Markets gapped down hard in the SPY and QQQ, DIA only opened 0.35% lower on FB earnings knee-jerk reaction.  However, that was just the beginning of a volatile, roller-coaster ride downward that ended near the lows in all 3 major indices.  This left us with large black, gap-down candles with more upper wick than lower in all 3 of those indices.  On the day, SPY lost 2.32%, DIA lost 1.42%, and QQQ lost a massive 4.01%.  Both the SPY and QQQ fell through their T-lines, but the DIA was able to hold above its own 8ema.  The VXX spiked over 12% to 21.76 and T2122 dropped to 29.63.  10-year bond yields spiked to 1.831% and Oil (WTI) jumped over 2% to $90.12 (the highest price since 2014).

The market got some good economic news Thursday.  Jobless claims came in below forecast.  However, the big economic news was that Q4 Productivity came in twice what was expected (+6.6% vs. +3.2% est.) at the same time Q4 Unit Labor Cost rose only one-fifth as much as expected (+0.3% vs. +1.5% forecast).  Even January Services and ISM Services PMIs both beat forecast.  Unfortunately for bulls, that was all ignored by the market as all eyes seem to have been on FB and what their “miss and lower” would do to the rest of the big tech names.  By day end, FB was down more than 26%, dragging down TWTR (-5.56%), NFLX (-5.54%), MSFT (-3.86%), and even GOOG (-3.64%) with them.

After the close, ATVI and F reported misses on both lines while MCHP, HIG, NLOK, PRU, SNAP, SWKS, and FTNT all reported beats on both lines.  At the same time, CLX missed on earnings, but beat on revenue.  However, the most anticipated report was AMZN, which beat on earnings, but missed on revenue.  Nonetheless, it soared 19% in post-market trading on news of a Prime service price hike.  SNAP was up more than 60% on its first-ever quarterly profit. 

After hours, Reuters reported the Brazilian expected soybean harvest will be down significantly.  The Brazilian soybean forecast was reported down 14% versus forecast and this shortfall (20 million metric tons) does not factor in other South American crop shortfalls.  (These other shortfalls are expected due to poor weather in Argentina during the growing season.)  This news will likely drive US Soybean prices higher, impacting both animal and human food prices. So far this morning, REGN, APD, and CBOE have reported beats on both lines.  ETN, AON, and BMY have reported earnings beats, but all 3 missed on revenue.  RCL has not reported yet.

Overnight, the Asian markets that were open were mixed.  (All Chinese markets are closed until Feb. 4th or 5^th).  Singapore (+2.04%) and South Korea (+1.67% on its first day back from holiday break) led the gainers.  Japan (-Overnight, the Asian markets that were open were mixed.  Hong Kong reopened after the Lunar New Year holiday and played catchup, spiking 3.24%.  (Shanghai and Shenzhen are still closed.)  Beyond those, South Korea (+1.57%) led the gainers with most of the losses being in smaller markets and less than half of a percent.  In Europe, markets are mostly in the red at mid-day.  The FTSE (-0.10%) is an outlier, but the DAX (-1.51%) and CAC (-0.83%) are typical of the region in early afternoon trading.  Only Russia (+1.31%) and Portugal (+0.48%) are showing green.  As of 7:30 am, US Futures are pointing toward a mixed open.  The DIA implies a -0.36% open, the SPY is implying a -0.02% flat open, and the QQQ implies a +0.53% open at this hour.  10-year bond yields are down slightly and Oil (WTI) is making another huge upside move of over 2% in early trading.

The major economic news scheduled for release Friday includes Jan. Avg. Hourly Earnings, Jan. Nonfarm Payrolls, Ja. Participation Rate, and Jan. Unemployment Rate (all at 8:30 am).  Major earnings reports scheduled for before the market include ADNT, APD, AON, BMY, BEPC, BEP, ETN, REGN, RCL, SNY, and SPB.  There are no reports scheduled for after the close.  

The mixed premarket futures indicate indecision, but all 3 of the indices are down significantly from premarket highs. This would tend to indicate the pullback will continue, but after such a brutal day Thursday, perhaps a pause is in order for the QQQ. Whipsaw action is likely in the face of indecision. So, be careful. Remember that today is Friday and there is a weekend news cycle ahead. So, take profits where you can, get small, hedged, or lighten up on Delta.

Stick to your trading rules and manage the things that you can control. Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, don’t be stubborn, and protect yourself from yourself. If you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.) Trading is a marathon, not a sprint.

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today 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 diverged at the open Wednesday, with the DIA flat, the SPY opening half of a percent higher and the QQQ gapping up 1.2%.  All 3 major indices then meandered sideways until noon.  However, at that point, we saw a market-wide slow, steady rally all the way into the close.  This left us with a white candle in the DIA, a white Spinning Top candle in the SPY, and a black Hanging Man candle in the QQQ.  On the day, DIA gained 0.59%, SPY gained 0.97%, and QQQ gained 0.81%.  The VXX fell another 2% to 19.42 and T2122 fell just outside of the overbought territory to 76.40.  10-year bond yields fell to 1.772% and Oil (WTI) closed very slightly lower to $88.02/barrel.

