Markets opened dead flat on Wednesday and stayed that way until the 2pm Fed Announcement.  However, markets loved that there were no surprises and rallied hard from 2 pm right into the close.  This left us with strong white candles in all 3 major indices, with all 3 closing at yet another new all-time high close (the 4^th in a row for DIA, 5^th in a row for SPY and 6^th in a row for QQQ).  The VXX was down 3.5% to 19.82 and T2122 spiked back up into the overbought territory to 92.65.  10-year bond yields rose to 1.602% and Oil (WTI) fell almost 5% to $79.97/barrel.

As expected, the Fed said Wednesday afternoon that they will begin tapering the purchase of bonds later this month.  Fed Chair Powell said the taper will see a reduction of $10 billion in Treasuries and $5 billion in mortgage-backed bonds to be bought.  There was only a small change in the FOMC’s view of inflation.  They still feel inflation is transitory, but now expect those pressures to last well into next year  (when they had originally forecast they would end at the beginning of the year).

After the close, QCOM, BKNG, MET, ANSS, ALB, FOX, FOXA, MGM, FLT, QRVO, MRO, MAC, and MATX all beat on both lines.  Meanwhile, PXD, DXC, CTRA, and LUMN beat on the earnings line but missed on revenue.  EA, TTWO, LNC, and HST beat on the revenue line but missed on earnings.  No companies reported misses on both lines last night. 

So far today, ZTS, CI, BDX, REGN, APD, SO, ABC, AES, CNP, IRM, NRG, APTV, and XRAY have all reported beats on both lines.  DUK, FIS, ZBH, PWR, CTXS, and HII reported beats on earnings but missed on revenue.  On the other side, BLL, VIAC, and DISH beat on revenue but missed on earnings.  Only MRNA reported misses on both lines, after reporting lower than expected Covid vaccine sales and reducing the forecast for that product in future quarters.

Overnight, Asian markets were mostly green.  Shenzhen (+1.30%), Japan (+0.93%), and Thailand (+0.89%) led the gainers, but the green was widespread.  Among the 4 showing red, Taiwan (-0.25%) was the most notable.  In Europe, markets are green across the board with the lone exception of Russia (-0.54%).  The FTSE (+0.05%) is atypical as it lags, but the DAX (+0.52%) and CAC (+0.39%) are representative of the continent at mid-day.  As of 7:30 am, US Futures are pointing toward a mixed open.  The DIA is implying a flat -0.01% open, the SPY implies a +0.14% open, and the QQQ implies a +0.35% open.  10-year bond yields are down in early trading, but Oil (WTI) is rebounding hard (almost 2%) early to $82.44/barrel.  

The major economic news scheduled for release on Thursday includes Sept Trade Balance, Imports/Exports, Weekly Initial Jobless Claims, Q3 Nonfarm Productivity, and Q3 Unit Labor Costs (all at 8:30 am).  Major earnings reports scheduled for the day include AHCO, WMS, AES, APD, AEE, ABC, APTV, ARW, BLL, GOLD, BCE, BDX, BLDR, CNP, CQP, LNG, CI, CTXS, CNHI, CFX, COMM, CS, XRAY, DISH, DUK, DNB, ERJ, EPAM, FIS, GEO, GIL, GTN, GPRE, HBI, HWM, HII, NSIT, IBP, IRM, ICL, ITRI, K, KTB, MRNA, MUR, NOMD, NRG, OGE, OPCH, PAE, PZZA, PH, PENN, PPL, PRMW, PWR, QRTEA, REGN, REYN, SO, SRLP, TRGP, TGNA, VIAC, VSTO, VNT, VMC, W, WCC, ZBH, and ZTS before the open.  Then after the close, AMRK, ABNB, LNT, ATUS, AIG, COLD, AMN, BGS, BHF, BKD, CVNA, CC, CNDT, ED, CVET, BAP, CWK, DK, DBX, ENDP, EOG, EXPE, FSLR, FND, FTNT, IAC, IHRT, ILMN, LYV, MTZ, MELI, MTD, MCHP, MNST, MSI, NWSA, OXY, ZEUS, OTEX, CNXN, PDCE, PTON, PFSI, PINS, RDFN, RGA, REZI, RKT, SEM, SWLS, SFM, SQ, TDS, UBER, USM, and WELL report.

Once again we got a flood of earnings. And yet again the large majority of them were very positive. Add to that the fact that the market loved the certainty and specifics offered by the Fed yesterday afternoon, and you have a strong bullish setup. However, we also need to remember that we are extended and coming off of many days straight of new all-time highs. So, it is about time for some extension relief in the form of consolidation or pullback.

With that said, bear in mind that the market can remain very extended longer than you can stay solvent being right early. Also, remember that long-term trading success has never come from betting on a reversal to come. The trend is our friend.

Focus on your trade rules and on managing the things you can control. That should include consistently taking profits when you have them and moving your stops in your favor. Watch your current positions before looking to add any new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: BILI, AG, APA, XLE, CVX, ADBE, CHWY, TDOC, DKS, DG You can find Rick’s review of tickers on his YouTube Channel here. 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 basically flat on Tuesday and then very slowly crept higher over the course of the day.  This left us with white candles that closed near the highs of their candles, with all 3 major indices closing at new all-time high closes again.  On the day, SPY gained 0.39%, DIA gained 0.40%, and QQQ gained 0.42%.  The VXX fell to 20.54 and T2122 fell just outside the overbought territory at 78.72.  10-year bond yields fell to 1.545% and Oil (WTI) fell two-thirds of a percent to $83.51/barrel.

After hours, AKAM, AMGN, MDLZ, ATVI, VRTX, PRU, VRSK, OKE, DVN, PKI, and AMCR all beat on both lines.  TMUS beat significantly on earnings but missed on revenue.  On the opposite side, EIX missed on revenue but beat significantly on revenue.  However, WU missed on both lines. 

