Monday saw another indecisive day with the bulls still unable to push the SPY up through the all-time highs.  However, the bears couldn’t make any headway either as TSLA held up the QQQ.  It appears the summer doldrums have hit now that we’ve regained the highs. On the day QQQ was up 1.16%, SPY up 0.32%, and DIA down 0.30%.  The VXX fell to 24.59 and T2122 dropped just outside the overbought territory at 78.13.  10-year bond yields dropped a touch to 0.687% and Oil (WTI) rose to $42.84/barrel.

Before the open this morning WMT has crushed Q2 earnings estimates on a near doubling of e-commerce sales.  HD also saw soaring sales and profits for Q2 as consumers invest in home renovations.  However, department store chain KSS saw a 23% drop in sales for the quarter. 

In non-earnings news ORCL has joined the fray to buy TikTok’s North American operations to take advantage of the President Trump-imposed fire sale.  So, at the moment Byte Dance has offers from MSFT and ORCL, as well as at least an expressed interest from TWTR.

In other China-related news, the trade war continues as the US has imposed a new rule that requires a US government license before any company can sell chips made using US-made equipment to Huawei. (This rule makes US manufacturers liable for who their customers end up selling to, even through third-parties.)   This rule could very well create a near-total cutoff of chips to Hauwei.  In somewhat related news, last week a Chinese manufacturer debuted an x86-based computer that was built entirely using Chinese components.  The result was a “surprisingly not bad” computer that can be sold throughout China to replace US-based computers.  (“Surprisingly no bad” means it had a performance on par with mid-range US computers from 12-18 back.  This is a major improvement on entirely-Chinese computer performance, which was 5-10 years behind in performance as little as a year ago.)

On the virus front, in the US, the numbers show we now have 5,613,183 confirmed cases and 173,772 deaths.  While the new cases are falling, the 7-day averages remain stubbornly just over 50,000 new cases and 1,068 deaths per day.  In NC, the UNC closed in-person classes after accepting students back to campus as 4 clusters of cases broke out and the designated quarantine dorms started to fill up.  BA announced they are offering voluntary buyouts for a second time this year in an attempt to reduce their workforce without more layoffs.

Globally, the number of cases rose to 22,079,923 confirmed cases and 778,102 deaths.  The South Korean government reimposed a ban on in-person church services after a cluster of 450 people from one church tested positive.  Case counts continue to rebound in that country who has been a model of response and virus control.  Meanwhile, the WHO said Tuesday that the pandemic is being increasingly driven by unaware people (younger than 40) who are not taking preventative measures.  The WHO official was speaking to Asia specifically.  (For example, oddly, Wuhan China held a massive water park party where thousands of young people crowded in tight proximity for a party and entertainment yesterday.)  However, that same comment certainly seems to apply to the US as well.

Overnight, Asian markets continue to stay mixed.  South Korea was down hard (-2.46%) while New Zealand (+1.51%) and India (+1.23%) paced the gainers.  Overall, the Asian markets leaned a little to the green side.  In Europe, markets are much greener, but on modest moves at this point in the day.  The DAX (+0.94%) is pacing the gainers with only Denmark (-0.80%) down significantly as of now.  In the US, good earnings news has futures pointing to a modestly positive open.  The QQQ seems to be leading with futures indicating a +0.32% open while the large-caps indices look to open up about 0.20%. 

The major economic news for Tuesday is limited to July Building Permits and July Housing Starts (both at 8:30 am).  Major earnings reports include AAP, HD, KSS, SE, and WMT before the open.  Then, after the close A reports.

The SPY remains just below its all-time high after a week of trying to break through that level.  The longer SPY sits there without failing, the more likely this bull run is to continue.  However, it seems like the bulls won’t give an inch and the bears have no traction at all. 

Follow the trend and stick to your trading rules.  Don’t try to predict reversals or chase moves you have missed.  Above all, take profits as you go.  Remember, our job is to be consistently profitable, not get rich in a few months.  And welcome back to a new week. 

Ed

The Daily Swing Trade Ideas for today: EBAY, DISH, SBUX, CNP, NLS, COST, CPRI, BCRX, MPC. 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 another indecisive day, with the bulls unable to push the SPY up through the all-time highs and the bears unable to get any traction either.  This all came after July Retail Sales which at the same time was improved and much lower than expected.  The SPY closed dead-flat, the DIA up 0.14%, and the QQQ down 0.12%.  The VXX remained flat at 25.44 and the T2122 (4-week New High/Low Ratio) rose slightly back up into the overbought territory at 85.06.  10-year bond yields were also flat at 0.709% and Oil (WTI) was also flat, closing at $2.23/barrel.

After the close, the US-China Trade Deal Phase 1 review (scheduled for video conference Saturday) was canceled.  This may or may not have had something to do with the President’s renewed threats/pressure on Byte Dance (TikTok) to divest US operations.  However, it does give extra time for potential cooling off and, if planned, for China to buy additional goods prior to the review. 

Over the weekend, large parts of CA have gone back into rolling power blackouts as their electric grid is unable to keep up with demand.  The proximate cause of the grid trouble was a combination of region-wide wildfires and a major heatwave.  Places like Sacramento are forecast to hit well in excess of 100 degrees early this week and the “heat dome” that is preventing rain and causing high temperatures is projected to last for 2 weeks.  While the main news from the story is residential, a large number of businesses will also be impacted.  Not least among them will be the state’s largest electrical utilities, PCG and EIX.

