Large-caps gapped higher Monday on the news of the MRNA vaccine 94% (first look) effectiveness report.  After early follow-through, that market vacillated the rest of the day except for a strong surge the last 5 minutes.  As a result, both large caps printed white Hammer type candles and the QQQ printed a large-body white candle.  On the day, DIA was up 1.67%, SPY up 1.25%, and QQQ up 0.78%.  The VXX lost another 2% to 18.65 and T2122 rose to extremely overbought at 99.03.  10-year bond yields rose again to 0.909% and Oil (WTI) was up over 3% to $41.44/barrel.

After the close Monday it was announced that TSLA will be joining the S&P500 in December.  The CEOs of both FB and TWTR will face Senate Republicans on Tuesday in a session that will likely focus on perceived “silencing conservatives.”  However, they may not get any quarter from the Democrats, who are likely to hammer them over not being more restrictive on lies and misinformation

On the virus front, the spread continues unchecked.  This surge has raised the US totals to 11,540,461 confirmed cases and 252,684 deaths. The 7-day average of new cases to 158,363 while the average number of deaths rose to 1,170/day.  Meanwhile, hospitalizations continue to rise, climbing to over 73,000 on Monday. In response, new restrictions and partial lockdowns continue from coast to coast as states continue to have to act on their own to control outbreaks.

Globally, the numbers rose to 55,466,741 confirmed cases and the confirmed deaths are now at 1,334,671 deaths.  New restrictions and lockdowns are taking place in Europe as well, even as countries that locked down a couple weeks ago (such as Germany) are starting to report progress in getting new case numbers to plateau. 

Overnight, Asian markets were mixed, but leaned to the green side.  Singapore (+1.11%), and India (+0.74%) led the gainers.  Meanwhile, Shenzhen (-0.89%) paced the losers with other exchanges showing modest moves.  In Europe, markets are mixed, but lean heavily red so far today.  The FTSE (-1.12%), DAX (-0.27%), and CAC (-0.29%) are relatively typical across the continent.  However, there are a couple of gainers such as Greece (+0.55%).  As of 7:30am, US futures are pointing to a lower open on the large caps, with DIA implying a -0.59% and SPY implying a -0.46% open.  The NASDAQ is implying a modest open to the up side at +0.25%.

The major economic news for Tuesday includes Oct. Retail Sales, Oct. Export Price Index, and Oct. Import Price Index (all at 8:30 am), Oct. Industrial Production (9:15 am), Sept. Business Inventories (10 am), and 2 Fed Speakers (Bostic and Daily both at noon).  Major earning releases include ARMK, HD, KSS, SE, and WMT before the open.  There are no major earnings announcements after the close.

WMT and HD posting beats this morning is helping futures. However, the worsening virus conditions and local/state mitigation measures are sure to continue to give volatility. Big tech names may get beaten up as FB and TWTR take their turn in the shooting gallery today. So, even with positive trends and the recent good vaccine news to help bulls, be careful.

Remember that price moves in a zig-zag pattern. Don’t be the last one buying on the zig unless you can handle the zag to come. There will always be either another stock setup down the road. Keep locking in your profits, maintain your discipline, and work your trade plan.  Stick to the trading rules you have built, follow the trend, and respect support and resistance.  Good trading!

Ed

Swing Trade Ideas for your consideration and watchlist: ESNT, SHOO, AEO, MFC, KNSL, DAR, ERIE, WING. 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

The market gapped about two-thirds of a percent higher Friday at the open.  From there, we saw a sideways grind in all three major indices until an afternoon rally took off.  Profit taking the last 15 minutes of the day closed markets off their highs, but it was still a white candle day in all 3 of the major indices.  The QQQ printed an indecisive Spinning Top type candle while the DIA printed something that could be called a Morning Star signal if you squint.  For the day QQQ closed up 0.88%, SPY up 1.38%, and DIA up 1.41%.  The VXX lost 6% to close at 19.08 and T2122 (4-week New High/Low Ratio) shot up back deep into overbought territory at 94.70.  10-year bond yields rose to 0.898% and Oil (WTI) fell two and a half percent to $40.12/barrel.

Early Monday, MRNA announced that its vaccine candidate was 94% effective against Covid-19 according to the initial look at 54 cases.  As has been mentioned previously, this does not speak to the safety of the vaccine and it is based on a small sample size.  However, markets are likely to jump on this news at least as confirmation of the PFE vaccine news from a week or so ago. At most, this is the second source of a vaccine against the virus, but this one too requires strict extreme low-temperature storage requirements.

In other business news, on Sunday AAL announce dit is slashing the number of flights between the US and UK in December due to weak demand brought on by the virus surge in both countries. Early Monday, PNC announced it will buy the US operations of Spanish bank BBVA. This $11.6 billion deal would be the second-largest bank merger of all time.