In other after-hours news, BBY spiked hard as they announced they are launching a digital marketplace to sell third-party products.  They also announced a collaboration between BBY and KR.  Finally, they said their stock buyback program was ahead of schedule.  Elsewhere, the CDC gave final approval for immediate distribution of the PFE vaccine for children ages 5–11.  MDLZ also announced they will raise the prices of their main product lines (Oreo, Ritz Crackers, and Sour Patch candy) by 7% in 2022 after saying they are expecting costs to rise 6%.

So far this morning, MAR, ETR, EVRG, NI, CPRI, HFC, CVS, EXC, BR, and BWA have all reported beats on both lines.  HUM, EMR, CTRA, and CDW beat on earnings but missed on revenue.  DISCA, DISCK, and NCLH beat on revenue but missed on earnings.  There were no reported misses on both lines.

Overnight, Asian markets were mostly red in modest trading.  Australia (+0.93%) and Taiwan (+0.33%) were the only bullish exceptions.  South Korea (-1.25%) was also an outlier to the downside.  However, Japan (-0.43%), Shanghai (-0.20%), and Shenzhen (-0.07%) were typical of the spread in the region.  In Europe, markets are mixed as of mid-day, also on mostly modest trading.  Portugal (-1.96%) is a huge outlier, but the FTSE (-0.27%), DAX (-0.03%), and CAC (+0.08%) are more typical of the continent.  As of 7:30 am, US Futures are pointing toward a flat open in the US as well as we wait on the Fed announcements.  The DIA implies a -0.13% open, the SPY is implying a -0.10% open, and the QQQ implies a +0.06% open at this hour.  

The major economic news scheduled to release on Wednesday includes Oct. ADP Nonfarm Payrolls (8:15 am), Sept. Trade Balance (8:30 am), Oct. Services PMI (9:45 am), Sept. Factory Orders and Oct. ISM Non-Mfg. PMI (both at 10 am), Crude Oil Inventories (10:30 am), FOMC Interest Rate Decision and Statement (2 pm), and the Fed Chair Press Conf. (at 3:30 pm, a non-normal time).  Major earnings reports scheduled for the day include AMRX, ATH, AAWW, BDC, BGCP, BWA, EAT, BR, BIP, CWH, CPRI, CDW, FUN, CRL, CLH, SID, CTRA, CVS, DISCA, EMR, ETR, EVRG, EXC, EXPI, HFC, HZNP, HUM, JLL, MKL, MAR, NYT, NI, ODP, OMI, PSN, PBI, PLTK, PRG, RRD, SMG, SBGI, SITE, SPR, SHOO, SUN, SYNH, TT, TUP, VNTR, VRTV, and VSH before the open.  Then after the close, ALB, ALL, UHAL, APA, ACA, EQH, BKNG, CENX, CF, CHNG, CAKE, CLR, CTVA, CW, DXC, EA, ET, NVST, EQIX, ETSY, FLT, FOXA, GFL, GDDY, H, ICLR, IR, ITT, KL, LHCG, LBTYA, LNC, LUMN, MATX, MET, MGM, NUS, PTVE, PARR, PXD, QRVO, REGI, ROKU, RYI, SWN, SUM, TTWO, TRMB, TPC, VVV, XP, and YELL report.

Earnings continue to be very strong for the most part. However, it seems markets around the world are waiting on today’s big dump of data and in particular the Fed announcements. The Fed moves have been widely telegraphed for quite some time, but Mr. Market seems to want to hear the words to remove all doubt. In the meantime, the bulls have been running wild, with the major indices at all-time highs after a very strong 3-week streak. So, the trend is strongly bullish, the Fed news is believed to already be known (bond-buying taper starting and inflation is going to last longer than the FOMC originally thought). That puts the risk on the downside (unexpected bad news could hurt twice as bad). Be prepared.

Keep in mind that while we are extended, the market can remain very extended longer than you can stay solvent being right early. Long-term trading success has never come from betting on reversals. Remember, the trend is our friend. Focus on your trade rules and on managing the things you can control. And that should include consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: BGFV, BIG, BTBT, CHWY, BX, X, MU, ORCL, LVS. You can find Rick’s review of tickers on his YouTube Channel here. 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

Stocks opened up slightly higher Monday and then drifted sideways in waves all day that closed on an up-wave.  This left us with gap-up Hanging Men-type candles in the SPY and QQQ as well as a Doji in the DIA.  On the day, SPY gained 0.17%, DIA gained 0.25%, and QQQ gained 0.33%.  This left all 3 major indices at all-time high closes again.  The VXX fell 1.5% and T2122 jumped up deep into the overbought territory at 94.431.  10-year bond yields were flat at 1.559% and Oil (WTI) gained half of a percent to $83.95/barrel.

Related to Federal spending, the Treasury Department announced late Monday that it is increasing the expected amount of borrowing to $1.02 trillion during Q4, which is up about $314 billion from the August estimate of $703 billion.  In a related story, the Federal Budget, Debt Ceiling Increase, and Infrastructure bills are back in doubt as WV Senator Manchin announced he “may not” support the $1.75 trillion budget plan because he wants “greater clarity” on the impact on the national debt.  Sources told Bloomberg his main concerns are climate-related initiatives and to a lesser degree social spending initiatives as might be expected.  On the opposite side, Progressive Democrats won’t support the bills at lower costs or fewer social and climate initiatives.  This may be as expected since there is still a month left until the deadline created by budget and debt limit extensions. 

After hours, PSA, WMB, MCK, ANET, CLX, FANG, and HOLX all beat on both lines.  Meanwhile, NXPI, SBAC, O, VNO, and LEG beat on revenue but missed on earnings.  On the other side of the coin, MOS missed on both lines and reported that they expect the massive input price surge they have been seeing to continue in Q4.