On the virus front, in the US, the numbers show we now have 5,567,765 confirmed cases and 173,139 deaths.  While the new cases are falling, the 7-day averages remain stubbornly just under 53,000 new cases and 1,065 deaths per day.  The good news includes 20 states with falling rates, 17 holding roughly stable, and only 13 states with rising infection rates.  In a testing-related story. Saturday, CNBC reported their survey of 9,400 Americans, which found that 40% of virus test results are coming too late to be useful for either clinical or tracing purposes. In an unrelated story, the number of tests being done remains 10% below where it was a few weeks ago with no reason given for the reduction. 

Globally, the number of cases rose to 21,852,024 confirmed cases and 773,586 deaths.  In Europe, the recent uptick in cases continues. Over the weekend France saw a post-lockdown record high of new cases on both Saturday and Sunday.  The UK has had 6 straight days over 1,000 new cases. Italy has also reinstituted a nation-wide mandatory mask mandate while also closing all bars and nightclubs.  However, in Spain, hundreds of people protested in Madrid against mask requirements.  In Asia, the outbreak in India continues to grow.  Current 7-day averages are now at 62,500 new cases and 950 virus deaths in that country. (Keep in mind that Indian numbers are suspected to be under-reported and must be weighed against a population of 1.4 billion.)

Overnight, Asian markets continue to stay mixed.  China and New Zealand led to the upside.  Meanwhile, South Korea and Japan led to the downside.  Europe is also mixed at this point, but leans more to the green side with modest moves.  The FTSE leads the gainers at +0.61% so far today.  In the US, as of 7:30 am futures are on the green side of flat.  Nasdaq is the leader with its futures pointing to a gap up of 0.68%.  The large-caps are positive, but much closer to flat. 

The only major economic news for Monday is the NY Fed Empire State Mfg. Index (8:30 am).  Major earnings reports are also very limited with JD reporting before the open and BEST reporting after the close.

The SPY still sits just below its all-time high after 4 straight days of testing resistance at that level.  The longer SPY sits there without failure, the more likely this bull run is to continue.  It just seems like the bulls won’t give an inch and the bears have no traction at all.  However, markets do seem hesitant as politicians have given up on a stimulus deal for now. 

Follow the trend and stick to your trading rules.  Don’t try to predict reversals or chase moves you have missed.  Above all, take profits as you go.  Remember, our job is to be consistently profitable, not get rich in a few months.  And welcome back to a new week.  Happy Monday all.

Ed

The Daily Swing Trade Ideas for today: RIOT, DXC, Z, VIAC, NBL, RCL, AMAT, DG, XOP. 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 was an indecisive, up-and-down day that started with a tiny gap down in the large-caps and tiny gap up in the QQQ.  This came after a better than expected Initial Jobless Claims report that came in just under 1 million new claims.  However, after the roller coaster ride, markets closed very near where they opened, putting in a Doji candle in all 3 major indices.  On the day, QQQ closed up 0.23%, SPY down 0.19%, and DIA down 0.22%.  VXX was also flat at 25.51 and T2122 fell just outside the overbought territory at 78.57.  10-year bond yields were up strongly to 0.717% after the big afternoon bond sale and Oil (WTI) closed down a touch to $42.36/barrel.

As has been the case, there was no progress between Democrats and the White House on a stimulus bill.  Senate Majority Leader McConnell adjourned the Senate for the “August Recess.”  This followed the House having already adjourned, but the Senate did not even give the caveat House Speaker Pelosi had given of “Adjourned Pending a deal on a Stimulus Bill.”  This means a deal is very unlikely for weeks to come as both sides (Congressional and Administration) will be much more focused on conventions and politicking than governing for at least the next few weeks. 

In an interesting after-hours story, Fed Governor Brainard said the Boston Fed has been experimenting with a cryptocurrency in collaboration with MIT.  The multi-year project will focus on digital currency.  This seems a direct reaction to FB proposing (and then abandoning) its own alternative to Bitcoin in 2019.  Brainard said that no decision has been made yet on whether to create the new cryptocurrency.  However, programmers working for the Cleveland, Dallas, and New York Federal Reserve banks are collaborating on a study of implementations and implications of this technology.  So, it certainly appears to be headed that way.

On the virus front, in the US, the numbers show we now have 5,416,014 confirmed cases and 170,422 deaths.  The news cases Thursday were 54,364, which is just under the 7-day average.  The daily deaths fell a bit to 1,284, but still well above the 7-day average.  In the afternoon, Dr. Fauci said that he was not pleased with how things are going. (Specifically, he said he was disturbed by the increase in positive test rates in states like OH, KY, IN, and TN.)  However, he also said we need to think about returning to a sense of normalcy, but do so while social distancing and wearing masks.   On that topic, GA Governor Kemp dropped his non-starter lawsuit against Atlanta Mayor Bottoms mask mandate.  

Globally, the number of cases rose to 21,100,844 confirmed cases and 758,012 deaths.  In Europe, the EU closed a deal with AstaZeneca to buy 300 million doses of vaccine at an undisclosed price.  In the UK, they reinstituted travel restrictions (quarantine for incoming passengers from France, Malta, or the Netherlands).  This comes as France declared the cities of Paris and Marseilles as “areas of active virus circulation.”  In Asia Hong Kong reported a 9% contraction of their economy for Q2 and said they expect the overall year to see a 6%-8% contraction versus 2019.  (Given riots and a pandemic, that isn’t exactly shabby…if valid numbers).