The economic news for the day was a massive miss on ADP Nonfarm Employment (-301k in January vs +207k expected).  Crude Oil Inventories also came in almost 50% below expectations at 1.046m barrel. This gives us the “double whammy” of fear about a slowing economy AND fear that energy prices will remain very high. 

After the close, QCOM, MET, CTCH, AFL, ALGN, MCK, AVB, MAA, ESS, HOLX, QRVO, and FBHS all beat on both lines.  However, FB, TMUS, and GL all missed on earnings while beating on revenue.  LNC posted a miss on both revenue and earnings.  The big news of this was the FB miss, where they missed on earnings and reported lower than expected forecasts for the remainder of the year.  As a result, FB was down 25% in post-market trading, dragging many of the tech giant names along with it.

So far this morning, TMO, WM, BSX, EMR, ROP, IDXX, ODFL, DHI, AVY, ABC, JCI, and MPC have all reported beats In Fed watch news, the Bank of England raised interest rates for a second straight meeting in a unanimous vote.  That was the first consecutive meeting hike in the UK since 2004.  This 25-basis-point move raises the UK bank rate to 0.50%.  The BOE also raised its inflation forecast to now expect a peak in April of 7.25% (from the 6% peak they had forecast in December), a massive jump.

Overnight, the Asian markets that were open were mixed.  (All Chinese markets are closed until Feb. 4th or 5^th).  Singapore (+2.04%) and South Korea (+1.67% on its first day back from holiday break) led the gainers.  Japan (-1.06%) was the biggest loser of the day.  In Europe, stocks are red across the board at mid-day.  The FTSE (-0.20%), DAX (-0.44%), and CAC (-0.23%) are all down, but it is the smaller exchanges that are leading the way lower with many down 1%-2% in early afternoon trading.  As of 7:30 am, US Futures are pointing to a divergent, but significant gap lower.  The DIA implies only a -0.22% open, the SPY is implying a 1.07% open, and the QQQ implies a -2.24% open in what appears to be a major rotation to the safety of mega-cap harbors.  10-year bond yields are up to 1.798% and Oil (WTI) is down 1.38% in early trading (perhaps in reaction to OPEC’s decision to hike production by 400k barrels per day.

The only major economic news scheduled for release Wednesday are ADP Nonfarm Employment (8:15 am) and The major economic news scheduled for release Thursday includes Q4 Nonfarm Productivity, Q4 Unit Labor Costs, and Weekly Initial Jobless Claims (all at 8:30 am), Jan Service PMI (9:45 am), Dec. Factory Orders and Jan. ISM Non-Mfg. PMI (both at 10 am).  Major earnings reports scheduled for before the market include ABB, ABMD, WMS, AME, APTV, ARW, BSAC, BCE, BDX, BERY, BIIB, BV, CAH, CG, CHKP, CI, CMS, COP, CMI, LLY, EL, HAIN, HBI, HSY, HON, HUBB, ITW, INGR, ICE, JHG, LAZ, MKL, MMS, MRK, MTOR, NOK, PH, PENN, DGX, RL, SNDR, SNA, TKR, VSAT, VSTO, GWW, WEC, WRK, and WRK.  Then after the close, ATVI, AMZN, AVTR, BECN, BHE, BYD, CLX, COLM, DECK, F, FTNT, FTV, HIG, LPLA, MCHP, NFG, NLOK, NOV, OTEX, PFSI, PINS, POST, PRU, RGA, SKX, SKYW, SWKS, SNAP, and WERN report.

The (relief ?) rally looks to be facing pressure this morning as traders panic in light of FB missing badly on both results and revenue forecasts. The large divergence in premarket moves by the various indices shows clear signs of a rotation. However, overnight rotations can often lead to whipsaw action as late risers try to chase and the premarket traders have second thoughts. In addition, the recent strong rally is in need of the relief of either a pullback or consolidation. So, be careful. Volatility is likely today.

Stick to your trading rules and manage the things that you can control. Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, don’t be stubborn, and protect yourself from yourself. If you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.) Trading is a marathon, not a sprint.

Ed

Swing Trade Ideas for your consideration and watchlist: GME, AMD, BAC, KO. 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 gapped slightly higher on Tuesday and then ground sideways until about 3 pm, when a couple of Fed members (Bullard and Harker) told the press they DO NOT anticipate a half-point rate hike in March and that it would take another spike in inflation before they would support a half percent move.  As a result, we saw a strong rally in the last hour of the day in all 3 major indices.  This left us with Hammer-type white candles (longer lower wick) in all three.  On the day, SPY gained 0.68%, DIA gained 0.77%, and QQQ gained 0.68%.  The VXX fell another 7% to 19.86 and T2122 rose into the overbought territory at 84.69.  10-year bond yields rose to 1.796% and Oil (ETI) gained a third of a percent to $88.42/barrel.