In earnings this morning, BP, MPC, PFE, DD, ETN, COP, EL, LDOS, HSIC, MPLX, GPN, WLK, KKR, WEC, ROK, TRI, UAA, SEE, XYL, ZBRA, AMEIT, CTLT, LCII, LPX, IDXX, WAT, and TMX all beat on both lines.  LEA, MLM, NXST, GNRC, BLD, SRCL, and HSC missed on earnings but came in at least in line on revenue.  Only ARNC has missed on both lines so far

Overnight, Asian markets were mixed, but leaned to the red side as Chinese fears over the real estate market flare again and Beijing has halted flights again to combat Covid-19.  South Korea (+1.16%) was the leader to the upside.  Meanwhile, Shanghai (-1.10%), Indonesia (-0.91%), and Shenzhen (-0.69%) paced the losses.  In Europe, markets are also mixed at mid-day.  The FTSE (-0.42%), DAX (+0.52%), and CAC (+0.32%) are typical of the spread across the continent as talk of climate initiatives lead all news in Europe the last couple of days.  As of 7:30 am, US Futures are pointing toward a flat open.  The DIA is implying a +0.02% open, the SPY implies a -0.02% open, and the QQQ is implying a -0.18% open at this hour.  10-year bond yields are down slightly and Oil (WTI) is off by half of a percent in early trading.  

There is no major economic news scheduled for release on Tuesday.  Major earnings reports scheduled for the day include PFE, CRSR, RACE, UAA, CTLT, BP, EL, COP, GPN, GNRC, LPX, RL, ARCB, EPD, ROK, MPC, ZBRA, CMI, BHC, BLMN, MPLX, DD, LGIH, IDXX, KKR, LEA, AME, IT, MLM, ETN, LDOS, SEE, ARNC, INCY, WLK, HSIC, LCII, APO, PEG, BLD, MMP, WAT, NXST, WEC, HSC, XYL, CIGI, TRI, INGR, SRCL, and TMX before the open.  Then after the close, ATVI, AKAM, AMCR, DOX, AMED, AFG, AWK, AMGN, ANDE, ARGO, AIZ, BTG, BFAM, CZR, CHK, DCP, DVN, EIX, ENLC, FMC, FNF, FRG, HLF, KAR, LYFT, MANT, MTCH, MCY, MOD, MDLZ, OKE, OVV, PKI, PAA, PRU, SKY, SEDG, STE, SGRY, TMUS, TX, UNM, VRSK, VRTX, VOYA, WU, XPO, ZG, and Z report.

Markets seem to be taking a wait-and-see attitude this morning with the FOMC meeting beginning. Even though the outcome is widely expected and has been signaled by the Fed for some time (bond-buying taper begins), traders appear to want to see another card before they place more bets. Despite the fear of a slowing economic recovery and inflation, earnings continue to be mostly strong among the larger companies. Stay nimble, and don’t be surprised if we see a blase day while we wait on the Fed and Congress and COP26 speeches.

The trend remains bullish, with all 3 major indices sitting at all-time highs. Keep in mind that while we are extended, long-term trading success has never come from betting on reversals. So, remember, the trend is our friend. Focus on your trade rules and on managing the things you can control. And that should include consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: STX, CAN, BTBT, CAT, AMD, CSCO, LVS, CHWY, BB, ARKK, NIO, WFC, HPQ. You can find Rick’s review of tickers on his YouTube Channel here. 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 at the open Friday after AMZN’s terrible report the night before.  However, the bulls stepped in and gave us a gradual and wavy rally most of the day.  Then a strong surge the last 30 minutes took us out near the highs. This meant that all 3 major indices managed to squeak out a new all-time high close on strong white candles.  On the day, SPY gained 0.20%, QQQ gained 0.49%, and DIA gained 0.28%.  The VXX rose slightly to 21.44 and T2122 fell slightly to 68.05.  10-year bond yields also fell slightly to 1.557% and Oil (WTI) rose half a percent to $83.30/barrel.

AAL had to cancel 1,500 flights over the Halloween weekend, citing weather (high winds in Dallas), but also Pilot and Flight Attendant shortages.  As of Sunday, about 1% of AAL’s Monday flights had been canceled.  In other labor-related news, on Sunday Bloomberg reported that a tentative deal has been reached between DE and their striking labor union.  The agreement calls for a 10% across-the-board wage increase. 

Also over the weekend, the G20 approved the 15% minimum corporate tax agreement.  The President also tried to get an agreement on the group working together to solve global supply chain issues.  (It’s uncertain what they could do to solve those issues, but they did discuss the topic.) The same G20 group failed to reach an agreement on how to fight global warming ahead of the upcoming “COP26” climate summit this week. This is critical since 80% of global emissions are produced by G20 countries.  In addition, several more leaders have decided to skip the COP26 meeting. So, no matter where anyone stands on the topic, without a united G20 font, it seems unlikely businesses will face major new carbon costs or forced technology changes coming out of this climate meeting.

As the week starts, markets are looking ahead to both a ton of earnings (175 of the SPY report) and other major data. On Wednesday, the FOMC is expected to announce the beginning of its bond-buying taper (with the betting now forecasting the first rate hike in July 2022).  Toward the end of the week, we will get Jobless Claims, Q3 Productivity, and then October Payrolls on Friday.  So, earnings optimism may continue to energize the bulls, but waiting on more direction may also be the move for many traders.

Overnight, Asian markets were mixed on widely varying trading.  Japan (+2.61%) was a huge outlier to the upside and Malaysia (-2.01%) a huge outlier to the downside.  Hong Kong (-0.88%) was down and Taiwan (+0.48%) as mainland China was flat in front of Chinese productivity numbers coming later.  In Europe, markets are green across the board at mid-day on earnings optimism.  The FTSE (+0.51%), DAX (+0.84%), and CAC (+0.88%) are typical of the continent, with some smaller exchanges moving up over 1% in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a gap higher as confidence about earnings grows.  The DIA is implying a +0.48% open, the SPY implies a +0.45% open, and the QQQ is implying a +0.42% open at this hour.  10-year bond yields are up briskly to 1.582% and Oil (WTI) is up half of a percent in early trading.   