Overnight, Asian markets were again mixed, but also more volatile.  China led the 1% gainers, while South Korea India, and Thailand led those losing over 1%.  However, in Europe we see red across the board so far today on the UK travel restrictions.  The FTSE and CAC are down 1.755% apiece, the DAX down 1.04% and the rest of Europe down between 0.75% and 1.50% so far Friday.  In the US, as of 7:30 am futures are mixed, but leaning red.  The QQQ is pointing to a 0.13% gain at the open while both large cap indices are pointing to about a 0.32% fall at the open. 

The major economic news for Friday includes July Retail Sales and Q2 Nonfarm Productivity (both at 8:30 am), July Industrial Production (9:15 am), and July Business Inventories, Mich. Consumer Expectations and June Retail Inventories (all 3 at 10 am).  There are no major earnings reports on the day.

The SPY still sits just below its all-time high.  It still seems likely the bulls won’t give in to the bears before they reach that goal of new highs.  However, markets do seem hesitant as politicians of all stripes have given up on a stimulus deal for now and more economists are predicting slower recovery in Q3 and Q4 than seen in Q2.  So, be a bit careful betting either direction in the short run here.

All we can do is either lighten up positions, tighten up stops or pay extra attention to any trend reversal.  Follow the trend, don’t over-extend and stick to your trading rules.  Don’t try to predict reversals or chase moves you have missed, and take those profits as you go.  Remember, our job is to be consistently profitable, not get rich in a few months.  Also, bear in mind its Friday…of the political silly season.  I might be wise to lighten up on your risk before the weekend news cycles.

Ed

The Daily Swing Trade Ideas for today: PAGS, XLU, RIOT, SLV, ENPH, WU, CL, CDE, HL, NLOK. 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 bulls refused to give back any more ground as they can smell those all-time highs just a quarter percent above in the SPY.  So, stocks gapped up 0.80% and rallied in a volatile way all day long, closing in the top 20% of their range.  On the day, SPY closed up 1.36%, DIA up 1.00%, and QQQ up a hefty 2.52%. As those numbers show, money flooded back into those high-tech, mega-cap FAANG stocks, especially TSLA on the follow-through to its stock split.  VXX was down sharply to 25.50 and T2122 also dropped a touch to 91.94 (still well into the overbought territory).  10-year bond yields rose again to 0.67% as money chased risk and Oil (WTI) rose $42.59/barrel.

On the virus front, in the US, the numbers show we now have 5,360,488 confirmed cases and 169,135 deaths.  The news cases Tuesday were 54,345, which is just under the 7-day average.  However, again the 1,386 deaths were well above the average.  The only real news on this front is concern over the data quality.  The number of tests done in the most infected states (FL, TX, CA) have fallen in the last two weeks, as the national average number of daily tests has fallen 19% in that time. This reduction takes place even while the percent positive results has increased over that time.  In addition, another group of three dozen public health advisors sent a letter to HHS extremely concerned about the Federally mandated change in data collection procedures and mechanisms causing inaccuracies. 

Globally, the number of cases rose to 20,836,339 confirmed cases and 747,865 deaths.  In Asia, China announced today that chicken (or perhaps its packaging) imported from Brazil tested positive for the virus.  India reported 67,000 new cases, which was a record high for that country.  Meanwhile, in Europe, France saw its largest increase in daily cases since May 6.

Overnight, Asian markets were mixed again, but this time lean to the green side of flat.  The winners were led by Japan (+1.78%) and Singapore (+1.28%).  The only loser of note was Australia (-0.67%).  Elsewhere the Asian market could best be described as just on the green side of flat.  In Europe, markets are broadly in the red so far today.  The FTSE leads the losses (-1.14%), but everywhere except Russia (+0.46%) sees some red at this point in the day.  In the US, as of 7:30 am futures are pointing to a flat open.  The Nasdaq futures are just on the green side, while the SPY and DIA futures are just on the red side of break-even.

The major economic news for Thursday is limited to July Import / Exports and Weekly Initial Jobless Claims (both at 8:30 am).  Major earnings are limited to ENS, NTES, and WCC before the open.  Then after the close AMAT, BIDU, and IQ report. 

The SPY sits just below its all-time high.  It seems likely the bulls won’t give into a pullback before it tastes those sweet new highs.  So, be careful betting on shorts until that has been accomplished.  However, despite Tuesday’s black candle, markets remain quite extended.  So, longs carry a fair bit of risk here too.

All we can do is either lighten up positions, tighten up stops or pay extra attention to any trend reversal.  Stick with your trading rules and execute them with discipline.  Don’t predict reversals or chase missed-moves, and don’t be greedy.  Take your profits along the way.  Remember, our job is to achieve trade goals consistently, not to hit the lottery. 

Ed

The Daily Swing Trade Ideas for today: PHM, KHC, MAS, CL, FAST, DHI, EBAY, FTV, SWKS, KLAC. 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 four-tenths of a percent on hopes from Russia’s approval and claim it has a safe and effective vaccine.  Stocks then rode the roller-coaster until mid-afternoon.  However, at 2 pm a steep selloff started and ran all the way into the close.  It is possible a story that no stimulus package was imminent or perhaps an early leak prior to the announcement that Former-VP Biden selected Senator Kamal Harris as his running mate was the cause.  (Personally, I think it was the Big-10 canceling fall football that sank spirits.)

Regardless of the cause of the late selloff, of the 3 major indices, only the QQQ broke its uptrend.  However, SPY closed down 0.83%, DIA down 0.34%, and QQQ down 1.89% as a rotation from the tech high-fliers into recovery economy tickers continued even during the selloff.  VXX was up to 36.95 and T2122 fell a touch to 93.19 (still deep in the overbought territory).  Oil (WTI) was down slightly to $41.68/barrel and 10-year bond yields rose strongly to 0.64%.

