futures Archives - Page 107 of 128 - Hit & Run Candlesticks

Below Significant Support

October 3, 2019 by Rick Saddler

The market (SPY), Yesterday October 2^nd the sellers were able to bring the SPY down through significant support closing below our Dotted Duece (200FWL). The 200-FWL is where the SPY found support (buyers) rallied back in August 6.6% to challenge the July top. If tomorrow’s unemployment numbers are reasonable, we could see money flowing again in the marker. As for yesterday’s candle, we may see an oversold bounce, but ultimately the 200-SMA on the daily chart is the next target which will be the August lows. More weakness from the 200-SMA the sellers would have their eyes on the January lows or about $273.50

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T-Line and T-Line Channels, The weekly chart price action has now brokedown through all the of the bullish trending T-Line Bands, more weakness below the Bands would require a more powerful reversal signal/pattern to be an essential reason for an optimistic outlook. On a side note, the T2122 chart has the T-Line deep into the oversold area on both the daily and weekly charts. The VXX chart is turning quite bullish after the consolidation on and above the T-Line Bands. Yesterday’s gap woke a ton of traders up! Take a look at you 4-hour chart with the bands…they have reversed to point upward. Be ready for anything.

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The bottom line, With the market trending down and getting near the daily 200-SMA, we want to protect our short trades with stops or even taking a few profits. At the same time, we want to start building a bullish watchlist in case the bulls begin to get perky. If you did not catch the recent bearish run be careful not to chase do to ”FOMO” (Fear of missing out), you will get another chance.

Rick

Sorry there are no trade ideas today. We wish you a fantastic weekend.

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🎯 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.

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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Bearish Oreo Cookie

October 2, 2019 by Rick Saddler

The market (SPY), Another lower low, Bearish Engulf, and a Bearish Oreo Cookie pattern. Yesterday was a particularly bad day for the market. The pre-market futures this morning don’t seem to be finished pushing the market either. As we have been posting, below $297.95 was the line that the bulls needed to capture, below $297.95 was chop and dangerous place to be buying to my longs, and closing below $293. 70 was going to bring in a bear storm. Right now I don’t see too much from stopping the bears sell us off to the $ 290.00, $288.80 area. We had bought some VXX yesterday with a possible move offer the $25.00 Line (so far so good. Over the $25,00 line, we possibly could see $26.40, which would be a SWEET PROFIT. And possible challenge the $28.00 range.

T-Line and T-Line Channels, Another day below the T-Line Bands (Channels), and a lower low. The August price action makes for a smooth trend line drawn. Looking at the premarket action price is already below the line, the bears (sellers) are a bit hangry. The VXX chart us pushing up through the T-Line Bands like butter and now have established a little support over the bands.

The bottom line, We should never rule out a monster bullish reversal on any given day, but until it happens the closing candle today and the recent candles (price action) can lead us to $288.80 then possibly the August lows. Managing your portfolio is far more critical than finding new hot trades to trade. Here is a good quote I heard years ago…”Don’t eat like a bird and poop like an elephant.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Short– TSN, RPM, COST Long- SBH, FIT, HOME- Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

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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Price Below T-Bands

October 1, 2019 by Rick Saddler

The market (SPY), Yesterday was a Doji / Harami day in the SPY closing below our bullish number of $297.95 and above our bearish number of $293.69. The 34-EMA still is above the 50-SMA, and price action is hovering around both. On the hourly chart, price is in bed with the duces (200-SMA and the Dotted Deuces), the 34-EMA and 50-SMA has kept price pushed down. Price simply needs to be above $297.95

T-Line and T-Line Channels, Price action on the daily chart has fallen below the T-Line and the T-Line Channels. If the Price action gets below the $293.70 line, we should see the T-Line Channels start to lean a little to the downside. The weekly chart has price action between the two upper channels on a bullish pullback; I say bullish because the withdrawal is above the 38% retracement of the August low and September high run and above the 293.70 support line.

The bottom line, Below $297.50 and above $293.70 is just a tug a war between the buyers and sellers, think of it as one significant indecision Doji. The winner will show it’s colors soon. This flat trading can be challenging to navigate; I personally think the key is not to over trade.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. HOME, DOCU, WHR, PHM, SSNC, JBL, CLDR, SNX, HIIQ Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

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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Above $297.95

September 30, 2019 by Rick Saddler

The market (SPY), Above $297.95 today may open the gate for more buying to challenge the $300.00 level and above. The low Friday ($293.69) started to test the August, May and September 2018 support level and found the 50-SMA, the question now will the buyers be able to build a game here? Both the daily and weekly charts of the SPY show no signs of buyer Friday.