After the close Tuesday, AMD, CB, EQR, OI, PKI, GOOG, and GOOGL all reported beats on both lines.  Meanwhile, PYPL, SBUX, GILD, and AMCR beat on revenue but missed on earnings.  On the other side, GM beat on earnings but missed on revenue.  However, EA and MTCH missed on both lines. 

In other earnings-related news, GM said they expect 2022 profits to be at record levels as the chip shortage ends (or at least eases).  The stock was down slightly after hours. Meanwhile, AMD issued very strong revenue guidance for 2022, well ahead of analyst estimates (and following a 68% growth in sales during 2021).  The stock soared 10% after reporting.  It is also worth noting that GOOGL announced a 20-for-1 stock split effective in July.   GOOGL was up 8% on the news.

So far this morning, TMO, WM, BSX, EMR, ROP, IDXX, ODFL, DHI, AVY, ABC, JCI, and MPC have all reported beats on both lines.  At the same time, HUM and HWM have reported beats on earnings while coming in light on revenue.

Overnight, Asian markets were mostly green, to the extent that they were open (all Chinese markets are closed until Feb. 4th or 5^th).  Japan (+1.68%), India (+1.16%), and Australia (+1.17%) led the region higher.  In Europe, stocks are nearly green across the board as of mid-day, with only Switzerland (-0.10%) showing any red.  The FTSE (+0.89%), DAX (+0.40%), and CAC (+0.57%) are typical of the continent in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a green open…in particular in the tech-heavy NASDAQ.  The QQQ implies a +1.72% open, the SPY is implying a +0.86% open, and the DIA implies a +0.13% open at this hour.  10-year bond yields are trading slightly lower (1.779%) and Oil (WTI) is flat in early trading.

The only major economic news scheduled for release Wednesday are ADP Nonfarm Employment (8:15 am) and Crude Oil Inventories (10:30 am).  Major earnings reports scheduled for before the market include ABBV, ATI, ABC, AVY, BSX, EAT, BIP, CHRW, CPRI, GIB, DHI, EMR, EVR, RACE, HWM, HUM, IDXX, JCI, MHO, MMP, MPC, MPLX, NYT, NVS, ODFL, ROP, SAIA, SBH, SR, SPR, TMO, WNC, and WM.  Then after the close, AFL, ALGN, ALL, AVB, CENT, CCS, CHNG, CTSH, CTVA, DXC, FBHS, THG, HI, HOLX, LNC, MCK, FB, MET, MOD, MUSA, OMF, QRVO, QCOM, RRX, SKY, SPOT, SU, TMUS, TTEK, UGI, YELL report.

The (relief ?) rally continues and bulls are taking heart from the strong earnings news overnight. In particular, the QQQ is looking for a large gap higher on the strength of GOOG and AMD reports last night and broad-based great reports this morning. While the QQQ is gapping through its downtrend, remember that the large-cap indices have not yet reached that potential resistance. So, while the bulls have all the momentum in the short term, there is still a lot of work to do. Don’t get too “rally crazy” and start chasing.

Stick to your trading rules and manage the things that you can control. Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, don’t be stubborn, and protect yourself from yourself. If you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.) Trading is a marathon, not a sprint.

Ed

Swing Trade Ideas for your consideration and watchlist: VALE, BYND, PLUG, WFC, RIDE, HOOD, TSLA. 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 relatively flat (large-cap indices gapping down slightly and the QQQ gapping up a bit), but then began a face-ripping rally that lasted half an hour.  From that point onward was a slow, steady rally that even picked up steam at the end of the day.  This second strong day in a row left us with large white candles in all 3 major indices.  The move not only took out the T-lines in all 3 major indices, but it also begins a new bullish trend (low on 1/24, high on 1/26, higher-low on 1/28, and higher high on 1/31).  On the day, SPY gained 1.77%, DIA gained 1.13%, and QQQ gained a whopping 3.19%.  The VXX fell almost 7% to 21.41 and T2122 jumped back into the mid-range at 66.67.  10-year bond yields fell slightly to 1.784% and Oil (WTI) rose 1.75% to $88.35/barrel.

Despite Monday’s very strong day for the bulls, the close wrapped up a brutal first month of the year.  For January, the SPY was down 5.27%, DIA was down 3.37%, and QQQ was down 8.75%.  However, only the QQQ is below its T-line and uptrend lines on the monthly chart.

After the close Monday, NXPI, SANM, CBT, CRUS, GGG, ARE, and FN all reported beats on both lines.  Meanwhile, KMPR missed on earnings, but beat on revenue.  However, AXTA and WWD missed on both lines. In other business news, FEDX suspended all US express freight services (overnight, 2-day, and 3-day delivery) as the company is reeling from the impact of omicron. Just another example of supply chain woes that are not easy to solve and won’t go away soon.