After the close, TSLA announced a 5-for-1 stock split for stockholders as of August 21. During the day BA reported 43 more plane orders were cancelled in July (bringing the total to 836 cancelled so far this year). However, that significant decrease needs to be weighed against the fact the company still has almost a 4,500-plane production backlog to work through.

On the virus front, in the US, the numbers show we now have 5,306,851 confirmed cases and 167,761 deaths.  New cases for Tuesday were at 54,519, which is slightly under the 7-day average.  However, the 1,504 deaths for the day were well above the average.  After the close, the President announced the US had reached a deal with MRNA to buy 100 million doses of their experimental vaccine for $1.53 billion.  The state of FL reported a record jump in virus deaths on the day (increasing almost 3x from Monday).  Interestingly, that state’s average daily new cases were down 38%, but tests done per day dropped an even larger 46% in the last two weeks (likely partially due to hurricane Isaias).

Globally, the number of cases rose above 20 million as it reached 20,553,328 confirmed cases and 746,652 deaths.  The UK reported that its economy contracted 20.4% in Q2.  This is right in line with analyst expectations following a small contraction in Q1.  However, it does put them technically into a recession.  Germany saw a new spike as they reported over 1,000 new cases Tuesday.  While that is less than 2% of the US cases, bear in mind that they also only have 25% of the US population.

Overnight, once again Asian markets were mixed.  Hong Kong and Thailand were the only decent size gainers.  Meanwhile, China and New Zealand led the losers.  The rest of the countries delivered smaller moves spread around break-even. In Europe, bourses are technically mixed but lean heavily toward the green.  The DAX is just on the red side of flat while Sweden and Denmark are showing half-percent loses. Elsewhere we see a healthy green numbers, led by the FTSE being up 1.1%.  In the US, as of 7:30 am futures are pointing to a gap higher.  Today the gaps will be less varied with the SPY looking at +0.74%, the QQQ at +0.89%, and the DIA at +0.93%.

The major economic news for Wednesday includes July CPI (8:30 am), Crude Oil Inventories (10:30 am), July Federal Budget Balance (2 pm), and 3 Fed speakers (Rosengren at 10 am, Kaplan at 11 am, and Daly at 3 pm).  Major earnings are limited to AIT, APG, and PFGC before the open.  Then after the close CACI, CSCO, and SPTN report. 

The large-caps put in their first black candle since July 28 yesterday, following the QQQ which put in its 3^rd in a row.  Still, as mentioned above, the trend remains bullish in the large-caps and the QQQ barely broke its own.  The point is that it is hard to call Tuesday’s late selloff a trend break.  So, all we can do is keep an eye on it and not go too long or short until we get more information.  Stick to those trading rules and execute with discipline.  Don’t predict reversals or chase missed-moves, and don’t be greedy.  Take your profits along the way.  Remember, our job is to achieve trade goals consistently, not to hit the lottery. 

Ed

The Daily Swing Trade Ideas for today: CME, QCOM, SQ, SCHW, MA, STNE, PLNT, V, FTV, W. 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 opened flat, rode the roller-coaster all morning, and then were calm all afternoon.  There was what appears to be a rotation underway, out of the mega-cap FAANG stocks that have led the rally since March and into the “big recovered economy” stocks such as Industrials and Energy.  On the day SPY was up 0.30%, QQQ was down 0.43%, and DIA was up 1.28% (on that rotation).  VXX fell once again to 25.75 and T2122 rose slightly to 97.34, deeper into the overbought territory.  10-year Bond yields rose to 0.58% and Oil (WTI) rose to $41.99/barrel. 

The President’s executive orders from Saturday seemed to be a non-story on Monday.  Uncertainty, likely legal challenges, and the limited nature of the orders made the focus stay on a bi-partisan deal.  Treasury Sec. Mnuchin said the White House was willing to put more money on the table, but reportedly made no new offers.  Democrats have not made another offer either after their “meet in the middle” $2 trillion deal rejected Friday.  Both sides said over the weekend (and again Monday) that they are ready to negotiate, but the sides have also not talked since Friday according to Mnuchin.

In related news, President Trump floated that he is again seriously considering doing a Capital Gains tax cut.  As with the Payroll Tax and to be charitable, it is unclear if he has the legal authority to cut taxes by himself. While he claimed this move would create a lot of jobs via reinvestment, he reportedly also decided against the action a year ago because it would not help the working class enough.  (For example, the top 1% of taxpayers had over 75% of the long-term capital gains last year per the IRS report.)  However, it is another stimulus idea under consideration.

On the virus front, in the US, the numbers show we now have 5,251,997 confirmed cases and 166,201 deaths.  In good news, for the first time in well over a month, there are less than 50,000 virus hospitalizations in the country.  This comes as the 7-day average of both new confirmed cases and deaths have leveled off after the very recent pullback. So, the front line of the fight is getting at least a little respite.

Globally, the number of cases rose above 20 million as it reached 20,281,373 confirmed cases and 739,770 deaths. In the early hours today, President Putin claimed their country had given regulatory approval for a Russian vaccine that had proven safe and effective.  In a jab at the west, they named this vaccine “Sputnik V” and Putin said they had ordered a billion doses for global distribution.  Markets popped on the news, despite widespread skepticism about the truth and science behind the claim.  Whether true or not, the news did give hope for the vaccine development underway in the UK and US.

