On Tuesday, the bulls gapped markets strongly higher (about 1.25% gap) and got some follow-through until noon.  Then we saw three hours of sideways grind followed by a selloff the last 30 minutes.  The tech giants which had suffered so much fear related to coronavirus impact seemed to lead the way.  In addition, TSLA was notable for following up their almost 20% gain Monday with almost another 14% gain Tuesday.  As a result, the QQQ closed 2.29% higher (a new all-time high close), the SPY gained 1.52%, and the DIA ended the day up 1.43%.  As you’d expect, the VXX was down hard to 14.83 and the T2122 returned to mid-range at 61.30.  This latter fact would seem to indicate we are still not over-bought.

The coronavirus story continues even while it remains unclear how much global impact will result. Confirmed cases are now up to 25,000 and deaths have risen close to 500.  The Chinese Health Minister told reporters that the virus has already mutated into a stronger and more communicable variant.  There have also now been babies born with the virus when the mother was infected. However, Fed speakers seem to indicate this entire outbreak will not have a significant impact on the US fiscal outlook.  In addition, Larry Kudlow told CNBC coronavirus is not a disaster for the US economy. On top of this, world markets have risen the last two days in hopes of a cure and vaccine.

Nonetheless, in after-hours reports, NKE warned that the virus will have a significant financial impact on their business, especially in their China operations and market (their primary product source and largest growth market).  Foxconn (a key AAPL supplier) also cut its outlook for the year.  The Chinese government has announced lower tax rates and eliminated fees to banks offering low-rate business loans and to at least some businesses involved in fighting off coronavirus impacts.

In the US Tuesday night, M also said they will close 125 stores and cut 2000 corporate jobs.  In addition, F reported a $1.7 billion loss and GILD reported a miss for the quarter.  On the other side, Disney beat (on 28.8 million DIS+ subscribers, but they did not update their streaming service guidance). Other beats included CB and CMG among others. 

Overnight, Asian markets continue to rebound with green across the board again.  The same is true in Europe, with strong gains in all the major bourses.  As of 7:30 am, U.S. futures are also pointing to another gap higher of between eight-tenths and one percent. 

The bulls look to be continuing their charge this morning. Just bear in mind, the second-largest economy in the world seems to be in trouble from the virus and much of Asia is already feeling economic impacts. It seems logical that there would be some sort of impact on the US as well, but leaders say no. So, be careful chasing as it sure feels like more shoes will drop.

As I have relentlessly preached, a trader’s job is to consistently take profits and reduce risk (manage trades). So, don’t chase or give in to Fear of Missing Out. Make the trade to come to you…plan your trade and trade your plan. Or as Rick puts it: See it, Plan it, Trade it.

Ed

Swing Trade Ideas for your consideration and watchlist: BX, OKTA, VRTX, GE, TEAM, LLY, INTC, INFO, BLK. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs we mention and talk about in the trading room are not recommendations to buy or sell.

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

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

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

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

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

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

Hit and Run Candlesticks / Road To Wealth Youtube videos

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

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

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

The bulls gave us a little rebound Monday, coming off the worst week in 6 months.  After a small gap higher, the bulls pushed but were driven back in the large-caps leaving large upper wicks.  The SPY gained 0.74%, the DIA gained 0.55%, and the QQQ was strongest up 1.51%.  This caused the VXX to fall to 15.68.

Coronavirus continues to lead the news.  Among related stories, in the afternoon CCL reported that one of its passengers had tested positive for the virus 6 days after leaving one of their cruise ships.  Oil also fell to the lowest price in more than a year on fear of the virus’ impact on demand. As of this morning, the count has risen to 21,000 confirmed cases and 425 confirmed deaths. However, US markets now seem to expect this outbreak will end up having little impact on the US and global economies.

After the close, Alphabet reported earnings, beating expectations on earnings by 20%, but apparently disappointing on ad revenue.  As a result, both GOOG and GOOGL were down 4.5% in after-hours trading.  The other Monday night story was the Iowa Caucuses and their debacle of not releasing results.  Pete Buttigieg (widely seen as a moderate) claimed victory, but the Democratic Party announced nothing after finding inconsistencies in the data from the App they used to roll up precinct results.  A hand recount of the tallies will be done today.

Overnight, Asian markets rebounded after their beating yesterday and there was green across the board Tuesday.  The same is true in Europe, with strong gains being made in all the major bourses at this point.  As of 7:30 am, U.S. futures are also pointing to a large gap higher.