Overnight, Asian markets were mostly green, to the extent they were open (all Chinese markets are closed until Feb. 4th or 5^th).  India (+1.37%), Thailand (+0.78%), and Australia (+0.49%) led the region’s gainers.  In Europe, exchanges are green across the board as a political settlement to the Russian threat to Ukraine seems more likely than recently.  The FTSE (+0.92%), DAX (+1.08%), and CAC (+1.11%) are leading the continent higher in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a slightly down open.  The DIA implies a -0.19% open, the SPY implies a -0.22% open, and the QQQ implies a -0.05% open at this hour.  10-year bond yields are trading lower (1.741%) and Oil (WTI) is off six-tenths of a percent in early trading.

The only major economic news scheduled for release Tuesday are Mfg. PMI (9:45 am) and ISM Mfg. PMI as well as Dec. JOLTS (both at 10 am).  Major earnings reports scheduled for before the market include ARCB, BR, CTLT, CRVL, ENTG, EPD, XOM, BEN, GFF, IMO, LII, LDI, MDC, MAN, PNR, PBI, PHM, SMG, ST, SIRI, SWK, UBS, UPS and WAT.  Then after the close, AMD, GOOGL, AMCR, DOX, ASH, CB, EA, EHC, EQR, GM, GNW, GILD, GOOG, IEX, LFUS, MTCH, OI, PYPL, PKI, SBUX, and UNM report.

The bulls have had a great couple of days. However, there remains a lot of overhead resistance to work through. So, while the very short-term trend has flipped bullish, don’t confuse that for sunshine and blue skies ahead. Continue to exercise caution is key until the longer-term downtrend has been broken.

Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Don’t be stubborn, protect yourself from yourself. When you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.)

Ed

Swing Trade Ideas for your consideration and watchlist: IP, HOOD, AXP, GPS, GPN, RIDE, BYND, XOM. 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

Friday saw a gap higher that was immediately faded and more, but the bulls kicked into rally mode at 10 am and then again at 2:30 pm to take markets out on the highs.  This left us with large white candles with lower wicks in all 3 major indices.  However, we did not break out of the week’s lower trading range, with a lot of resistance overhead.  On the day, SPY gained 2.47%, DIA gained 1.63%, and QQQ gained 3.14%.  Overall, it was the best day for bulls since June of 2020.  The VXX fell 6% to 22.99 and T2122 rose but remains in the oversold territory at 17.82.  10-year bond yields fell to 1.793% and Oil (WTI) rose 0.62% to $87.15/barrel.

Over the weekend, Fed member (voter) Raphael Bostic told the Financial Times that the Fed “could” hike rates by half a percent in March, or on every increase this year if needed.  This was news because the Wall Street consensus is that all the rate hikes would be in quarter-point increments.  However, Bostic was quick to point out that, at this point, his vote would still be for 3 quarter-point increases in 2022.  That said, many have called for more aggressive measures and the big Banks (GS, MS, JPM, etc.) are already saying they now expect 4 or more rate hikes this year.  Add to this, Fed Chair Powell refusing to rule out a hike at every meeting this year and markets will need to price in the possibility of both more and more harsh tightening by the Fed that has been generally expected to this point.

In business news, Sunday reports claimed CTXS is very near a buyout at $104/share.  The move was widely rumored Friday as traders drove the price to $105.55.  So, oddly enough, it appears the company has agreed to sell at a discount to the current market price.  In earnings news this morning, TT beat on both lines while LHX and OTIS both beat on earnings and came in short on revenue.

Overnight, Asian markets were mixed, to the extent they were open (all Chinese markets are closed until Feb. 4th or 5^th).  South Korea (+1.87%) and Japan (+1.07%) led the gainers while Malaysia (-0.51%) paced the losses.  In Europe, stocks are mostly green as of mid-day.  The FTSE (-0.03%) and CAC (-0.12%) are the only red on the continent with the DAX (+0.22%) being more typical in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a down open.  The DIA implies a -0.65% open, the SPY is implying a -0.46% open, and the QQQ implies a -0.12% open at this hour.  10-year bond yields are flat and Oil (WTI) is up half of a percent in early trading.

The only major economic news scheduled for release Monday is Chicago PMI (9:45 am).  Major earnings reports scheduled for before the market include OTIS and TT.  Then after the close, AXTA, CBT, CRUS, FN, GGG, KMPR, NXPI, SANM, and WWD report.

The bears and bulls remain locked in a struggle that has lasted a week. Resistance remains overhead, even as the major indices struggle with their T-lines. However, the bears have not been able to break the consolidation and resume the downtrend either. So, continued caution is key until either the downtrend resumes or a new bullish trend takes shape. Stay nimble, hedged, and/or out of the way.

Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Don’t be stubborn, protect yourself from yourself. When you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.)