On the virus front, the spread continues unchecked.  Friday the US had the worst day of any country since the beginning of the pandemic and had a new case count (188,000) almost 2.5 times higher than our worst day during the summer surge.  This raised the US totals to 11,367,214 confirmed cases and 251,901 deaths. The 7-day average of new cases to 152,136 while the average deaths rose to 1,156/day.  45 states saw an increase of more than 10% in new case counts week-to-week with 17 of those seeing an increase of more than 50% in the period.  4 states saw a small increase (up less than a 10% week-on-week) and on SC reported a reduction (but that is believed to be a reporting glitch with their state’s data).  This comes as many states are enacting new lockdown and restrictions.

Globally, the numbers rose to 54,936,761 confirmed cases and the confirmed deaths are now at 1,326,265 deaths.  With lockdowns in place in many parts of Europe for the last couple of weeks, there is starting to be a little better news.  Germany reported last night that they are seeing the first signs of infection rates flattening.  Meanwhile, the spread is picking up steam in Asia as Japan reported 3 consecutive record-high case count days,

Overnight, Asian markets were green across the board.  Australian markets were paused at the open due to a data issue, but managed to recover.  Taiwan (+2.10%), Japan (+2.05%), and South Korea (+1.97%) led the gainers.  There were no losers although New Zealand markets were closed.  In Europe, we see a very similar picture so far today.  The only red is from Denmark (-0.90%), while the rest of the continent followed Asia higher.  Among the 3 major bourses, FTSE is up 1.61%, DAX up 1.35%, and CAC up 2.24% as of mid-day.  These are typical of the rest of the indices across Europe.  As of 7:30 am, US futures are pointing to strong gaps higher in the large-caps.  The DIA is implying a 1.75% gap up and the SPY is implying a 1.19% pop higher at the open.  The NASDAQ is implying a flat open with the QQQ at -0.04% as of now.

The major economic news for Monday is limited to Nov. NY Empire State Mfg. Index (8:30 am) and 2 Fed Speakers (Daily at 1:45pm and Clarida at 2 pm).  Major earning releases include ACM, JD, PANW, and TSN before the open.  After the close, BIDU, IQ, and BEKE report.

The MRNA vaccine news was expected, but very welcome nonetheless. Futures show we are going to get a pop out of the news and maybe a resumption of rotations out of the lockdown tech names. Remember not to chase the moves that you have missed. Fear of missing out can be deadly for a trading account. Keep in mind that the market moves in a zig-zap pattern. Don’t be the last one buying on the zig unless you can handle the zag to come. There will always be either another stock setup down the road. So, keep locking in profits, maintain discipline, and working your plan.  Stick to your trading rules, follow the trend, and respect support and resistance. 

Ed

Swing Trade Ideas for your consideration and watchlist: BP, JETS, UPWK, EVRI, KO, TGI, PSX. 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

The major indices gapped in a mixed manner Thursday, with large-caps both gapping down about half a percent while the QQQ gapped about a third of a percent higher.  However, after the open, all three then trended lower all day on fears over the Covid-19 surge.  At the end of the day, DIA closed down 1.04%, SPY down 0.97%, and QQQ down 0.47%.  The VXX gained about 7% to 20.33 and T2122 fell back into the mid-range at 69.77.  10-year bond yields fell to 0.883% and Oil was off a percent to $40.69/barrel.

During the day, Fed Chair Powell and ECB President Lagarde agreed that the virus has changed the economy forever.  While both expect the economy to recovery and eventually surpass the size of the pre-covid GDP.  However, both say they expect it to be a different environment with automation replacing many human jobs and technology being leveraged to enabled far more virtual and distributed work. Generally speaking, they seemed to say that this pandemic has forced a dramatic increase in the pace of prior trends with technology. To them, this implies that the divergence between low-pay workers and high-pay workers will accelerate, meaning that portions of the economy dependent on low-pay workers as customers are at significant risk.  At the same time, consumers will now be much more accustomed to online buying and remote service.  So, retail and foot-traffic dependent businesses are all facing a different world than 12 months ago.  Powell also took the chance to say the Fed will still need to do more than it already has and to lobby for more Congress and the Administration to do more fiscal stimulus.

The virus continues its wildfire surge. Thursday saw another huge spike in cases, up to a record 161,541 (a 20,000 case jump) in the US.  This raised the totals to 10,873,936 confirmed cases and 248,585 deaths. The 7-day average of new cases to 135,399 while the average deaths rose to 1,086/day.  During the day Thursday, Chicago issued a new stay at home order and the Mayor implored people to cancel Thanksgiving celebrations and stay locked down instead.  CA also followed TX to become the second state to record over 1 million cases.  Dr. Fauci (NIH) repeated his call to protect others by following guidelines, this time aiming at anti-maskers who he called “Americans with an independent spirit.”