The major economic news scheduled for release on Monday is limited to Mfg. PMI (9:45 am) and ISM Mfg. PMI (11 am).  Major earnings reports scheduled for the day include AMG, CNA, ENBL, BEN, JELD, LDI, L, ON, PCG, and TKR before the open.  Then after the close, ANET, CAR, BRKR, BWXT, CLX, CVI, FANG, FN, HOLX, NSP, KMT, LEG, MOS, NTR, NXPI, PSA, RRX, SBAC, SPG, RIG, TA, UNVR, and WMB report.

Earnings optimism continues in premarket this morning, as to date more than 80% of reports have been beats. However, there is plenty of news that could move markets ahead this week. Stay nimble, and don’t forget that you don’t have to chase at the open. The market will present a good opportunity later…you’re not missing anything that can’t be made up. So, manage your risk.

The trend remains bullish, with all 3 major indices sitting at all-time highs. Keep in mind that long-term trading success has never come from betting on a reversal. So, remember, the trend is our friend. Focus on your trade rules and on managing the things you can control. And that should include consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: FCEL, M, QS, BTBT, BB, BMY, NKE, TDOC, XLV, CHWY. You can find Rick’s review of tickers on his YouTube Channel here. 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

Earnings continue to be the market driver as a strong group of reports overcame very disappointing Q3 GDP numbers.  As a result, markets gapped higher at the open and then had some follow-through the first hour of the day.  This died into a sideways grind in all 3 major indices and then a late-day rally took all 3 out near the highs of the day.  The DIA printed a beautiful Bullish Harami that bounced up off the 8ema, but all 3 of the major indices had strong, white bullish candles.  The SPY and QQQ both closed at new all-time high closes.  On the day, SPY gain 0.98%, DIA gained 0.65%, and QQQ gained 1.09%.  The VXX fell 3% to 21.27 and T2122 spiked to the top of the mid-range at 73.68.  10-year bond yields rose to 1.575% and Oil (WTI) rebounded hard after being down 1.5% in the premarket to close up 0.62% at $83.17/barrel.

During the day, FB announced the name it has chosen for the name change that they announced during their Q3 earnings report Monday.  The name will be “Meta” and the company will begin trading under the ticker MVRS on December 1.  The name change is similar to Google, who became Alphabet years ago.  The move reflects a FB shift in emphasis away from social media and toward what it believes is the next major trend, “virtual reality.”  This is the reason the name was announced at a VR event.

After hours, AMZN posted terrible numbers, missing badly on both earnings and also coming in $1 billion light on revenue.  The company also lowered guidance for Q4.  The other big dog name reporting after the close was AAPL, which beat on earnings but missed on revenue.  Elsewhere, TEAM, GILD, DXCM, RSG, AJG, WDC, and DVA all beat on both lines.  SBUX and FTV missed on revenue, but beat on earnings.  SGEN missed on earnings, but beat on revenue.  SYK followed AMZN’s lead and missed on both lines.

This morning Treasury Sec. Yellen is touting the Democratic $1.75 trillion spending agreement as being “anti-inflationary.”  However, moments after the agreement had been “reached,” House Progressive Democrats said they would not vote for it unless other bills are voted upon at the same time.  Elsewhere, the final earnings of the week continue to roll in.  CHTR, AON, CL, CERN, CBOE, NWL, XOM, PSX, and CHD all beat on both lines.  It is worth noting that both XOM and PSX absolutely crushed earnings estimates.  So far today, only LYB (missing on earnings, but beating on revenue) and WY and LHX (both beating on earnings, but missing on revenue) have any red on the report cards art all.

Overnight, Asian markets mixed, but leaned to the red side.  Shenzhen (+1.45%), Indonesia (+1.03%), and Shanghai (+0.82%) led the gainers.  Meanwhile, Australia (-1.44%), South Korea (-1.29%), and India (-1.05%) paced the losses.  In Europe, stocks are almost exclusively down at mid-day.  Only a slightly green Belgium and Norway are preventing a red sweep.  The FTSE (-0.18%), DAX (-0.79%), and DAD (-0.35%) are typical of the continent in early afternoon trading.  As of 7:30 am, US Futures are pointing to a red open, led by Tech.  The DIA is implying a -0.10% open, the SPY implies a -0.48% open, and the QQQ is implying a -0.87% open after AMZN missed badly and AAPL missed on revenue.  10-year bond yields are up in early trading and Oil is off slightly.    

The major economic news scheduled for release on Friday is limited to Sept. PCE Price Index, Sept. Personal Spending, and Q3 Employment Cost Index (all at 8:30 am), Chicago PMI (9:45 am), and Michigan Consumer Sentiment (10 am).  Major earnings reports scheduled for the day include ABBV, AON, BAH, CRI, CERN, CHTR, CVX, CHD, CL, XOM, FTS, FMCC, HUN, IMO, LHX, LAZ, LYB, NWL, PSX, PNM, POR, RCL, SJR, GWW, and WY before the open.  There are no reports scheduled for after the close.

The bad AMZN miss (and AAPL miss on revenue) is going to color the action in the tech sector this morning. However, overall, the vast majority of earnings have been coming in strong and most of the major earnings reports are behind us after this morning. So, be prepared for some rotation as fear may drive traders away from FANGMAN names and toward later-cycle plays. Stay nimble and remember that it’s Friday…payday…and time to prepare your portfolio for the weekend (and end of the month).