Ed

Swing Trade Ideas for your consideration and watchlist: UVXY, VMW, ZIM, PTON, RWM, XLE. 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

On Thursday, for the third day in a row, markets gapped higher, put in a little follow-through and then sold off to spring the bull trap.  This left us with black candles (a very big one in the QQQ) with upper wicks.  On the day, SPY lost 0.46%, DIA squeaked out a +0.04% gain, and QQQ lost 1.01%.  The VXX rose to 24.49 and T2122 fell deeper into the oversold territory at 2.11.  10-year bond yields fell to 1.808% and Oil (WTI) was down slightly to $86.91/barrel.

During the day, Q4 GSP came in as a massive beat (a 40-year high).  The print was +6.9% while the consensus estimate was 5.5%.  So, the Q4 economy was much stronger than expected, but the strongest inflation in 40 years also contributed to this high print.  On the other hand, December Durable Goods Orders and Pending Home Sales both came in much weaker than expected.

After hours Thursday, AAPL, AJG, BZH, V, WDC, WRB, JNPR, RHI, and KLAC all reported beats on both lines.  However, EMN, MDLZ, OLN, RMD, SYK, TEAM, and X beat on revenue but missed on earnings.  On the opposite side, FICO and WAL beat on earnings but missed on revenue.  Meanwhile, BOOT and CE missed on both lines.

Overnight, Asian markets mixed.  Japan (+2.09%), Australia (+2.19%), and South Korea (+1.87%) led the gainers.  However, New Zealand (-1.64%), Hong Kong (-1.08%), and Shanghai (-0.97%) were all lower as the region gets ready for the long Chinese market holiday that begins Monday.  In Europe, stocks are nearly red across the board at mid-day, with the lone exception of Russia (+0.90%).  The FTSE (-1.23%), DAX (-1.97%), and CAC (-2.11%) are typical and lead the region lower on fear of a Russian invasion of Ukraine and the closing of the Nord Stream 2 Gas Pipeline.  As of 7:30 am, US Futures are pointing toward a down open.  The DIA implies a -0.74% open, the SPY is implying a -0.77% open, and the QQQ implies a -0.48% open at this hour.  10-year bond yields are trading higher at 1.841% and Oil (WTI) is up to $87.24/barrel in early trading.

So far this morning, CAT, CHD, CTXS, PSX, SYF, VFC, and WY have all reported beats on both lines.  Meanwhile, ALV, BAH, CHTR, HNNMY, and CL have reported beats on earnings, but came in light on revenue.  At the same time, CVX, LYB, and SEOAY beat on revenue, but missed on earnings.

The major economic news scheduled for release Friday includes Dec. PCE Price Index, Q4 Employment Cost, and Dec. Personal Spending (all at 8:30 am), and Michigan Consumer Sentiment (10 am).  Major earnings reports scheduled for before the market include ALV, BAH, CAT, CHTR, CVX, CHD, CL, LYB, MOG.A, SYF, VFC, and WY.  There are no major reported scheduled for after the close.

Overhead resistance, the realization of a rough year with no help from the Fed, and fear over a Russian invasion of Ukraine have the bears in control. However, while they have smacked down the bulls’ attempt at a rally the last 3 days in a row, the bears have not been able to drive the market to further depths. So, be careful in an environment of intraday reversals and overall indecision. Also, remember it’s Friday and there is a weekend news cycle to be endured. Consider hedging, getting small, and especially taking profits where you have them.

Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Don’t be stubborn, protect yourself from yourself. When you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.)

Ed

Swing Trade Ideas for your consideration and watchlist: TZA, SQQQ, SPXU, SDOW, SDS, DXD, DUST, RWM, DOG, JDST, QID. 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

Once again, the bulls gapped stocks 1%-2% higher at the open Wednesday.  Then we saw a sideways meander until 2 pm.  However, when the Fed announcement and presser came out, all 3 major indices sold off hard to the lows of the day before drifting back upward to close up off the lows.  This left us with gap-up, big black candles with good-sized wicks on both ends across the major indices.  On the day, SPY lost 0.33%, DIA lost 0.44%, and QQQ lost 0.16%.  The VXX rose 2% to 24.32 and T2122 fell back into the oversold territory at 11.27.  10-year bond yields spiked again to 1.867% and Oil (WTI) rose a bit under 2% to $87.07/barrel.

The big news of the day was the FOMC decision and Fed Chair Powell’s press conference.  Oddly enough, we learned exactly what we expected to hear.  The Fed signaled it will raise rates in March on an aggressive path to fight inflation, will have stopped buying bonds (completed the taper) by then, and will begin to significantly reduce its $9 trillion bond holdings over the remainder of the year.  Again, none of this was anything we did not already know.  So, perhaps it was Chair Powell’s refusal to rule out a hike at every meeting the remainder of the year (he was asked) that spooked markets.  Regardless of the exact trigger, markets sold hard on the news, but the bears did not have the strength to close us out on the lows or to reach significantly lower levels.