Overnight, Asian markets were mixed, but mostly red again.  Shanghai (-0.86%) led the losses, which were widespread but generally moderate.  South Korea (+0.76%) and Thailand (+0.74%) led the gainers.  In Europe, we see the same picture as mixed, but mostly moderately red so far today.  Among the 3 major bourses, the FTSE is down 0.50%, the Dax up 0.18%, and the CAC up 0.35% at this point in their day.  As of 7:45 am, US futures are also pointing to three-quarters of a percent gap higher at the open as of now.

The major economic news for Friday includes Oct. PPI (8:30 am), Michigan Consumer Sentiment (10 am), and a couple Fed Speakers (Williams at 7 am and Bullard at 8:30 am).  Major earnings reports on the day are limited to SPB and VIPS before the open.

With a raging virus, very limited news, and a lack of major earnings today, expect the bears to have the edge and volatility to continue. Still, with the prospect of MRNA reporting initial effectiveness results (based on 54 patients) sometime in the next few days, the volatility could be on both sides. We need to remember that this is Friday and there is a long news cycle ahead. Don’t get caught unprepared come Monday morning.

Don’t chase the moves that you have missed. Fear of missing out (FOMO) is a deadly condition for traders. You don’t NEED to trade every day. There will always be either another stock setup down the road. So keep locking in profits, maintain your discipline, and working your plan.  Stick to your trading rules, follow the trend, and respect support and resistance. 

Ed

Swing Trade Ideas for your consideration and watchlist: MAC, DIS, EVRI, ROKU, XLE, KO, UPWK, GLUU. 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 gapped up Wednesday and generally ground sideways the rest of the day.  The DIA ground slightly lower, the QQQ slightly higher, and the SPY almost dead sideways.  On the day, DIA was flat (-0.10%), SPY up (+0.76%), and QQQ led the way (+2.24%) on a bounce-back after a couple of days of rotation out of the high-tech names. VXX fell 2% again to 19.03 and T2122 fell slightly to 88.00.  10-year bond yields rose to 0.96% and Oil (WTI) was flat at $41.52/barrel.

The only major economic or business news revolves around the virus, methods to control the pandemic or vaccine trials. If you don’t like that sort of news, this post will not please you.

The virus continues its massive surge. Wednesday saw another record 142,906 new cases and 1,479 deaths.  This raised the totals to 10,708,728 confirmed cases and 247,398 deaths. The 7-day average of new cases to 129,475 while the average deaths rose to 1,080/day.  In sum, hospitals nationwide are coming under strain as they now are nearing capacity.  As an example, El Paso Texas has 20 mobile morgues (refrigerated semi trailers) in place as their system is overwhelmed.  In addition, that city has begun looking for suitable brick-and-mortar overflow capacity such as an ice rink.

Wednesday, one of President-elect Biden’s virus advisory group said that a 4-6 week national lockdown could control the pandemic until vaccines are available and the worst of flu season is passed.  Obviously, Biden would not have any authority until at least January 20 and even then there would be massive resistance from business interests and groups.  For example, polls (depending on whether you believe polls) show that fewer than half of Americans would comply with another lockdown order. However, this advisor’s talking point may still throw a scare into markets now.  In positive news, MRNA has reached its own first threshold of cases so that preliminary efficacy data can be released.  So in the next day or so, expect another announcement like the PFE announcement last week (an initial view of the effectiveness of the MRNA vaccine.

Overnight, Asian markets were mixed, but mostly red.  Japan (+0.68%) and Malasia (+1.32%) led gainers while the losses were widespread, but moderate.  In Europe, we see the same picture as markets are mostly red, with a couple minor spots of green.  Among the 3 major bourses, the FTSE is down 0.60%, the Dax down 0.96%, and the CAC down 1.12% at this point in their day.  As of 7:45 am, US futures are also pointing to small gaps at the open.  The DIA is implying a -0.60% loss, the SPY implying a 0.32% loss, and the QQQ implying a +0.18% gain at the open as of now.

The major economic news for Thursday is limited to Oct. Core CPI and Weekly Jobless Claims (both at 8:30 am), Crude Oil Inventories (11 am), Oct. Federal Budget Balance (2 pm), and a Fed Speaker (Williams at 2 pm).  Major earnings reports include ENR, IGT, MTOR, PDD, SBH, TCEHY, and TDG before the open.  Then after the close AMAT, CSCO, and DIS report.

Volatility is likely to continue. A lack of hard news is likely to be filled with speculation over the pandemic. mitigation measures, and vaccine hopes. Remember to not get caught up chasing moves that you have missed. Fear of missing out (FOMO) is a deadly condition for traders. You don’t NEED to trade every day. There will always be either another stock setup down the road. So keep locking in profits and maintain your discipline.  Stick to your trading rules, follow the trend, and respect support and resistance. 