The trend remains bullish in all 3 major indices, with the two broader indices sitting at all-time highs and the Dow just inches away. Keep in mind that long-term trading success has never come from betting on a reversal. So, remember, the trend is our friend. So, focus on your trade rules and on managing the things you can control. And that should include consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: No Trade Ideas for Friday. You can find Rick’s review of tickers on his YouTube Channel here. 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 started the day relatively flat on Wednesday.  The QQQ rallied into the late afternoon before selling off hard the last hour of the day.  However, the large-caps started their selloff early, but again gained steam the last hour of the day.  This all left a big ugly black candles in the large-cap indices, which if you squint might be called Evening Star type.  Meanwhile, the QQQ printed a white-body Northern Star type candle (just a gap-up short of a Shooting Star).  This left the DIA and QQQ failing at all-time high level resistance and SPY pulling back to test that level as support.  On the day, SPY lost 0.44%, DIA lost 0.69%, and QQQ gained 0.23%.  The VXX gained 2.2% to 21.95 and T2122 fell to the low-end of the mid-range to 27.86.  10-year bond yields fell strongly to 1.545% and Oil (WTI) fell 3% to $82.11/barrel.

After the close, KLAC, EBAY, ALGN, ORLY, XLNX, EXR, MAA, RJF, DRE, and CINF all reported beats on both lines.  Meanwhile, EW, F, and AFL beat on earnings but missed on revenue.  CTSH, URI, and RE beat on revenue but missed on earnings.  And AVB and FLS both missed on both lines.  It should be noted that F crushed earnings by almost doubling the street estimate ($0.51 vs. $0.26 estimate).

In earnings so far this morning, MRK, LIN, AMT, MCO, HSY, LH, SIRI, CMCSA, YUM, BAX, TFX, LKQ, ABMD, NLSN, and ADS have all reported beats on both lines.  CAT, NOC, WTLW, SWK, TAP, and TXT all beat on earnings but came up short of estimates on the revenue line.  At the same time, AEP and XEL beat on revenue but missed on earnings.  Finally, TROW, NEM, and MO missed on both revenue and earnings.

In miscellaneous news out of Washington, leaks are reporting that the Budget Bill that is being negotiated between Democrats has been whittled down again.  From an original $3.5 trillion, the current size seems to be $2 trillion, but continues to move lower as more of the progressive agenda is abandoned to secure the vote of WV Senator Manchin and to a lesser degree AZ Senator Sinema. With that said, it appears a deal is very near as President Biden is expected to attend the Democratic meeting this morning, which most believe is a signal a deal will be done by then.  Simultaneous to the negotiations of the taxes and spending in the bill, CNBC reports that major business groups are already organizing to fight any new business taxes through lobbying and media spending in the states of key Democratic votes. In particular, they want to fight the “Corporate 15% Minimum Tax” that was agreed globally.

Overnight, Asian markets red across the board.  India (-1.94%), Shanghai (-1.23%), and Indonesia (-1.18%) led the losses, but the damage was universal in the region.  This came as a higher producer price index and continued electricity crunch are raising the possibility of stagflation down the road a couple of quarters.  In Europe, the picture is more mixed at mid-day.  The FTSE (-0.28%) and DAX (-0.10%) are slightly lower, but the CAC (+0.60%) is among the half of the continent that is in the green in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a green opening as earnings continue to come in strong.  The DIA is implying a +0.25% open, the SPY implies a +0.33% open, and the QQQ is implying a +0.58% open at this hour (and ahead of major economic news).  10-year bond yields are up just slightly and Oil (WTI) is off 1.5% in early trading.     

The major economic news scheduled for release on Thursday is limited to Q3 GDP and Weekly Initial Jobless Claims (both at 8:30 am) and Sept. Pending Home Sales (10 am).  Major earnings reports scheduled for the day include AOS, AGCO, ATI, ADS, AB, MO, AEP, AMT, BUD, AMBP, AVNT, BAX, BC, CARR, CAT, CBRE, CHKP, CMS, CMCSA, DQ, DBD, EXP, EME, FCN, GVA, GPI, HSY, HTZZ, HBAN, ITW, ICE, JHG, KBR, KEX, LH, LECO, LKQ, MDC, MA, MD, MDP, TAP, MCO, COOP, NEM, NLSN, NOK, NOC, NVT, ORI, OSK, OSTK, PATK, PBF, BTU, RLGY, RS, RDS.A, SAIA, SNY, SNDR, SHOP, SIRI, SAH, SWK, STM, TROW, TFX, TPX, TXT, VC, WST, WEX, WLTW, XEL and YUM before the open.  Then after the close, ACHC, AMZN, AAPL, ATR, AJG, TEAM, AVTR, AVT, CHE, COLM, DVA, DECK, DXCM, EMN, ERIE, FE, FMX, FTV, GILD, HIG, HUBG, LPLA, MHK, RSG, RMD, SKX, SKYW, SSNC, SBUX, SYK, TEX, TXRH, TFII, X, VALE, WERN, WDC, INT, and AUY report.

Again, the flood of earnings is going to be a main driver. However, don’t overlook the Q3 GDP number possibly changing the mood among traders. Again, I would characterize the reports last night and so far this morning as largely positive. However, there were a handful of high visibility misses, such as TROW and MO as well as CAT missing on revenue. So, be prepared, stay nimble and remember that it is the actual market reaction to the news…not the news itself…that is really important to traders.