Overnight, Asian markets were mixed again.  China and Taiwan led the losers this time, while Japan, Hong Kong, and South Korea led gainers.  However, in Europe markets are strongly green across the board on Russia-prompted vaccine hopes.  The FTSE is up 2.5%, the DAX up 2.6%, and the CAC up 2.7% so far today.  In the US, as of 7:30 am futures are pointing to a varying gap higher.  The DIA implied open is up 1%, the SPY up 0.62%, and the QQQ up 0.39% seemingly reinforcing the rotation from high-flying tech into mainstream recovery economy names. 

The only major economic news for Tuesday is July PPI (8:30 am) and a Fed speaker (Daly at noon).  Major earnings are also very limited to BR, SYY, and YPF before the open.  There are no major earnings reports after the close.

Markets continue their bullish march. With no major economic news and high spirits from the Russian vaccine approval, we may well see more upside run. However, beware that we are over-extended and that it appears a controlled (not desperate selling or buying, just methodical movement from one group to another) rotation is ongoing. So, don’t fight the trend, but remain aware that another pause or swing to the downside may come soon.  Keep your discipline and mind those trading rules. You put them in place for a reason (to help control emotion and avoid mistakes).  As always, follow the trend, don’t predict reversals or chase missed-moves, and take your profits along the way.  Remember, we just need to make our goals consistently. We don’t have to swing for massive gains on any one trade. 

Ed

The Daily Swing Trade Ideas for today: PLAY, HWM, DFS, NBL, FTI, F, XLE, TSN, WMT. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

Hit and Run Candlesticks / Road To Wealth Youtube videos

Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

Free YouTube Education  •  Subscription Plans • Private 2-Hour Coaching

DISCLAIMER: Investing / Trading involves significant financial risk and is not suitable for everyone. No communication from Hit and Run Candlesticks Inc, its affiliates or representatives is not financial or trading advice. All information provided by Hit and Run Candlesticks Inc, its affiliates and representatives are intended for educational purposes only. You are advised to test any new trading approach before implementing it.  Past performance does not guarantee future results.  Terms of Service

Markets gapped down Friday on Trade War fears (China and Canada) and perhaps second thoughts on good July Payrolls number (better than expected but less than half of the June increase).  After a roller-coaster day markets ended on an upswing.  The SPY closed up 0.07%, the DIA up 0.26%, and QQQ faired worst at down 1.15%.   VXX fell again to 26.53 and the T2122 (4-week New High/Low Ratio) closed up deep into the overbought territory at 96.20.  10-year bond yields rose slightly to 0.566% and oil (WTI) was down to $41.60/barrel.

Stimulus talks broke down Friday. The White House rejected an offer from Democrats, saying it wasn’t actually a $1.5 trillion reduction (to $2 trillion) and the administration could not see spending more than about $1 trillion.  Then on Saturday the President issued executive orders and memorandum that will at least possibly restart an Enhanced Unemployment program ($300 of federal funds, if states first put up $100 per week).  He also deferred Payroll Tax collection through December, deferred federal Student loan payments (again through December), and told the HHS to continue to review evictions for “reasonableness”).  The impact and timing of these actions is unclear and legal challenges are possible (likely?) for some of the fiats.  Sunday, the President said he is already considering revising the Enhanced Unemployment order to just be $300/week (avoiding a state mandate).

Over the weekend, CNBC also reported that BRK repurchased over $5.1 billion of its own stock in May and June. This was a record amount for the company and over twice that they had bought back in the same period the year prior.  However, this should be seen in the context of BRK having a record of $146 billion in cash on hand.  The reason this is of note is that Warren Buffett has famously said buybacks are a sign the company cannot find anything better to do with their money. So, this may be a tangible indication BRK feels stocks the stock market is way over-priced…or perhaps that their own stock is extremely underpriced.

On the virus front, in the US, the numbers show we now have 5,199,524 confirmed cases and 165,617 deaths.  The good news that even ignoring habitually under-reported weekend numbers, the averages of new cases are flattening again. The same appears to be true (in a lagging sense) of deaths, although the 7-day average is still over 1,000 per day.  Over the weekend, 26 states saw rising infection rates, but in good news, 18 states also saw decreasing hospitalization rates.  The bad news is that a survey found that one-third of Americans say they won’t take a vaccine if/when available and another 24% are unsure whether they will.  This means the effectiveness in a herd immunity sense would be dramatically lessened if over half the population were to refuse a vaccine.

Globally, the number of cases rose above 20 million as it reached 20,046,642 confirmed cases and 734,525 deaths.  A survey of German businesses found that they expect virus restrictions to last until at least April.  This comes as new cases have picked up in Germany, France, Spain, etc.  In Asia, Japan continues to see an uptick, and Australia’s second-largest state reported a record number of cases and deaths on Monday.

Overnight, Asian markets were mixed, but lean to the green side.  China, South Korea and Australia were the winners, with Japan, Hong Kong, and Singapore leading the losers.  In Europe markets are leaning more to the green side.  However, the moves are less than half a percent so far in their day.  In the US, at 7:30 am futures are flat with the 3 major indices straddling and close to the break-even line from Friday. 

The only major economic news for Monday is June JOLTS (10 am).  Major earnings include DUK, GOLD, MAR, MELI, ON, and PARR before the open.  Then after the close, BKD, CNXN, IFF, NGL, NTR, OXY, SPG, and TME report.

Markets continue to be relentlessly bullish, but at least the techs are looking a little tired and everything is extended.  The truth is all 3 indices could use a little rest.  So, don’t fight the trend, but remain aware that another pause or swing to the downside may come soon.  Stick to those trading rules and execute them with discipline.  Follow the trend, don’t predict reversals or chase missed-moves, and don’t be greedy.  Take profits along the way.  Remember, our job is to achieve trade goals consistently, not hit massive winners. 