Ed

Swing Trade Ideas for your consideration and watchlist: SIRI, PZZA, MRNA, INTC, GILD, CRUS, ACMR, ABT. 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 gapped to all-time highs Monday on a combination of liking the Biden election victory and elation over the PFE / BTNX trial results.  However, after the record-breaking and massive gap higher, markets faded that gap all day, which left us with big ugly black candles in all 3 major indices.  The QQQ even printed a large Bearish Engulfing candle.  On the day, SPY closed up 1.26%, DIA up 3.00%, and QQQ down 2.04%.  VXX was down over 2% to 20.07 and T2122 remains deeply overbought at 91.39.  10-year bond yield made massive gains to 0.922% and Oil (WTI) gained 7.4% to $39.89/barrel.

Part of the day’s fade may have been related to realizing the PFE vaccine joy came on only preliminary data (94 cases), doesn’t include safety data yet, and the vaccine will not be widely available until Q2/Q3 (according to PFE Director Gottlieb).  However, another potential cause could be Senator McConnell saying that with a vaccine now in sight, maybe we don’t need as much stimulus.  CNBC also reported that with Senate runoff elections in January, it will be difficult for any deal to be done prior to those two seats being decided.

In miscellaneous business news, the EU has opened a second antitrust investigation of AMZN.  Meanwhile, BABA is getting set for its Singles Day holiday Wednesday and expects that the addition of live-streaming events will raise the one-day sales to $125 billion. For reference, retail industry researchers estimate US sales on Black Friday were $7.4 billion and Cyber Monday another $9.4 billion.

The virus continues its massive surge. Monday saw another 125,000+ day for new cases, but only 632 deaths.  Those numbers raised the 7-day average of new cases to 117,552 while the average of daily deaths is now 1,001/day.  In positive news, last night the FDA gave emergency use authorization to the LLY antibody product which shows promise for having dropped the number of recipients who later contract the virus from 6.3% to 1.6%.  LLY has a deal in place to provide 300,000 doses within 2 months of that approval.  NVAX also gained approval to begin a phase 3 trial of its own vaccine candidate.

Overnight, Asian markets were mixed, but mostly green.  China took the only hits, with Shenzhen (-1.05%), Shanghai (-0.40%), and Taiwan (-0.35%) all down.  Hong Kong (+1.10%) paced the gainers among major markets, but smaller markets were up significantly more.  In Europe, markets are mixed, but leaning red (mostly the smaller markets).  Among the 3 major bourses, FTSE is up 1.32%, CAC up 1.03%, and DAX flat at +0.15% at this point in their day. As of 7:45 am, US market futures are also mixed.  The DIA is pointing to a 0.71% gap higher, but the QQQ is pointing to a 1.51% gap down while the SPY is flat implying a -0.15% open.

The only major economic news for Tuesday is Sept. JOLTS (10 am) and a Fed speaker (Brainard at 5 pm).  Major earnings reports include ADNT, APD, APG, and GIB before the open.  Then after the close, ENS, HI, PTVE, REYN, SMICY, and SPTN report.

Volatility is likely to continue with the futures suggesting further unwind of the high-tech lockdown plays, but hope among the large-caps with a potentially effective vaccine on the horizon. Remember to not get caught up in moves you have missed. Fear of missing out (FOMO) is a deadly condition for traders. There will always be either another stock setup or the zig-zap motion of the market will bring the one you missed back when it consolidates. Keep locking in profits and maintain your discipline.  Stick to your rules, follow the trend, and don’t chase the moves you have missed. 

Ed

Swing Trade Ideas for your consideration and watchlist: RAD, WKHS, PSX, FOLD, OKE, MOMO. 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

Friday was a rest day for markets after an extremely hard rally all week.  All 3 major indices printed indecisive Doji or Spinning Top type candles. With little change from the Thursday close.  On the day SPY was flat at down 0.02%, QQQ was flat at up 0.07%, and DIA was the “big mover” at -0.24%.  VXX lost almost another 7% to 20.52 and the T2122 4-week New High/Low Ratio fell back to mid-range at 68.11.  10-year bond yields spiked to 0.822% and Oil (WTI) lost another 3.5% to $37.40/barrel.  As said, on the week QQQ was up 9.37%, SPY up 7.23%, and DIA up 6.85% in what was the best week for stocks since April.

Over the weekend, the election results became clearer with the majority of the country recognizing a Biden victory.  President Trump refuses to accept this outcome and will continue lawsuits in hopes that recounts and the courts will reverse or nullify apparent results.  Up to this point, markets seem to like the idea of a split government with the Administration, Senate and House in different party’s hands.  However, January runoff elections for two Georgia Senate seats leave a little bit of uncertainty about this apparent split government scenario.  Nonetheless, assuming GOP victory in at least one Georgia Senate seat, prospects of a “blue wave” leading to major tax changes now seems off the table.  So, the next thing that the market needs to figure out is what these election results will mean for a stimulus package either in a lame duck session or late January.