Tuesday’s major economic news is limited to Dec. Factory Orders (10 am).  Of course, although not economic or even usually news, the President Trump will deliver the State of the Union speech tonight. However, again there are many earnings reports.  Reporting before the bell are CNC, CLX, COP, CMI, ETN, EMR, IT, J, MCK, RL, RCL, SPG, SIRI, TDG, WAT, and ZBH.

The bulls seem to be making another push this morning. However, the primary economic story (coronavirus impact) has not changed and I’m not aware of any unexpectedly good earnings stories that changes the outlook.  So, be careful trading in either direction. Remember what happened to Monday’s candle after the gap and morning run.

Keep in mind that our job as traders is to consistently take profits and cut risk. Don’t chase or act on emotion. Make the trade to come to you…plan your trade and trade your plan.

Ed

Swing Trade Ideas for your consideration and watchlist: OPGN, EZPW, PLAN, NFLX, LULU, IR, ALLE, SVRA. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

Coronavirus really put it on the markets Friday.  A brutal all-day selloff was only slowed by bulls rallying the last 15min of the day in a futile effort to make January end as a net gain.  Unfortunately, markets still closed lower for the month.  On the day the SPY lost 1.81%, the DIA lost 2.12%, and even the QQQ (buoyed by a massive AMZN earnings beat) lost 1.59%.  In the process, the SPY held support, but the DIA gave up the 50sma and a potential support level.  Obviously, the VXX spiked to a still-low 16.27

Over the weekend, the death toll from the virus topped 360, with well over 17,000 confirmed cases in China alone.  In response, China has extended the Lunar New Year shutdown (holiday) across at least 24 provinces (which account for 80% of the Chinese GDP) until at least Feb. 10 (some until Feb. 14).  They also said the holiday may be extended again if deemed appropriate. 

In potentially good news, Thailand reported good results using a mixture of two antiviral drugs.  The success saw a significant improvement in the condition within 48hr after treatment.  However, this success was on a single patient.  So, it is way too early to claim a solid treatment has been found.  Still, this is promising news.

For now, China has announced a range of measures to help businesses hit hard by the virus.  In addition, the People’s Bank of China said the equivalent of a $173 billion (including $21 billion today alone) extra liquidity will be injected into their markets using the same repo mechanism the Fed uses to pump money into US Markets.  This was intended as an emergency backstop as the Chinese stock market reopened for the first time since January 23.  Nonetheless, Chinese markets still gapped down almost 9% at its open.  (Bear in mind that in addition to virus fears, Chinese markets have been closed for 10 days and have not had a chance to adjust.  So, gap moves on the first day back from the Lunar New Year holiday are typical…just not this severe.)

Overnight, Asian markets took the weekend virus news hard with red across the board.  The only possible bright spot is that Hong Kong got back to the green side of flat.  However, China’s first day back to trading ended down 8%.  In Europe, markets are mixed, but mostly green at this point.  As of 7:45 am, U.S. futures are pointing to a half percent gap higher after Friday’s beating. 

Monday’s major economic news is limited to Jan. Mfg. PMI (9:45 am) and ISM Mfg. PMI (10 am).  And while earnings do resume this week, today is a light day.  Among the major names reporting before the bell are AMG, CHKP, and SYY.  After the close ARE, GOOG, GOOGL, HIG, LEG, and NXPI all report.

The bulls seem to be trying to find support this morning.  However, the bears have the momentum and nothing has changed for the better on the coronavirus story.  Be careful trading either direction as it’s likely to be a volatile day.

Keep in mind that nobody ever went broke taking profits (small or not) and reducing risk. Above all, wait for the trade to come to you…plan your trade and trade your plan.

Ed

Swing Trade Ideas for your consideration and watchlist: VXX, SDOW, TZA, KKR, LABD, GDOT, SHAK, GWRE, CTXS, PRGO. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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 lower Thursday as coronavirus fear resumed.  However, the bulls were having none of that as they rallied most of the day with the close coming near the highs.  For example, the Dow erased a 244 gap down to end the day 124 points higher.  The SPY gained 0.32%, the DIA gained 0.44%, and the QQQ gained 0.36%.  The VXX fell to 14.60 while the T2122 remains in mid-range at 39.69.