The trend remains bullish despite yesterday’s candles and all 3 major indices are still sitting very near all-time highs. Remember, the trend is our friend, but also keep in mind that big dogs AAPL and AMZN report tonight. So, focus on your trading process and on managing the things you can control. Remember that it’s discipline and good trading rules that will win in the long run. And that includes consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: LC, PLBY, LCID, MRVL, F, MCD, OPEN, LVS. You can find Rick’s review of tickers on his YouTube Channel here. 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 were fairly volatile intraday on Tuesday.  All 3 major indices gapped higher and ground sideways for an hour, but then sold off hard, back to the previous close before rallying again and then selling off again the last 15 minutes of the day.  After all of that, the 3 major indices ended up little changed.  All 3 printed black body candles with at least some higher wick and the two large caps closing near their lows.  On the day, SPY gained 0.10% (to another new all-time high close), DIA lost 0.01%, and QQQ gained 0.28% (after having been at a new all-time high intraday).  The VXX gained 2% to 21.47 and T2122 fell out of the overbought territory to 70.12.  10-year bond yields fell to 1.612% and Oil (WTI) rose about 1% to $84.58/barrel.

After hours, AMD, MSFT, GOOG, V, CB, CHRW, and FFIV among others all easily beat on both lines.  Meanwhile, TXN beat on earnings but missed on the revenue line.  TWTR posted misses on both lines, including a terrible miss on earnings.

In premarket earnings reports, TMO, MCD, BMY, ADP, FISV, TEL, KHC, HLT, GRMN, AVY, MAS, HOG, and KO all delivered beats on both lines.  Meanwhile, CME, BSX, IP, GD, and WAB beat on earnings while coming up short on revenue.  In the opposite camp, DTE and ROL missed on earnings, but beat on revenue.  IP was the only report to miss on both lines so far today.

In political news, Senate Democrats unveiled their 15% Corporate Minimum Tax proposal on Tuesday.  It is important to note that despite the name, the tax would only apply to companies that book $1 billion in profit for 3 consecutive years AND it includes credits as well as carry-forward of losses to offset the tax.  On the health side, the FDA Advisory Panel also recommended that the FDA approve the PFE vaccine for kids aged 5-11 (in low doses).  If the FDA does approve this use of the PFE vaccine, then CDC Dir. Walensky is expected to sign off and shots could begin immediately.

Overnight, Asian markets leaned heavily to the downside.  Singapore (+0.42%), Taiwan (+0.24%), and Australia (+0.07%) were the only green in the region.  At the same time, Hong Kong (-1.57%), Shenzhen (-1.10%), and Shanghai (-0.98%) led the region lower.  The same story is taking shape in Europe at mid-day.  The FTSE (-0.08%), DAX (-0.26%), and CAC (-0.25%) are typical of the continent with only a flat Greece and Belgium avoiding a red sweep in early afternoon trading.  As of 7:30 am, US Futures are still pointing to a flat open.  The DIA is implying a +0.05% open, the SPY implies a -0.05% open, and the QQQ is implying a -0.11% open at this hour.  At the same time, 10-year Bond yields are down significantly to 1.59% and Oil (WTI) is off 1.25%.

The major economic news scheduled for release on Wednesday is Sept. Durable Goods Orders, Sept. Trade Balance, and Sept. Retail Inventories (all at 8:30 am) and Crude Oil Inventories (10:30 am).  Major earnings reports scheduled for the day include APH, AIT, ARES, ADP, AVY, BA, BCO, BMY, BG, CME, KO, CSTM, DTE, EVR, FISV, GRMN, GD, GM, HOG, HES, HLT, IP, KHC, MHO, MAS, MCD, NSC, ODFL, OC, PAG, ROL, R, SLGN, SIX, SPOT, TMHC, TEL, TDY, TEVA, TMO, TNL, UMC, VRT, and WAB before the open.  Then after the close, AFL, AEM, ALGN, ALSN, NYL, AR, ACGL, ASGN, AVB, AXS, BHE, BMRN, CACI, CG, CCS, CHX, CNO, CTSH, FIX, CYH, EBAY, EW, ESI, EHC, ENSG, EQT, RE, FLEX, FLS, F, THG, INVH, JBT, KLAC, MTH, MEOH, MKSI, MOH, MUSA, MYRG, ORLY, OII, PPC, PLXS, PPD, RJF, SIGI, SCI, NOW, SNBR, STC, SU, TDOC, TROX, TTMI, TWLO, UCTT, URI, WCN, WFG, XLNX, and YUMC report..

Once again, the flood of earnings is going to be the driver today, at least early on. I would characterize last night’s reports as well as those that are already out this morning as largely positive. However, there were some misses on either earnings or revenue. There were even a couple of companies that missed on both. So, as always, it isn’t necessarily the news (earnings) that matters, but instead what’s most important is how Mr. Market reacts to that news. Be prepared, either way.

The trend remains bullish and the large-caps are still sitting at all-time highs (with the tech-heavy QQQ just below that breakout). Remember, the trend is our friend, but also keep in mind that more of the AAPL and AMZN report tonight. So, focus on your trading process and on managing the things you can control. Remember that it’s discipline and good trading rules that will win in the long run. And that includes consistently taking profits when you have them and moving your stops. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: NNDM, XELA, NIO, CHPT, SLV, FSM, F, GM, MS. You can find Rick’s review of tickers on his YouTube Channel here. 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 higher, immediately traded lower, and then began a steady rally into the mid-afternoon.  There was some late-afternoon sag, but all 3 major indices closed as gap-up white candles.  The DIA printed another Doji-type candle and the SPY printed a Spinning Top-type candle.  On the day, SPY gained 0.54% (a new all-time high close), DIA gained 0.23% (a new all-time high close), and QQQ gained 1.02%.  The VXX fell 3% on the day to 21.03 and T2122 remains in the overbought territory at 86.97.  10-year bond yields fell (after being higher in premarket) to 1.634% and T2122 fell slightly (again, after being up a percent during the premarket) to $83.47/barrel.

TSLA was the big winner on the day crossing above $1 trillion market cap on a 12.7% gain.  This move came on premarket news that Hertz has ordered 100,000 of TSLA’s electric vehicles by the end of 2022.  After the close, FB missed on revenue by close to $600 million but still beat slightly on earnings.  (Monthly active users were down a bit, but daily average users were in line with expectations.)  UHS reversed the results, beating slightly on revenue but missing on the earnings line.  Meanwhile, CDNS and ARE beat on both lines.