However, the main market news at this point of the morning was an early morning announcement by PFE and BNTX that their vaccine candidate is more than 90% effective at preventing infection 7 days after a second dose is administered (28 days after initial dose).  There is no data available yet on short-term side effects, long-term health risks, or how long the protection will last.  Nonetheless, this is a major step, and markets absolutely love what they hear so far Monday.

The virus is raging all across the country.  Friday, we had yet another record high of well over 132,000 new cases and even the normally lower weekend numbers remained in the mid-120,000s.  In total, the numbers show we have had 10,292,492 confirmed cases and 243,771 deaths.  This includes 42 states with at least a 10% increase in avg. daily new case counts since last week (30 reporting a record high), 8 holding steady, and none falling. This record surge has raised the 7-day average of new cases to 111,226 while the average of daily deaths to 979/day. 

Globally, the numbers rose to 50,856,631 confirmed cases and the confirmed deaths are now at 1,263,784 deaths.  Global record days on Friday and Saturday have led the 7-day average of new cases is 550,046 while the 7-day average virus deaths are 7,759/day. Obviously, this means more restrictions, lockdowns, and economic trouble, especially throughout Europe.  Frankly, that should be in the cards again in the US but that does not seem to mesh with the desires of the administration.

Overnight, Asian markets were green across the board on the last-minute news of an effective vaccine from PFE/BTNX.  mixed, but mostly green.  Shenzhen (+2.25%) and Japan (+2.12%) led the rally, but the strength was wide-spread.  In Europe, markets are even stronger as they have had more time to react to the news.  At mid-day, the CAC (+6.41%), DAX (+5.31%), and FTSE (+4.48%) are all screaming higher.  However, again the rally is widespread, with only small pockets of under-reaction like Denmark (+0.36%) so far today.  As of 7:30 am US futures are also pointing to major gaps higher at the open.  The DIA is implying a +5.06% gain, the SPY implying a 3.66% gain, and the lockdown technology-heavy QQQ implying only a 0.80% gain at this point.

The only major economic news for Monday are 2 Fed speakers (Harker and 12:20 pm and Mester at 1:30 pm).   Major earnings reports include BRKB, HWM, MCD, SPG, and TGNA.  Then, after the close IFF, NGL, and OXY report.

The virus, an effective vaccine, hope for more stimulus, and reduced fear of major changes from a split government have combined to make a very positive if volatile, environment for markets.  Remember that gaps are gifts and very strong news is almost always tempered by a second thought at least in the short-term.  Markets move in the zig-zap motion the vast majority of the time.

It looks like a screaming open today.  You will be very tempted to chase, but unless you are already in, strongly consider waiting for some consolidation or pullback.  Keep locking in profits and maintain your discipline.  Stick to your rules, follow the trend, and don’t chase the moves you have missed. 

Ed

Swing Trade Ideas for your consideration and watchlist: STAA, UPWK, CDAY, AAPL, SLV, GLD, SWBI. 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

Thursday saw another major gap up followed by a volatile day that left a significant upper wick (especially in the SPY) as markets gave back part of the gains at the end of the day.  The SPY could certainly be seen as a Shooting Star type candle, while the QQQ was an indecisive Spinning Top Thursday.  On the day the QQQ was up 2.61%, and both the SPY and DIA up 1.94%.  The VXX was down again to 21.97 and T2122 climbed back deep into the overbought territory at 92.34.  10-year bond yields fell slightly to 0.765% and Oil (WTI) fell to $38.54/barrel. 

Thursday afternoon the FOMC held rates at their near-zero level and said the economy continues to recover but remains well below pre-pandemic levels.  Chairman Powell said that the Fed was not out of ammunition and will “remain accommodative” with loan and asset purchasing programs staying in place.   He went on to continue urging more fiscal stimulus as pretty much every Fed speaker has done for months.

The election continues to be the main focus of talk and news.  As the counts continue, a razor-thin margin has emerged in all the “swing states.”  At the moment, it appears like Biden is winning with slight leads in Georgia and Nevada.  However, enough votes remain to be counted that half a dozen states are still undetermined.  And, of course, this is all before recounts and legal challenges to the validity of major groups of votes play out.  All told, the market continues to rally, perhaps on the prospect of a split government with the Administration, Senate and House not all in one party’s hands. However, there is no word yet on the resumption of stimulus negotiations.

On the virus front, we had yet another record high of new cases Thursday (by over 10,000 cases) at 121,888 confirmed.  In total, the numbers show we have had 9,926,637 confirmed cases and 241,026 deaths.  This record day raised the 7-day average of new cases to 96,454 while the average of daily deaths to 905/day.  In fact, the only two states trending down are AL and TN.  As a result, more states have tightened mask mandates, imposed new restrictions on gatherings, and extended emergency proclamations.  RI issued another stay-at-home advisory.