After the close Wednesday, AMP, CCI, INTC, LSTR, RJF, STX, NOW, TER, TSLA, URI, VRTX, and XLNX all reported beats on both lines.  However, EW, LVS, and PGR missed on both lines.  Meanwhile, DRE, LRCX, MKTX, and WHR missed on either the earnings or revenue lines while beating on the other.

Overnight, Asian markets reacted to the Fed news as the region was nearly red across the board.  (Malaysia +0.02% being the exception.)  South Korea (-3.50%), Japan (-3.11%), and Shenzhen (-2.77%) paced the losses.  In Europe, stocks are mixed at mid-day.  The FTSE (+0.49%), DAX (-0.45%), and CAC (-0.34%) are typical of the spread across the region.  However, Russia (+2.37%) is an outlier.  As of 7:30 am, US Futures are pointing toward a slightly green open.  The DIA implies a +0.04% open, the SPY is implying a +0.28% open, and the QQQ implies a +0.50% open at this hour.  10-year bond yields are down to 1.823% and Oil (WTI) is up 1% in early trading.

So far this morning, DHR, MO, MMC, DOW, MSCI, XEL, TROW, ROK, BLL, DOV, TSCO, TDY, AOS, JBLU, CMCSA, VLU, LUV, MKC, and ALK all reported beats on both lines.  However, MCD and TXT reported misses on both lines.  Meanwhile, SHW, NOC, IP, and KEX reported a beat on one line and a miss on the other.

The major economic news scheduled for release Thursday includes Dec. Durable Goods Orders, Q4 GDP, and Weekly Initial Jobless Claims (all at 8:30 am) as well as Dec. Pending Home Sales (10 am).  Major earnings reports scheduled for before the market include FLWS, AOS, ALK, ADS, MO, AIT, BLL, BX, BC, CNX, CMCSA, DHR, DOV, DOW, HCA, IP, JBLU, KEX, MA, MMC, MKC, MCD, MSCI, MUR, NOC, NUE, ORI, ROK, RCI, SAP, SHW, LUV, STM, TROW, TDY, TXT, TSCO, VLO, and XEL.  Then after the close, AAPL, AJG, TEAM, BZH, CP, CE, EMN, JNPR, KLAC, MDLZ, OLN, RMD, RHI, SYK, X, V, WRB, WAL, and WDC report.

Traders have had a night to reconsider the Fed news. Often this leads to a reversal of the initial reaction from the afternoon of the report. In this case, that may not happen, because the news was widely expected ahead of time. Either way, it looks like markets are tepidly bullish at least before the morning economic news comes out. If we do open higher, just remember that the last two gaps higher were met with a strong selloff later in the day. So, be careful chasing unless you are hedged, small positioned, and/or very nimble.

Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Remember that the first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Don’t be stubborn, protect yourself from yourself. When you are wrong, just admit it and take your loss. (That’s why we set stops in the first place.)

Ed

Swing Trade Ideas for your consideration and watchlist: No trade ideas today. 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

The good news is that Tuesday was a bit less volatile than Monday.  However, we opened with a 1%-2% gap lower.  This led to a roller-coaster in all 3 indices, with the SPY and DIA completely fading the gap before rolling over again.  Meanwhile, the QQQ roller-coaster stayed around the gap-down level before also closing on a downswing.  This left us with long-legged, Spinning Top (indecisive) candles in all 3 major indices.  On the day, SPY lost 1.19%, DIA lost only 0.21%, and QQQ lost 2.32%.  The VXX rose slightly to 23.82 and T2122 climbed just out of the oversold territory to 23.16.  10-year bond yields closed up to 1.781% and Oil (WTI) rose almost 2.5% to $85.38 on continued fear of a Russian invasion of Ukraine.

After hours, the Commerce Department released a report that said due to supply chain problems, some US manufacturers are down to less than 5 days’ worth of inventory of computer chips (semiconductors).  The report summarized survey finding from 150 manufacturers, which said on average they had maintained 40 days of supply in 2019, but were down to 5 days of inventory last fall and have not recovered.  While the report did not name any specific companies, it did cite the auto, consumer electronics, and medical device industries.  The report also said the worst-hit businesses are those that use older “legacy” (low margin) chips in their products.

After the close Tuesday, MSFT, COF, FFIV, and TXN all reported beats on both lines.  So far this morning, ADP, T, TEL, NDAQ, and GLW have all reported beats on both lines.  However, ANTM and GD both beat on earnings but came in light on revenue.