The weekly trend from June 7, to mid-August, extended still paints a bullish trend. Now if you take in the top from June you will see a double top. The chart pattern building is a weekly Ascending Triangle. IMPORTANT, if the SPY closes below the 50-SMA the bears may have cut the legs off the buyers. Beware if VXX can show strength above $25.40

The bottom line, stay calm and remember you do not have to trade every day. Cash is a position. We have bought very little over the last few trading days, but we have managed what we own and have close a few for profits. I have personally found by waiting for the reversal pattern (Bullish or Bearish) then trade the trend after that is pretty profitable.

Rick

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. DNR, CYH, XEC, PRGO, FIT, STT, NTNX, WHR, SU. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

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

Indecision, Follow-Through Needed

September 27, 2019 by Rick Saddler

The market (SPY), Wednesday’s, lower low Harami (indecision), then Tuesday’s little Hammer with a higher low indicates buyers looking, but no real commitment. On a 2-day chart, you can see the Spinning Top Doji (indecision) shows the bulls require a little help to keep price action above the support line but without a higher high the lower high.

If the SPY can get above $298.75, it’s possible; we see buyers step in and challenge the recent highs. But let’s not get to carried away just yet, so far this week the sellers have been able to push the buyers back, and there is still not a confirmed bottom from the recent 5 bars that the sellers have control.

The bottom line, This is Friday, and the futures are up premarket this morning, below $298.75 sellers have control of the SPY. Our dark chart has not given the bullish bottoming signal that we are looking for, above $298.75 would be a great start, remember that number must hold today.

Rick

Ya baby it’s Friday! For Hit and Run Candlesticks, Friday’s are more about profit-taking and getting ready for the weekend. There are no watch-list updates on Fridays. We wish you a fantastic weekend.

✅ SMS text alerts and reminders?👈

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🎯 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

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

Nice Day in Down Trend

September 26, 2019 by Rick Saddler

US Markets held support and bounced nicely on Wednesday, but did give up a little of their gains late. However, we must recognize that no reversal candle signals were printed by the indices and at best we had Harami (indecision) in the SPY and DIA.

This leaves us with nothing more than a nice white candle in a downtrend, but at support at this point. Not a very clear picture by any measure.

Today’s economic news includes Q2 GDP at 8:30 am and Aug. Pending Home Sales at 10 am. We will also hear from the lone FOMC dissenter who wanted more of a rate cut (Bullard) as well as a few other Fed members speaking.

As of 7:30 am, US futures are pointing to small gains, falling in line with Asian and European markets (which were all green overnight). The big boys (Dow and S&P) are pointing to a 0.25% and the NASDAQ a 0.15% gap higher. This will put us close to retesting the downtrend.

The bottom line is we might expect a higher-high off follow-through from Wed. action and global gains. However, that downtrend has not been broken yet. Caution and avoiding the whip are the smart plays.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Long: PRGO, EXC, GT, NUS, DOW, OLN, ETR, CRCM, GPRE, HOME, CM. Short: IPG, YUM, QSR, BLL. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

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

Can Support Hold?

September 25, 2019 by Rick Saddler

The UK Parliament is back in session, with their attention not focused on Brexit, but at least at the moment on beating up Government Ministers over why they advised what they advised that led PM Johnson to think he could get away with suspending Parliament for 5 weeks. The other major news overnight was the US Congress beginning a formal Impeachment Inquiry against President Trump (although that was expected).

Overnight Asian and European markets followed the lead from yesterday’s US markets with bright red numbers across all major indices.

Today’s economic news is limited, with Aug. New Home Sales at 10am and US Oil Inventories at 10:30am. I’m not so sure either of those will make any splash against the backdrop of political news and the bears taking control of charts the last several days.

As of 7am, US futures are pointing to a small continuation of the Bearish move. The big boys (Dow and S&P) are pointing to a 0.10% and the NASDAQ a 0.25% gap lower.

The charts tell us the short-term trend is clearly bearish, with the all 3 major indices showing failing spectacularly after a strong bullish gap up at the open. They ended up printing bearish continuation signals across the board Tuesday. In the process, the QQQ also gave up the 50sma as potential support. However, if there is a ray of hope, it is that the SPY and IWM both tested and held their 50sma yesterday…and if you might say we tested the area of the 50sma and held it in the DIA. Can that support hold is the key question?