Globally, the numbers rose to 49,169,894 confirmed cases and the confirmed deaths are now at 1,241,870 deaths.  This includes a global record day of 608,550 cases and 9,056 deaths, which has led the 7-day average of new cases to 523,344 while the 7-day average virus deaths is now at 7,338/day. Obviously, this means more restrictions, lockdowns, and economic trouble, especially throughout Europe.

Overnight, Asian markets were mixed but mostly green.  India (+1.18%), Indonesia (+1.43%), and Malaysia (+1.21%) led the significant gainers.  Meanwhile, Shenzhen (-0.77%) was the only significant loser among a handful of moderate losses.  In Europe, markets are red across the board so far today.  Among the big 3 bourses, DAX is down 0.86%, CAC down 0.71%, and the FTSE flatter at -0.16% as of mid-day.  As of 7:30 am, US futures are also pointing to the red side.  The DIA is implying a -0.48 open, the SPY implying a -0.67% open, and the QQQ implying a -0.96% open at this point.

The major economic news for Friday includes Oct. Avg. Hourly Earnings, Oct. Nonfarm Payrolls, Oct. Unemployment Rate, and Oct. Participation Rate (all at 8:30 am).  Major earnings reports include AES, CLMT, CQP, LNG, COTY, CVS, DISH, UFS, ELAN, HSY, IEP, MGA, MAR, MYL, PRIM, TU, VTR, and ZBH before the open.   There are no major reports after the close.

Election uncertainty remains as does a wild-fire virus. The politicians are still focusing on and/or absorbing the election results. So, stimulus measures are not yet back front and center in Washington. Expect more volatility and remember that this is Friday. After the run of the last few days, we may see more profit-taking and hedging going into the weekend.

Stick with your trading rules and maintain discipline. Keep taking your money when you reach goals and don’t let profits evaporate waiting on “just a little more.” Don’t chase the moves you have missed, follow the trend, and respect those support and resistance levels. Trading is a marathon, not a sprint.

Ed

Swing Trade Ideas for your consideration and watchlist: IVZ, DRI, HCA, IR, TUP, FLR, CFG. 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

Wednesday saw a major gap up and some follow-through on relief that the election was behind us.  The tech-heavy QQQ that has led the way with a gap-up of almost 3.2%.  However, the election has not been concluded as counting continues.  Perhaps it was that uncertainty led to a selloff that lasted all afternoon left large upper wicks in the major indices.  On the day QQQ gained 4.46%, SPY gained 2.23%, and DIA gained 1.41%.  The VXX was down almost 9% to 22.35 and T2122 fell back out of the over-bought territory to 67.48.  10-year bond yields fell to 0.771% and Oil (WTI) gained almost 4% to $39.13/barrel.

The election continues to be the main news.  While absentee ballot counting, recounts, and several lawsuits remain to play out, it is now looking like a split government in January.  That would greatly impact the ability of a Democratic President to enact their agenda.  It would also likely impact the amount and type of stimulus.  Nonetheless, regardless of the Presidential election outcome, Senate Majority Leader McConnell has said that stimulus will be the main priority the remainder of this year, but unless something has changed the current Senate objects to anything more than small stimulus, while the market expects a large amount.  This all may feed into what the Fed does and says this afternoon.

On the virus front, we had yet another record high of new cases Wednesday with 108,389.  The numbers show we now have 9,802,374 confirmed cases and 239,842 deaths.  The 7-day average of new cases has reached a record of over 92,702 while another 1,200-death day raised the average daily deaths to 894/day.  Even with this a significant proportion of American society refuse to mask, maintain social distance or make additional efforts to wash/disinfect.  However, in good news, experts expect any new lockdowns will help lessen the impact of flu season which is also now on us.  A single test to identify both Covid and the flu has also been developed.

Globally, the numbers rose to 48,561,473 confirmed cases and the confirmed deaths are now at 1,232,955 deaths.  The 7-day average of new cases is 516,520 while the 7-day average virus deaths is 7,111/day.  Several more European countries reported new record-high new case counts Wednesday, including UK, Germany, France, Poland, Czech Republic, and Russia.  Meanwhile, new national lockdowns took effect in the UK and Germany as Italy and Spain both expanded regional quarantines.  In Asia, a third-wave of cases has started in India and South Korea has implemented new restrictions in one province.

Overnight, Asian markets were green across the board.  Hong Kong (+3.25%), Thailand (+3.43%), and Indonesia (+3.04%) were the big winners, but all major Asian indices were up well over 1%.  In Europe, markets are slightly more mixed, but lean heavily to the upside so far today. The FTSE (+0.23%), CAC (+0.92%), and DAX (+1.48%) are all green with Russia (+2.21%) and Denmark (+2.24%) leading gainers.  The only three countries in the red are Greece, Belgium, and Norway.  As of 7:30am US futures are also pointing to a very positive open.  The DIA is implying a +1.35% open, the SPY implying a +1.73% open, and the QQQ implying a +2.58% gain at the open.