Overnight, Asian markets were mixed.  Australia (-2.49%) was an outlier with Japan (-0.44%) and South Korea (-0.41%) pacing losses and India (+0.75%), Shenzhen (+0.70%), and Shanghai (+0.66%) leading the gains.  In Europe, stocks are strongly green across the board at mid-day.  The FTSE (+1.80%) lags, while the DAX (+2.28%) and CAC (+2.26%) are typical of the continent in early afternoon trading.  As of 7:30 am, US Futures are pointing toward a strong start to the day.  The DIA implies a +0.94% open, the SPY is implying a +1.28% open, and the QQQ implies a +1.81% open at this hour.  10-year bond yields are up to 1.79% and Oil (WTI) is also up three-quarters of a percent in early trading.

The major economic news scheduled for release Wednesday includes Dec. Trade Goods Balance and Dec. Retail Inventories (both at 8:20 am), Dec. New Home Sales (10 am), Crude Oil Inventories (10:30 am), and then the FOMC Interest Rate Decision and FOMC Statement (both at 2 pm), followed by the FED Chair Press Conf. (2:30 pm).  Major earnings reports scheduled for before the market include ABT, APH, ANTM, ADP, T, BA, NSC, FCX, GD, GLW, HES, KMB, KNX, NDAQ, NSC, PGR, ROL, and TEL.  Then after the close, AMP, AVT, AXS, CACI, CLS, CCI, EW, FLEX, INTC, LRCX, LSTR, LVS, LEVI, MTH, MEOH, MKSI, PKG, PLXS, PTC, RJF, STX, SEIC, NOW, TER, TSLA, URI, VRTX, WHR, and XLNX report.

While we have other economic data and earnings, the Fed decision (and especially the statement and presser) will call the market tune today. Bull traders seem to be anticipating no shocks, as they’re trying to front-run the announcements. That leaves the real risk exposure to the downside. However, don’t be surprised if markets lose their nerve and decide to drift into the announcement today. Either way, we can expect tremendous volatility right after the announcement as traders reset positions once the outcome is known. So, as I continue to say, markets will not fall forever. Now is the time to be preparing for the rally that will follow (whenever it comes). Get those trading plans and rules tuned up, decide on your watchlists for a potential rotation, and be prepared. However, it is not time to predict a turn or chase moves you have missed. Trade carefully.

The first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Don’t be stubborn. When you’re wrong, just admit it and take your loss. (That’s why we set stops.)

Ed

Swing Trade Ideas for your consideration and watchlist: CF, FANG, APA, USO, WSM. 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

Monday was quite the roller-coaster ride.  A gap lower of 1%-1.7% across the 3 major indices and started a wild whipsaw ride (each whip being more than 1% in size) to the downside all morning.  The lows of the day were reached about 12:30 pm, when (for no particular reason) sentiment reversed and a wild whipsaw ride to the upside began.  Again, each major wave of movement was over 1% in size.  All 3 major indices closed in the green and near their highs of the day even as we saw a range of more than 5% in those indices on the day.  This left us with white candles with long lower wicks across the board.  On the day SPY gained 0.40%, DIA gained 0.39%, and QQQ gained 0.49%.  The VXX closed up 2.5% to 23.79 and T2122 remains deeply oversold at 2.47.  10-year bond yields ended up slightly after their own wild ride of a day, closing at 1.774% and Oil (WTI) was down 1.44% to $83.91. 

As mentioned, we experienced massive intraday swings Monday.  While this has not happened in a long time, huge intraday volatility is not unknown.  Bloomberg looked at the Nasdaq 100 (QQQ) over the last 25 years as a gauge for such volatility.  They found many days that were similar to Monday’s whipsaw action in both 2008 (Financial Crisis) and during 2000-2002 (dot-com bubble burst).  That said, the swing we just saw was the largest since January 8, 2001. This may give us a clue to the potential volatility to come during the shift from massive spending and debt related to pandemic recovery and the shift to the new Fed’s goal of reversing that situation to fight inflation.  The moral of the story is that if you’re trading, be damn sure you can handle real pain and are comfortable with volatility.

After the close on Monday, BRO, CR, IBM, STLD, and ZION all beat on both lines.  IBM spiked in after-hours trading after posting its best revenue growth in 10 years (+6.5%) on strong cloud services sales in Q4.  So far this morning, VZ, AXP, LMT, ADM, IVZ, and MMM have all reported beats on both lines.  Meanwhile, JNJ, NEE, RTX, and GE reported beats on earnings but came in light on revenue.

Overnight, Asian markets were nearly red across the board (with only India +0.75% in the green).  Shenzhen (-2.83%), Shanghai (-2.58%), and South Korea (-2.56%) led the region lower.  In Europe, we see the opposite at mid-day.  Bourses are green across the board on the continent with the FTSE (+0.84%), DAX (+0.54%), and CAC (+0.82%) leading the region higher.  As of 7:30 am, US Futures are pointing toward another major gap lower.  The DIA implies a -0.73% open, the SPY is implying a -1.39% open, and the QQQ implies a -2.00% open at this hour.  10-year bond yields are also up sharply to 1.774% and Oil (WTI) is flat in early trading.

