see green across the board so far today.  As of 7:30 am, US futures are following Europe with markets pointing toward a 1%-1.5% gap higher at the open.

There is no major economic news on Monday.  Earnings are also very light with only IGT, SE, and SOHU among large premarket reports.  After the close only BIDU, FTK, and IQ report among large companies.

Jerome Powell may have come to the Bulls rescue again with his Sunday interview.  Futures turned decisively at that point.  However, for the last few weeks markets have been chopping sideways and we are still well within that range.  So, there is no overall trend, but very short-term the bulls seem to have the ball.  High volatility remains in place.  Keep watching the short-term chart in front of you.  Don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

Trade ideas for your consideration and watchlist: CGC, MJ, PINS, OKE, NVAX, CVET, CIEN, TSCO, ILMN, ORLY, LOPE. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

Prices gapped 1% lower at the open on the back of a worse-than-expected initial jobless claims number (3mil vs 2.5mil expected).  However, after the dust settled for 30 minutes the rest of the data was a strong, steady climb with prices closing near the high.  Technically, the SPY and especially DIA seemed to find support off the 50sma and bounced.  However, it is hard to say any of the 3 major indices broke their now 3-day downtrend.  For the day, SPY gained 1.22%, DIA gained 1.69%, and QQQ gained 1.14%.  The VXX was down a bit to 37.67 and 10-year bond yields fell to 0.62%.  Oil (WTI) rallied nearly 10% again to close at $27.73/barrel.

The cause of the day-long rally seems to be two-fold.  First, even though new initial jobless claims were worse than expected, the continuing jobless claims only rose by less than half a million.  This means that although almost 3 million people filed for unemployment this week, over 2.5 million also went back to work.  Secondly, in the inverse logic of markets, bad numbers mean it is more likely we will see more stimulus from both the Fed and fiscal sides of government.  This was reinforced when Fed voter Kashkari told CBS that Congress will have to send Americans more money as he sees the recovery taking 12-18 months.

On the Virus front itself, the global headline numbers are 4,546,070 confirmed cases and 303,863 deaths.  In Germany, the government reported the worst Q1 contraction since the 2008 Financial Crisis and projected a 10% decline in GDP for Q2.  The Russian outbreak continues to run wild as they reported another 11,000 cases again.  In Asia, the virus worry is limited to a few hotspots.  However, India reported another 4,000 new cases and China very recently locked down several cities/provinces again.

In the US, we have 1,457,649 confirmed cases and 86,912 deaths.  Among the fallout, JCP is expected to file for bankruptcy today.  CNBC reports that the White House would now likely support a new round of stimulus checks as proposed by Democrats, but this is not an official announcement and only based on sources.  The House is set to vote on the Democrat’s $3 Trillion bill, but both the Republicans in the Senate and the White House had called it “DOA.” So, again, this all seems to be negotiating tactics in the political theatre.

Overnight, Asian markets were mixed, but the red boards were not that far below break-even.  In Europe, the same is true, but leaning even more to the green side as France and Finland are the only red at this point in the day.  However, as of 7:30 am, US futures are in the red, now pointing to a 0.70% gap lower at the open. 

The major economic news for Friday includes Apr. Retail Sales and NY Fed Mfg. Index (both at 8:30 am), Apr. Industrial Production (9:15 am), Mar. Business Inventories, Mar. JOLTS, Michigan Consumer Sentiment and Mar. Retail Inventories (all at 10 am).  The only major earnings on tap for Friday are JD, PBF, and VFC all before the open.

A bounce off of support helped the bulls Thursday.  However, they were unable to break the 3-day downtrend that has formed this week.  While the bulls are not likely to accept the setback for long, it is Friday and a pause to absorb weekend reopening news might not be a bad thing.  Weekend news on the next round of stimulus and some feedback on new cases during reopening may be something traders want in their pocket before making more big bets.  So, the short-term pullback continues and high volatility remains in place.  Keep watching the short-term chart in front of you.  Don’t chase or predict, and remain cautious about longer-term swing trades.

Ed

No trade ideas for Friday. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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