The major economic news for Thursday includes Initial Weekly Jobless Claims, Q3 Nonfarm Productivity, and Q3 Unit Labor Costs (all at 8:30 am), a Fed Rate Decision and Statement (2 pm) and the FOMC Press Conference (2:30 pm).  Major earnings reports include BABA, ABC, ARNC, AZN, AAWW, BLL, GOLD, BCE, BDX, BMY, CNQ, CAH, CNP, CI, CNHI, COMM, CORE, XRAY, DISCA, D, DUK, GM, GLP, HBI, HFC, HII, IRM, KELYA, NXST, NTDOY, ODP, PH, REGN, REZI, TRGP, TEVA, THS, VMC, WCC, WRK, and ZTS all report before the open.  Then after the close ADT, AEE, AIG, BKNG, BFH, CZR, CNDT, ED, BAP, CWK, DXC, EOG, FLS, HLF, MTD, MNST, NWSA, PBA, PFSI, RGA, RSG, SRE, SWX, SQ, TMUS, TDS, TSE, UBER, USM, and XPO report.

As the election count winds down, markets are loving the certainty that will bring. The market seems to believe that protracted lawsuits will not have an effect on future direction. Stimulus, the virus, and earnings are back at center stage now. Just be aware that the Fed does have a limit to what they can do this afternoon, but certainly nobody is expecting any tightening or ending of Fed bailout loan programs. So, while short-term volatility in likely to continue, the market seems happy to have the election (mostly) in the rearview mirror.

Remember to follow your rules and maintain discipline, Take your money when you reach goals and don’t let profits evaporate waiting to bag “just a little more.” Follow the trend, don’t chase moves you have missed and respect both support/resistance and your stops. (Bear in mind that a $100 loss looks great when you now have a $1000 loss.) 

Ed

Swing Trade Ideas for your consideration and watchlist: AAPL, ENPH, ABBV, MSFT, RIG, FAS, IDXX, DVN. 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

Tuesday saw a gap higher and a generally bullish day although a selloff at the end of the day left large upper wicks in all 3 major indices.  On the day, DIA was up 2.02%, SPY up 1.73%, and QQQ up 1.73% also.  The VXX fell 5.5% to 24.51 and T2122 bolted up well into the overbought territory at 89.22.  10-year bond yield spiked to 0.892% (a big move up for bonds) and Oil (WTI) climbed nearly 3% to $37.84/barrel.

The entire world (obviously including markets) were focused on the US election, large voter turnout, and how the counting process will go.  As predicted, Trump both claimed victory and fraud as he promised to go to the Supreme Court to stop vote counting.  However, short of banana republic tactics, the outcome of the voting in many states may not be known for at least days and court proceedings about the validity or suppression of many of those votes could last weeks.  Markets, which had been heading up steeply early in the evening have pulled back and diverged sharply on this situation.

On the virus front, we had yet another day of well over 90,000 new cases as the 5 highest case count days have all been recorded in the last week.  The numbers show we now have 9,694,176 confirmed cases and 238,656 deaths.  The 7-day average of new cases has reached a record of over 88,915 while another 1,200-death day raised the average daily deaths to 871/day.  36 states are trending the wrong way with only 5 (AL, HI, LA, TN, and VT) showing a reduction in cases.  Hospitalizations are also up sharply, particularly in the Midwest.  Meanwhile, in TX, the state Atty. General filed injunctions to stop a city (El Paso) from implementing local lockdown measures. At the same time, El Paso is down to using its civic center as a field hospital and is using 4 mobile morgues (cold storage) brought in help handle overwhelmed facilities.

Globally, the numbers rose to 47,428,861 confirmed cases and the confirmed deaths are now at 1,213,224 deaths.  The 7-day average of new cases is just over 500,000 while the 7-day average virus deaths is 6,663/day.  Much of Europe (especially the most economically dynamic portions of the continent) is now under lockdown again as they try to save their healthcare system. 

Overnight, Asian markets were mostly modestly green.  Only Japan (+1.72%) and Taiwan (+1.04%) had significant moves to the upside, while only Indonesia (-1.05%) had a significant move down.  In Europe so far today, Portugal (-1.24%) is the outlier as the rest of the continent is modestly green.  The FTSE (+0.42%), DAX (+0.34%), and CAC (+0.68%) are more or less typical across the continent.  As of 7:30am US futures (that had been significantly up) are now positive, but widely missed.  The DIA is implying a 0.13% gain, the SPY implying a 0.91% gain, and the QQQ implying a 2.67% gain at the open.