The only major economic news scheduled for release Tuesday is Conf. Board Consumer Confidence (10 am).  However, major earnings reports scheduled for before the market include MMM, AXP, ADM, ERIC, GE, IVZ, JNJ, LMT, NEE, PCAR, PII, RTX, UMC, VZ, and XRX.  Then after the close, BXP, CNI, COF, FFIV, HA, MSFT, RNR, and SLGN report.

The Fed meeting starts today as markets are clearly spooked. What may have traders worried is any mention of 4 or more rate hikes this year, when the FOMC position to this point has been to expect 3 hikes. The wildcard everyone is waiting to drop will be what is said about the lightening of the Fed’s massive balance sheet of bonds and other mortgage-backed assets. So, as I said yesterday, now is the time to be preparing for the bottom. Not time to be predicting a turn or chasing moves you have missed. Trade carefully.

The first rule of making money in the market is to not lose big money in the market. So, stick to your trading rules and manage the things you can control. Trade with the trend, don’t chase, keep consistently taking profits when you have them, and move your stops in your favor. Don’t be stubborn. When you’re wrong, just admit it and take your loss. (That’s why we set stops.)

Ed

Swing Trade Ideas for your consideration and watchlist: UVXY, SPLK, QID, SDS, TDOC, HAL, FSLY. 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 saw some whipsaw early, but then all 3 major indices started a protracted selloff at 11 am that lasted right into the close.  This left us with more big, ugly black candles with modest upper wicks.  On the day, SPY lost 1.96%, DIA lost 1.43%, and QQQ lost 2.77%.  All three have now given up their 200sma.  The VXX rose over 9% to 23.20 and T2122 fell even more to a ridiculously oversold 0.85.  10-year bond yields fell to 1.771% on strong bond demand and Oil (WTI) fell eight-tenths of a percent to $84.83/barrel.  All-in-all, it was the worst week in the market since March of 2020, with the QQQ down 7.45%, SPY down 5.75%, and DIA down 4.68% in a 4-day week. 

The dramatic fall in cryptocurrencies continues.  Bitcoin closed at $67,130 range in early November (11/7).  However, it closed at $35,096 on Saturday (after having fallen another 14% Friday and more on Saturday).  A pretty brutal 48% loss over 2.5 months.  In early trade today, Bitcoin is down almost another 5% to $33,498.30.  Along with the currency itself, related stocks continue to tumble.  One example is that MSTR was down almost 25% on the week last week.  In addition to the hit from the currency tumbling, one morel cause for this was the SEC announced late Thursday that they are rejecting the way MSTR has been accounting for its Bitcoin holdings.

In a hopeful sign on the inflation front, wholesale fertilizer prices have fallen every week this year.  The price of wholesale urea has fallen dramatically each day last week, including 8.2% on Friday alone.  Unfortunately, retail prices (what farmers pay) have not fallen yet.  However, the wholesale prices are back to the level they were at the first week of October, preceding the massive spike that lasted Oct.-Dec.

Overnight, Asian markets were mixed but lean to the downside.  India (-2.66%) was an outlier with South Korea (-1.49%) and Hong Kong (-1.24%) leading the losses.  Meanwhile, Taiwan (+0.50%) and Japan (+0.24%) paced the gainers.  In Europe, tensions from a potential Russian invasion of Ukraine have markets red across the board at mid-day.  Russia (-6.24%) is obviously an outlier, but the FTSE (-1.17%), DAX (-1.84%), and CAC (-1.83%) are representative of the continent.  As of 7:30 am, US Futures are pointing toward a down open.  The DIA implies a -0.32% open, the SPY is implying a -0.44% open, and the QQQ implies a -0.70% open at this hour.  10-year bond yields are down to 1.735% and Oil is flat in early trading.

The major economic news scheduled for release Monday is limited to Mfg. and Services PMI (both at 9:45 am).  Major earnings reports scheduled for before the market include: HAL and PHG.  Then after the close, BRO, CR, IBM, LOGI, STLD, and ZION report.

Markets are likely to look ahead to the Fed Meeting announcements and press conference on Wednesday. However, pretty much the whole market is sure what they will hear then…a rate hike coming in March as well as the beginning of the selloff of Fed-owned bonds. A wildcard might be something GS suggested in a weekend note. They said the Fed may do more than 4 rate hikes this year. If the Fed were to come out and say that on Wednesday, we could easily see capitulation selling. So, now is the time to be preparing for the bottom, but not predicting a turn or chasing short moves you missed. Trade carefully.

Stick to your trading rules and on managing the things you can control. Don’t chase, trade with the trend, keep consistently taking profits when you have them, and move your stops in your favor. And keep in mind that the first rule of making a lot of money in the market is to not lose a lot of money in the market. So, don’t be stubborn. When you’re wrong, just admit it and take your loss. (That’s why we set stops.)

Ed

Swing Trade Ideas for your consideration and watchlist: TAK, BKR, CHD, BABA, IAC. 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