Ed

The Daily Swing Trade Ideas for today: UNM, DFS, MS, XLU, JCI, SLB, NKE, FEYE, PM, HAL. 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 opened flat and ground sideways until noon.  However, FB and AAPL led markets higher as the bulls stepped in again to put together a rally all afternoon.  On the day, QQQ was up 1.32% (another all-time high close), SPY up 0.67%, and DIA up 0.70%.  VXX fell again as there was no fear to be seen in markets, closing at 26.74 and T2122 fell back to 87.72, which is still in overbought territory.  10-year bond yields fell to 0.538% and Oil (WTI) was off slightly to $41.98/barrel.  Gold once again closed at an all-time high of $2,074.80/oz.

President Trump has imposed a 10% tariff on aluminum imports from Canada again (a year after they were dropped and one month after the USMCA pact went into effect).  Canada responded by threatening retaliatory tariffs on US goods according to Reuters.  To go along with his theme of nationalism and “protecting us from foreigners,” the President also banned US firms from doing business with the Chinese companies behind the TikTok and WeChat apps.  Byte Dance (owner of TikTok) has threatened legal action over the ban and had already been in talks to sell to MSFT for over a week.  There was no mention of what made this ban urgent now, when less than a week ago the President said if TikTok was sold to MSFT by Sept. 15 it could avoid the ban.

The other economic news out of Washington was the stimulus deal.  Both Republican and Democrat negotiators claimed more progress was made in talks, but that the sides remain far apart.  President Trump sought to pressure the negotiations by again making the threat to take Executive Orders to do the portions he likes.  (This renewed threat may have led to or helped the afternoon rally. I’m just not sure of the timing on his comments vs. the rally.)  It remains unclear exactly what measures he has the legal right to do.  However, he’s shown a tendency in the past to issue orders and make opponents challenge them in court where legal procedures can be used to render challenges irrelevant due to timing. Among the possibilities are a so-called Payroll Tax Holiday (although it is unclear if this would only be a postponement since he cannot rewrite the tax code by fiat). The other thing mentioned is an extension of the moratorium on evictions.

In the Real Estate Sector, mortgage rates fell again to another record low, the eighth record low this year. Oddly, at the same time a survey by the National Assn. of Homebuilders found that housing is still less affordable than it has been for over 18 months. (That claim is based on the percent of homes sold to people who qualify for loans who have an income at or below the US median.  In other words, tighter lending standards mean fewer “average Americans” qualify to buy a home.)  In a related story, CNBC also reported that 32% of Americans had missed mortgage payments as of July 31.

On the virus front, in the US, we went over 5 million cases as the numbers show we now have 5,032,805 confirmed cases and 162,812 deaths.  On the day, we saw over 58,600 new cases and over 1,200 deaths (still above the 7-day average).  TX saw its positive test rate climb to a tad more than 17% Thursday, just shy of the mid-July peak. Several other states instituted new or extended their mask mandates.

Globally, the number of cases has reached 19,293,179 confirmed cases and 718,326 deaths.  In Asia, India reported a record number of new cases as the (15% more than its previous high).  In Europe, for the second day in a row, Germany saw the largest number of new cases since early May.  Spain and France have also reached their highest 7-day average of new cases since April.

Overnight, Asian markets were in the red across the board, with the lone exception of South Korea which managed a gain of 0.39%.  The key driver was the trade war news as the US took the actions described above.  However, in Europe markets are more mixed and very near flat across the board.  The FTSE is “up” 0.02%, the DAX up 0.23%, and the CAC down 0.26%. In the US, at 7:30 am futures are flat, all 3 major indices are pointing to a down open as the futures sit at -0.38% in all 3 major indices.

The major economic news for Friday is limited to July Avg. Hourly Earnings, July Nonfarm Payrolls, and July Unemployment Rate (all at 8:30 am).  However, obviously July Non-farm Payrolls is a big one and is under close scrutiny by markets. Major earnings include DISH, IEP, MGA, UFS, and VTR all before the open.  There are no major earnings after the close.

Markets remain unrelentingly bullish and have made quite a nice run this week.  However, by most counts, markets are again extended.  Still, this most recent surge has come in a more orderly action (fewer huge gaps and whipsaw candles).  And that sort of price action tends to allow moves to last longer.  So, don’t fight the trend, but remain aware that another pause or swing to the downside may come soon.   

Stick to those trading rules and execute with discipline.  Follow the trend, don’t predict reversals or chase missed-moves, and don’t be greedy.  Take profits along the way.  Remember, a trader’s job is to consistently achieve goals and build their account.  Also bear in mind this is Friday…so lock in some profits ahead of the weekend news cycles.

Ed

The Daily Swing Trade Ideas for today: PM, PENN, AES, ABT, KO, FAST, NKE, MCD. 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 modestly higher Wednesday on a DIS beat of massively reduced expectations and were held back by a huge miss in new ADP July payrolls and the lack of progress on a stimulus package deal.  The SPY and QQQ chopped sideways the whole day, but DIA had a rally on the back of DIS and BA (after GOP Senators proposed $25 billion in airline industry aid.  On the day DIA was up 1.34%, SPY up 0.60%, and QQQ up 0.25%.  The VXX fell 2% to 27.04 and T2122 rose higher into the overbought territory at 94.81.  10-year bond yields rose to 0.551% and oil climbed to $42.16/barrel.  Gold also continued its rally closing at another record of $2,051.40/oz as the dollar continued to devalue. 