After the close, FB missed on revenue by close to $600 million but still beat slightly on earnings.  (Monthly active users were down a bit, but daily average users were in line with expectations.)  UHS reversed the results, beating slightly on revenue but missing on earnings.  Meanwhile, CDNS and ARE beat on both lines.

So far this morning, UPS, MMM, ADM, PNR, SPGI, CNC, and JBLU beat on both lines.  RTX, GE, and XRX missed on revenue, but beat on earnings.   Meanwhile, SHW, WM, PHM, LLY, and GLW all missed on earnings, but beat on the revenue line.  Only LMT has reported a miss on both lines at this point in the day.

Overnight, Asian markets were mixed again but leaned to the green side.  Japan (+1.77%) was a strong outlier to the upside, with South Korea (+0.94%) and Taiwan (+0.83%) being the leaders of the pack for those exchanges that were green.  Hong Kong (-0.36%) and Shanghai (-0.34%) paced the losers.  In Europe, markets are mixed, but the bulls have much more energy at mid-day.  The FTSE (+0.60%), DAX (+0.93%), and CAC (+0.71%) are leading the continent higher while smaller exchanges like Norway (-0.52%), Denmark (-0.42%), and Finland (-0.41%) are headed the other way.  As of 7:30 am, US Futures are pointing toward another bullish open.  The DIA is implying a +0.34% gap higher, the SPY implying a +0.43% gap up, and the QQQ implying a +0.62% open at this hour.  10-year bond yields are down and Oil is flat in early trading.

The major economic news scheduled for release on Tuesday is limited to Conf. Board Consumer Confidence and Sept. New Home Sales (both at 10 am).  Major earnings reports scheduled for the day include MMM, AAN, ARCH, ADM, ABG, CNC, GLW, CEQP, DAN, ENTG, FSV, GE, GPK, GBX, HAS, HUBB, IVZ, JBLU, LMT, HZO, MSCI, NVS, PCAR, PNR, PII, PHM, RTX, SPGI, ST, TRU, UBS, UPS, WM, and XRX before the open.  Then after the close, ACCO, AMD, GOOGL, AMP, AGR, BXP, BYD, CHRW, COF, CB, CSGP, DLR, WIRE, EQR, FFIV, FBHS, GOOG, HA, IEX, JNPR, LBRT, LFUS, MSFT, NBR, NCR, PFG, RRC, TER, TXN, TWTR, V, and ZWS report.

Earnings are going to be the driver again today. So far today, it has been more of a mixed bag of reports among majors than we have seen early this earnings season. The trend remains bullish and the large-caps are sitting at all-time highs (with the tech-heavy QQQ closing on that blue sky fast). Remember, the trend is our friend, but also keep in mind that many of the FANGMAN big dogs report tonight. So, it’s possible we see some caution in at least the QQQ as traders wait to hear from GOOG, AMD, and MSFT tonight and then AAPL and AMZN on Wednesday. Be prepared, either way.

Focus on your trading process and on managing the things you can control. Remember that it’s discipline and good trading rules that will win in the long run. And that includes consistently taking profits when you have them. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: OPEN, ORCL, MRVL, CHWY, FUBO, FSLY, CHPT, NIO. You can find Rick’s review of tickers on his YouTube Channel here. 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 in the large caps, but the QQQ gapped down a third of a percent on Friday.  After indecision the first hour, all 3 major indices saw a selloff the last hour of the morning.  From there was a sideways drift with a slight bullish slope.  This left us with indecisive candles in all 3 major indices, a Doji in the SPY, a white Spinning Top in the DIA, and a Black Spinning Top in the QQQ.  On the day, SPY lost 0.08%, DIA gained 0.23% (to close at a new all-time high close by a few cents), and the QQQ lost 0.84%.  The VXX rose more than 2% to 21.70 and T2122 slipped slightly but remains in the overbought territory at 85.90.  10-year bond yields fell to 1.641% and Oil (WTI) rose almost 2% to $84.09/barrel.

Bloomberg reported Sunday that China is expecting a new Covid outbreak to get worse in the coming days.  As a result, they have begun locking down some cities and regions (not to the provincial level yet).  If there is any silver lining to this cloud, it is that the current outbreak is mostly in the northern provinces such as Inner Mongolia, which are not the important manufacturing or shipping regions. So, from a global supply chain perspective, this is as good as such a cloud gets.

Over the weekend in Europe, Brexit was back in the news.  The British PM Johnson has been threatening to unilaterally suspend the portion of the post-Brexit trade deal related to Northern Ireland.  So, on Friday the EU began internal discussions about terminating the entire trade deal in the case that Britain breaks the portion related to Northern Ireland.  The two sides also began intense negotiations to avoid the break.  The Pound fell half a percent on this news.  If the deal were to be scrapped, it would wreak havoc with the UK economy at least for months.

This morning Bloomberg is reporting that FB has been keeping investors in the dark about an alarming new trend that is accelerating.  This was part of the basis (if not the media/Congress publicized reason) behind the SEC whistleblower complaint in early October.  It seems that researchers inside FB reported to executives in late March that teens (13-17) and young adults (18-29) are spending far less time and sending fewer messages in the last year.  In fact, fewer teens are even signing up to the platform.  The most troubling fact is that users across all age groups are creating fewer posts at a time when logically they were home more and had very little in the way of other social outlets. Obviously, these trends are a major threat to the company’s advertising business and is the driver behind the recent massive increase in FB marketing efforts.