The bottom line is that it is very hard to swing trade these markets until we get less whiplash and range chop and more of that good old consistent trend action.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Long: AIZ, ARMK, CCJ, DE, ES, EXC, JACK, UNM. Short: EGHT, QSR, SBUX, CDNS, YUM, CTAS, TWLO, VRNT, MA, ACN. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

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🎯 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

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

More Uncertainty

September 24, 2019 by Rick Saddler

Overnight, the big news was that the UK Supreme Court has ruled that the suspension of the UK Parliament was unlawful and void (11-0 unanimous decision). In fact, it ruled the suspension did not happen and Parliament is still in session.

The Speaker of Parliament has said the House of Commons will sit again Wed. morning. It’s unclear exactly what that means in practical terms (who controls the agenda once they meet, what members of the PM’s team get the axe and how this impacts Brexit). There was even talk about the PM himself needing to step down. Needless to say, this does give the “No – No Deal Brexit” and “New Referendum” camps a stronger hand…and if you believe PM Johnson, hurts the UK negotiation position with the EU.

On the US news front, apparently President Trump was completely unaware (and shocked to hear live in front of the press) that it was the US Negotiators who canceled meetings and asked the Chinese to leave without touring the US farm belt. (Speculation is that Treasury Sec. Mnuchin did not want the US public to wrongly assume from such a tour that a deal was near.) Also, two Fed speakers implied that even the most Dovish FOMC member foresees only 1 more cut this year and the majority say none.

For markets, this is all just more of what traders love…uncertainty. (That’s sarcasm.)

Markets ended Monday flat after a gap down as the short-term trend continues to be Bearish. However, there is clear potential support just below. Futures are pointing higher at the moment about half a percent. Overall, I read this as more chop until we can break out to new highs.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Long: CCJ, VZ, PG, FRAC, GT, CPRI, HOME, TUP, LEN, APA, DLTR, WFC, OLN. Short: QSR, TWLO, HEI, HCA, VRNT, BLL, ROL, FIS. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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

Waiting on News

September 23, 2019 by Rick Saddler

On Friday all the major indices fell further after the latest failure at all-time high resistance. Dovish spin in the news (related to a China Trade Deal) was met by the President saying a small deal would not be enough for him to lift tariffs. There was slightly positive news out of Brexit negotiations (if you’re smart enough to handicap that race), but a UK Court Ruling early this week will stir that pot again.

Coming off Friday’s ugly candles, we would expect a lower low today. The futures are indicating a minor move down at this point (a tenth of a percent). With that said, we have previous support not far below in all indices with the VXX having resistance just above.

Personally, I will use the short-term trend as a guide, expecting the pullback to continue until the bull prove otherwise. With no major news on the calendar for Monday, I expect this news-driven market to drift more before getting a push. Bulls have looked for any excuse to buy, but at this particular moment, I don’t see one yet today.

For Your Consideration: Here are a few tickers we will be adding to our swing trade watch-list. Long: CELG, CNP, CNQ, CVS, DOW, DUK, GT, HCSG, KIM, L, LEN, NRG, VZ. Short: BLL, EGHT, FIS, HCA, HEI, MA, SBUX, VRNT, YUM. Trade smart, and trade your trade. Stocks we mention and talk about are not recommendations to buy or sell.

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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

Slow Grind

September 20, 2019 by Rick Saddler

The market (SPY), The slow grind higher starting in December 2018 certainly has been a grind and at times seems like we are just crawling. But if you look at a weekly chart on the SPY, you can clearly see we have moved about 70 points, not bad for the SPY.

On the daily chart, you can see that the past 10-11 trading days has been that slow (crawl) grind I was talking about. Yesterday the SPY formed a little Shooting Star, double top, (sounds painful). Well, it could be with follow through to the point of cracking the trendline until then we simply have the slow grind higher. With the T-Line and T-Bands still moving up and price action above all the T-Bands, it implies the bulls (buyers) are still in control. While price action the last few days has been a bit slow I continue to see bullishness with reasonable profit-taking along the way.

The I path Series S&P 500 VXX Short Term Futures ETN. The VXX closed with a little Hammer near a double bottom, and the VXX is oversold. With a bit of Bullishness, the VXX might do a little relief rally.

Ya baby it’s Friday! Friday’s are more about profit-taking and getting ready for the weekend. There are no watch-list updates on Fridays. We wish you a fantastic weekend. 🌞Rick Saddler

✅ SMS text alerts and reminders?👈

✅ Check out our newest YouTube videos👈

🎯 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

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