The major economic news for Wednesday includes ADP Nonfarm Payroll (8:15 am), Imports/Exports and Trade Balance (8:30 am), Oct. Services PMI (9:45 am), Oct. ISM Non-Mfg. PMI (10am), and Crude Oil Inventories (10:30 am).  In major earnings, we will see CLH, ES, HLT, PSN, PFGC, SMG, TA, and VRT report before the open.  Then after the close ALL, UHAL, AWK, APA, EQH, BKD, CF, CTVA, DCP, ET, ENLC, EXPE, FNF, GFL, GDDY, HOLX, LNC, LUMN, MELI, OLN, PXD, PRAH, PSA, QRVO, QRTEA, STN, SUN, TRMB, and UNVR report.

Just as on Tuesday, the raging virus, the election, and earnings (or more importantly future guidance) are the main drivers of the market today. While volatility is sure to remain high as the election count drags on and lawsuits begin delegitimizing results. However, there remains palpable relief that the election will finally be “over.” The next question the market will ask is when will the lame-duck government get back to delivering more stimulus? So, expect more volatility in the short-term, but maybe, just maybe there is some light at the end of this tunnel.

With this turmoil still in place, you have to decide whether there has been enough closure to reduce risk enough for you to get back into the election. Be careful, nimble, and bear in mind you don’t have to trade every day or even week.  Lock-in profits whenever you can and maintain your discipline.  Stick to your rules, follow the trend, and don’t chase moves you have missed. 

Ed

Swing Trade Ideas for your consideration and watchlist: ALGN, MPC, PINS, PNR, CRBP, TXN, FEYE. 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

Monday was a volatile and indecisive day gapping higher about a percent and ending near where price opened on the large-cap indices, leaving us with indecisive Doji candles.  QQQ was similar, but faded the gap more than the others to give a black-body Spinning Top candle.  On the day, DIA was up 1.56%, SPY up 1.12%, and QQQ up 0.22%.  The VXX fell to 25.88% and T2122 climbed back to mid-range at 52.14.  10-year bond yields fell a bit to 0.85% and Oil (WTI) surged 3.5% to $37.04/barrel.

Obviously, only the election, the virus, and maybe some earnings surprise will be making news today. While it is possible we will know the outcome of the election by tomorrow, it is also quite possible we won’t know for a week given the shortcomings of the postal service and ballot counting rules varying across the country.

On the virus front, we had yet another day of almost 90,000 new cases. The numbers show we now have 9,568,275 confirmed cases and 237,009 deaths.  The 7-day average of new cases has reached a record of over 86,000 while average daily deaths are also rising at just over 850/day.  The American Academy of Pediatricians reported Monday that last week there were over 61,000 new cases among children nationally, bringing the total so far to over 853,000.  We are at record levels with 47 states showing increases in new case counts the last week, 26 states have deaths increasing versus the previous week.  Yet the administration continues to deny reality along with a significant proportion of the population.

Globally, the numbers rose to 47,428,861 confirmed cases and the confirmed deaths are now at 1,213,224 deaths.  The 7-day average of new cases is just over 500,000 while the 7-day average virus deaths is 6,663/day.  Much of Europe (especially the most economically dynamic portions of the continent) is now under lockdown again as they try to save their healthcare system.  However, in spots of Asia, easing continues.

Overnight, Asian markets were strongly green as they expect good news as the US election ends.  Singapore (+2.21%), Hong Kong (+1.96%), and Australia (+1.93%) led the way.  A similar story is playing out in Europe as they reach their mid-day.  The FTSE (+2.00%), CAC (+2.01%), and DAX (+1.80%) are not only the main bourses, but lead the way today.  As of 7:30am, US futures are pointing to another gap higher at the open.  The DIA implies a open up 1.60%, SPY implies a +1.28% open, and the QQQ implies a 0.69% gain at the start of the day.

The major economic news for Tuesday is limited to Sept. Factory Orders (10 am).  However, major earnings reports include AGCO, ATH, BHC, BMCH, ETN, EMR, EXC, EEXPD, RACE, FOXA, IT, HUM, NSIT, JELD, JCI, LPX, MCK, SYY, TEF, TRI, W, and ZBRA before the open.  Then after the close, ANDE, CC, DAR, PRU, SMCI, and TX report.

Just as on Monday, the raging virus, the election, and earnings (or more importantly future guidance) are the main drivers of the market today. While volatility is sure to remain high, even with the likelihood of the President suing to influence the outcome of the election, there is major and palpable relief that the election will finally be “over.” Regardless of the election outcome, the lame-duck government is expected to deliver more stimulus. So, expect more volatility in the short-term, but realize we can see some light at the end of this tunnel now.

Like earnings, the election is an unpredictable, event. Consider very carefully how much risk you want to have on, even if you think you know how the election will go. Be careful, nimble, and bear in mind you don’t have to trade every day or even week.  Lock-in profits whenever you can and maintain your discipline.  Stick to your rules, follow the trend, and don’t chase moves you have missed. 

Ed

Swing Trade Ideas for your consideration and watchlist: CARR, HUN, BP, MPC, CMA, URI, ALGN, NEM, MOS. 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