Bloomberg reported Wednesday afternoon that the country’s 4 largest banks (JPM, WFC, BAC, C) had $152 billion in loans that are in “deferred payments” status as of the end of June.  Since there is no standardized reporting of this information to the SEC, it is likely the total in “deferred” status is much higher.  For example, WFC only reports on residential loan deferrals (not commercial).  At the same time, C outlined only that most of its deferred payments are coming from credit cards.

The stimulus plan negotiations made some progress Wednesday with the White House agreeing to higher unemployment benefits through December (70% of compensation plus $400/week) and Democrats agreeing to reduce their Postal Service funding from $25 billion to $10 billion.  Meanwhile, away from the negotiations, Republican Senators who are up for reelection offered their own bill that is even more generous than what the White House agreed. The 3 Senators offered 80% of compensation plus $400-$500/week (at State discretion) for August and then 80% plus $400/week through the end of the year. Even though not part of the negotiations, since it was introduced as a bill, one has to assume their levels become the minimum of an end-deal.

In the US, the virus numbers show we have 4,973,741 confirmed cases and 161,608 deaths.  On the day, we saw over 55,000 new cases (still suspiciously well below a week ago and far below the 7-day average) and over 1,300 deaths (above the 7-day average).  KS reported late Wednesday that its counties that do not have mask mandates have seen higher spread rates than those that have mandates.  Meanwhile, another group (The Infectious Disease Society of America) urged a Federal mask mandate in an open letter to VP Pence.  In virus-related business news, JNJ reached a $1 billion deal with the government to produce 100 million doses of vaccine, once a vaccine has been approved. 

Globally, the number of cases has reached 19,005,651 confirmed cases and 711,863 deaths.  In Europe, both France and Germany reported their highest daily increase in cases since May while the spread in Spain is back to levels it saw in April. Poland also increased restrictions a notch again.  In Asia, Australia’s 2^nd largest city (Melbourne) has been placed on total lockdown for 6 weeks.  In China, despite a tiny new case count, the country has ramped up testing to 4.85 million tests per day.

Overnight, Asian markets were mixed but leaned toward the green side again.  The only significant movers were South Korea (+1.33%) and Singapore (+1.04%).  At the same time, China, Japan, and Hong Kong were modestly lower.  However, in Europe, we see red across the board at this point.  The FTSE is down 2%, CAC down 1.2%, and DAX down 0.85%.  The only news I know of that may be the driver in Europe is the Bank of England holding rates steady and warning of slower recovery.  However, it may be the trade war between the US and China or even the lack of a US stimulus deal that weighs on sentiment.  In the US, at 7:30 am futures are flat, all 3 major indices sitting just on the red side of break-even from yesterday’s close.

The major economic news is limited to Initial Jobless Claims (8:30 am) and a Fed speaker (Kaplan at 10 am).  Major earnings releases include ADNT, AEP, AES, BCE, BDX, BHC, BLL, BMY, CAH, CNP, CNQ, COMM, CORE, GLP, HFC, HII, HLT, HWM, JLL, KBR, LNG, MYL, NSIT, OLN, PH, PWR, TEN, THS, TRGP, VIAC, WLK, and ZTS all before the open.  Then after the close, AEE, AVT, BECN, BHF, CWK, DXC, ED, EOG, FLO, HLF, MWK, PBA, PRSP, POST, RSG, TDS, TMUS, UBER, UNVR, and WCN report.  

Markets remain seemingly unrelentingly bullish.  The SPY is now back to within 2% of its all-time high and QQQ seems to print new all-time highs daily.  However, by most counts, markets could use a rest again.  Still, this most recent surge has come in a more orderly action (fewer huge gaps and whipsaw candles).  And that sort of price action tends to allow moves to last longer.  So, don’t fight the trend, but remain aware that another pause or swing to the downside may come soon. 

As always, stick to your trading rules and execute with discipline.  Follow the trend, don’t predict reversals or chase missed-moves, and don’t be greedy.  Take profits along the way.  Remember, a trader’s job is to consistently achieve goals and build their account.  It’s a job, so treat it that way and work rather than hoping to catch those 2,500% “lightening in a bottle” trades.  There are a lot of reads that made a killing taking profit on the KODK explosion and a lot more that chased or wanted even more and have now blown out their account.  Learn that lesson.  

Ed

The Daily Swing Trade Ideas for today: BB, MRO, F, NLY, NIO, CAR, PAAS, ABT, URI, IAG. 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 down slightly Tuesday and then chopped sideways until the last hour of the day.  Then the bulls stepped in for a late-day rally that ran prices up into the close.  On the day SPY closed up 0.39%, QQQ up 0.37%, and DIA up 0.63%.  This made for another all-time high close in the QQQ.  VXX was down again, closing at 27.62 and T2122 rose into the overbought territory at 90.78.  10-year bond yields fell as money chased safety closing at 0.51% and Oil (WTI) finished up to $41.59/barrel.  Gold was also up again, closing at $2,034.60/oz. 

The stimulus deal remains far from done.  Interestingly, the splits in the GOP side have resulted in Senate Majority Leader McConnell being sidelined.  When asked Tuesday evening, he was unaware of the status of negotiations.  However, he did say that if / when the White House and Democrats do reach an agreement, he is prepared to support the deal.  Meanwhile, Speaker of the House Pelosi told Fox News she doesn’t think a deal will be reached this week, while the White House told them a deal will be made this week. Negotiators will resume talks Wednesday.