Overnight, Asian markets were mixed.  Shanghai (+0.76%) and Shenzhen (+0.72%) led to the upside.  Meanwhile, Japan (-0.71%) and Thailand (-0.56%) paced the losses.  In Europe, markets are also mixed as of mid-day.  The FTSE (+0.38%) and DAX (+0.19%) are modestly higher, while the CAC (-0.20%) and many of the smaller exchanges are down in early afternoon trading.  As of 7:30 am, US Futures are pointing toward an open just on the green side of flat.  The DIA is implying a +0.04% open, the SPY implies a +0.12% open, and the QQQ implies a +0.26% open to start the week.  10-year bond yields are up to 1.663% and Oil (WTI) is up a percent in early trading. Finally, contrary to reports last week, PYPL announced that it’s not interested in buying PINS at this point.

There is no major economic news scheduled for release on Monday.  Major earnings reports scheduled for the day include ARLP, HSBC, IBA, KMB, LII, OTIS, and QSR before the open.  Then after the close, ARE, AXTA, BRO, CDNS, CR, CCK, FB, LOGI, OI, PKG, SSD, SUI, TBI, and UHS report.

As we head into a heavy earnings week, the rest of the world looks to be waiting on more direction. The bullish trend is getting some relief from over-extension and that rest may continue today as the market wants to see another earnings card before placing its next bet. So, the bulls remain in control of the trend, but biding time may be the order of the day. Remember, FB reports tonight, GOOG, AMD, and MSFT report Tuesday, and AAPL and AMZN report Wednesday…just among the FANGMAN leaders. Those reports could make major waves in the market. Be prepared.

Remember that it’s discipline and good trading rules that will win in the long run. And that includes consistently taking profits when you have them. Focus on your trading process and on managing the things you can control. Watch your current positions before looking to add new trades. Trade carefully and think twice about holding through earnings.

Ed

Swing Trade Ideas for your consideration and watchlist: APA, CLF, ARKK, EOG, DVN, HAL, BP, KRE, SAM, PFE, JNJ, ORCL, M. You can find Rick’s review of tickers on his YouTube Channel here. 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 slightly lower on Thursday and then waffled around while the bulls found their footing.  However, by mid-morning a slow, steady rally was underway that ran all the way into the close.  This marked the 7^th straight higher close in the SPY and gave us a new all-time high close. DIA just missed both marks while printing a Hanging Man-type candle.  Meanwhile, the QQQ printed a Bullish Engulfing candle. On the day, SPY gained 0.28%, QQQ gained 0.61%, and DIA lost 0.02%.  The VXX fell 3% to 21.22 and T2122 backed off just a bit but it remains deep in the overbought territory at 92.8.  10-year bond yields rose again to 1.69% and Oil (WTI) fell almost a percent to $82.66/barrel.

During the day, cryptocurrencies took a hit as an algo ran amuck on one of the major exchanges.  Binance reported that one of their institutional traders suffered an error in their algorithm.  This caused massive selling which drove the price of Bitcoin from $65,000 down to $8,200 (down 87%) before immediately snapping back.  So, it was similar to the stock market flash crash from 2010.  At the time of Thursday morning’s crash, $40 million of bitcoin was traded on the Binance exchange.

After the close, INTC and WHR both missed on revenue but handily beat on earnings.  INTC in particular decried the chip shortage for hurting its personal computer business.  Meanwhile, CMG, SIVB, CE, and RHI all beat on both lines.  However, SNAP missed on both lines and got crushed in post-market trading.  Analysts are expecting the SNAP miss to read through to other online advertising platforms as the company specifically cited the AAPL opt-in vs opt-out privacy policy as impacting ad revenue.

So far this morning, the strong earnings continue as DHR, MMC, IQV, TSCO, KEY, DGX, IPG, SNA, VLO, LUV, AAL, and ALK have all posted beats on both the top and bottom lines.  However, ALLE and T both missed on revenue while beating on earnings.

Overnight, Asian markets were mixed in modest trading.  Singapore (+0.52%), Hong Kon (+0.42%), and Thailand (+0.36%) led to the upside.  Meanwhile, India (-0.35%) and Shanghai (-0.34%) paced the losers.  However, in Europe markets are strongly green across the board at mid-day.  The FTSE (+0.54%), DAX (+0.85%), and CAC (+1.11%) are typical of the spread across the continent, but many of the smaller exchanges are following the French lead in early-afternoon trading.  As of 7:30 am, US Futures are pointing toward a mixed, modest opening.  The DIA is implying a +0.21% open, the SPY implies a +0.12% open, and the QQQ implies a -0.16% open at this hour.  10-year bond yields are down slightly and Oil (WTI) is up two-thirds of a percent in early trading.

The major economic news scheduled for release on Friday is limited to Mfg. PMI and Services PMI (both at 9:45 am), Federal Budget Balance (2 pm), and a couple of Fed speakers (Daly at 10 am and Chair Powell at 11 am).  Major earnings reports scheduled for the day include AIMC, AXP, ALV, CLF, DSKE, GNTX, HCA, HON, RF, ROP, SLB, STX, and VFC before the open.  There are no reports after the close.

Once again the bulls have refused to yield. So far, it looks like they are going to continue that drive toward blue-sky at the open today. With that said, we certainly appear to be working on borrowed time. It is not very often that you see this many white candles and green closes in a row. So, be careful. In particular, some traders might be looking to take profits after the run and heading into the weekend. So, be prepared for a pullback or at least a rest. As mentioned in recent days, don’t be chasing the rally. Let the market (and trade) come to you and trade carefully.

The weekend is upon us. So, think about how you want your portfolio to be adjusted ahead of the weekend news cycle. Take profits, hedge, and/or move stops as appropriate. You’re not missing anything if you don’t chase new positions. Remember it takes twice as long to recover losses, so the first rule of making big money is not losing big money. It is discipline and good trading rules that will win in the long run. And that includes consistently taking profits when you have them. Focus on your trading process and on managing the things you can control (while not worrying about things you can’t influence). Finally, watch your current positions before looking to add new trades.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas for Friday. You can find Rick’s review of tickers on his YouTube Channel here. 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