Late in the day Tuesday, Bloomberg reported that Fed sources tell them the FOMC is expected to soon announce another major push to add inflation to the economy.  This is nothing new as markets seem to have been banking on such a move with rising commodity prices and a falling dollar.  However, it has never been announced that this is actually an official policy.  The new policy and programs aimed at implementing it should be announced sometime in the next few weeks.  Still, there are reportedly internal detractors to the policy who fear the idea of purposefully raising inflation in a high unemployment environment as well as fearing the “unintended consequences” of simply pushing rates to an arbitrary number hoping for only good effects. 

In the US, the virus numbers show we have 4,918,770 confirmed cases and 160,323 deaths.  US daily numbers remain questionable as among others, CA reported dramatic undercounts the last few days due to the changes in destination and format of reporting, as well as now having two formats under new HHS policies.  On the day the report was 54,504 (low relative to a week ago) new cases and 1,362 deaths (which is more in line with historical data).  Tuesday also saw another of the expected cases of students testing positive after returning to schools.  This time a second-grader in GA.

On Tuesday, 34 State Attorneys General wrote a letter to HHC Sec. Azar warning him that GILD is not supplying enough of the drug remdesivir and that GILD’s recently announced drug pricing is impeding treatment of the virus.  They urged the use of the Bayh-Dole Act to allow another company to make the patented drug (which was developed partially using public funds).  In addition, 6 States (LA, MD, MS, MI, OH, VA) have acted to fill the void left by Federal inaction by forming their own pact to purchase 3 million quick-result tests themselves from BDX and QDEL rather than wait any more on Federal action. 

Globally, the number of cases has reached 18,731,900 confirmed cases and 705,023 deaths.  In China, the recent surge of cases seems to have been back under control with 22 reported new cases today.  However, Japan reported over 1,200 new cases for the 8^th straight day over 1,000, which for them is wildfire spread. In Australia, the 3^rd day of lockdown has not yet seen a break in new case numbers. Deaths also remain at record numbers in Victoria province.

Overnight, Asian markets were mixed, but leaned toward the green side and were mostly calm.  Only South Korea (+1.4%) and Indonesia (+1.03%) saw one percent moves.  In Europe, we see green across the board at this point in the day on the back of good European Earnings reports.  The FTSE is up 1% and the DAX and CAC are both up eight-tenths of a percent so far.  In the US, at 7:30 am futures are pointing to a modest gap higher at the open.  The DIA and SPY are looking to open up about 0.60% and the QQQ up about 0.32%.  

The major economic news for Wednesday includes ADP nonfarm Payrolls (8:15 am), Import/Exports (8:30 am), July Markit Service PMI (9:45 am), July ISM Non-Mfg. PMI (10 am), Crude Oil Inventories (10L30 am), and a Fed Speaker (Mester at 5 pm).  Major earnings reports include ABC, ATH, BWA, CDW, CVS, DISCA, HMC, HUM, NLSN, NI, NXST, ODP, PRGO, PGR, REGN, REYN, SRE, TA, TEVA, TRI, VRT, AND W before the open.  Then after the close, ADT, ALB, CWH, CVNA, CENTA, CTL ,CF, DCP, DOX, ET, FISV, GDDY, LNC, MET, PSA, RE, RMD, SQ, TRMB, UHAL, WELL, and WDC all report. (Sorry for the wrong list yesterday.)

Markets remain stubbornly bullish, but in a methodical way (not the huge gaps and big whiplash candles we saw not too long ago).  We are approaching resistance in the large-cap indices, but the QQQ has clear skies overhead. The main driver will continue to be the stimulus deal negotiations.  Democrats say they are staunch at $3.4 trillion and the Republicans, while split, seem to be at a number around $1 trillion.  The area in between is where traders will hope or fear as Mr. Market either counts his money too soon or expects less than we’ll get.  

Keep an eye on those mega-cap FAANG stocks.  Yesterday they again pointed the way.  Although they were split 50/50 on green/red lines among the eight largest cap stocks, the percentages pointed to exactly the index results we saw.  Also, don’t forget to stick to your rules.  Follow the trend, don’t predict reversals or chase missed-moves, and always take profits as you go.  Our job is to consistently make our goals, not catch lightning in a bottle all in one trade.

Ed

The Daily Swing Trade Ideas for today: BJ, GPS, XLB, DG, XLP, PM, HD, XLI, VZ, APA, FRO. Trade your plan, take profits along the way, and smart. Also, remember to check for impending earnings reports. Finally, remember that any tickers we mention and talk about in the trading room are not recommendations to buy or sell.

🎯 Mike Probst: Rick, Got CTL off the scanner today. Already up 30%. Love it.

🎯 Dick Carp: the scanner paid for the year with HES-thank you

🎯 Arnoldo Bolanos: LTA scanner really works $$, thanks Ed.

🎯 Bob S: LTA is incredible…. I use it … would not trade without it

🎯 Malcolm .: Posted in room 2, @Rick… I used the LTA Scanner to go through hundreds of stocks this weekend and picked out three to trade:  PYPL, TGT, and ZS.   Quality patterns and with my trading, up 24%, 7% and 12%…. this program is gold.

🎯 Friday 6/21/19  (10:09 am) Aaron B: Today, my account is at +190% since January. Thanks, RWO HRC Flash Malcolm Thomas Steve Ed Bob S Bob C Mike P and everyone that contributes every day. I love our job.

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Disclosure: We do not act on all trades we mention, and not all mentions acted on the day of the mention. All trades we mention are for your consideration only.

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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