During the day, the World Health Organization reversed its decision from last week and declared coronavirus a global health emergency.  Oddly, at the same time, they did not recommend travel to China to be restricted.  In other coronavirus news, the Centers for Disease Control confirmed the first person to person transmission inside the US. Globally the death count continues to rise and the confirmed cases is now about 10,000.

After the close, AMZN absolutely crushed their earnings report.  Prices soared in after-hours trading on that report that was 60% higher than expected.  It remains to be seen whether this will “lift all boats” on Friday.  Again, other earnings reports were too numerous to mention. 

Overnight, Asian markets were mixed, with only the NIKKEI green as virus fear grows.  In Europe, markets are red across the board at this point in the day.  As of 7:45 am, U.S. futures are mixed with the SPY and DIA pointed to gap down, while the QQQ (bolstered by AMZN) pointing to a half percent gap higher. 

Friday’s major economic news includes Dec. Personal Consumption-Expenditures (8:30 am), Chicago PMI (9:45 am), and Michigan Consumer Sentiment (10 am).  The earnings list is somewhat smaller since it is Friday.  Among those reporting before the bell are AON, BR, CAT, CHTR, CL, CVX, CHD, XOM, HON, IDXX, ITW, JCI, LYB, PSX, and WY.

In impeachment news, the vote on whether or not to call witnesses is scheduled for Friday afternoon.  It appears the White House now has the votes to block witnesses.  If so, Senate Majority Leader McConnell is expected to call the votes to acquit (as has always been expected) as soon as Friday evening.  Speculation is that this might move markets even just on the expectation of an acquittal.  However, the way markets react to news, especially in advance, is never a sure thing.  So, as with other news, be careful betting on such an outcome.

As mentioned, the bulls closed markets higher, but this also happened to be near resistance.  The US futures are mixed at this point and there are a number of major earnings reports this morning.  In addition to this, we have a weekend full of virus news coming.  So be careful relying on whatever happens today to be an indicator beyond today’s close.

Be cautious when considering any new positions.  And remember, nobody ever went broke taking profits and reducing risk. Above all, wait for the trade to come to you…plan your trade and trade your plan.

Ed

No Swing Trade Ideas for your consideration and watchlist for Friday. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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 higher Wednesday, as markets looked to good earnings and tried to ignore coronavirus for a second straight day.  However, this gap woke up the bears and the rest of the day was a selloff back down to Tuesday’s closing levels.  The DIA ended the day dead flat, the SPY closed down 0.09%, and the QQQ gained 0.16% (after coming back after a morning swoon).  The VXX gained slightly to 14.85 and the T2122 fell back to 33.90, so it remains in the mid-range.

AAPL helped markets after their Tuesday evening beats resulted in them printing another all-time high on Wednesday.  Oddly, BA rallied 2% on the day even though it reported its first loss in decades before the open.  Other earnings reports were too numerous to mention. 

Another story during the day was the Fed leaving rates unchanged and saying it plans to continue adding liquidity via REPO operations through at least April.  Chairman Powell also stressed the need to reach a 2% inflation target, meaning the Fed will be slow to raise rates in the foreseeable future.

Despite the earnings and Fed news, the coronavirus story remains at the top of mind.  The death toll has now topped 170 with 7,700 confirmed cases globally. (There are also tens of thousands of potential cases/patients being tracked.)  Business shutdowns, flight cancellations, city quarantines and major companies telling employees to work from home (for example Google and Microsoft) continue to pile up, especially focused on China.

Thursday’s major economic news is limited to Final Q4 GDP and Weekly Jobless Claims (both at 8:30 am).  However, once again there will be way too many earnings reports to list the tickers all here.

Overnight, Asian markets were heavily in the red as virus fear grow and traders returned from their holiday.  In Europe, markets are also red across the board at this point in their day.  As of 7:45 am, U.S. futures are pointing to a gap lower of three-quarters of a percent.

Wednesday’s close near the lows implies that we will see a lower-low Thursday.  The US futures seem to be confirming this signal.  So, virus fear may be coming back into the forefront.   However, a large number of earnings have the power to jerk us around. 

Be cautious when considering any new positions.  Look for opportunities, but hedge your risks, keep taking profits and move your stops to protect yourself. Above all, wait for the trade to come to you…plan your trade and trade your plan. Remember, it’s the consistent base hits, not the occasional home run, that wins the pennant.

Ed

Swing Trade Ideas for your consideration and watchlist today: ERI, MU, STX, CVS, LULU, MUSA, AGN, KLAC. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. Finally, remember that the stocks/etfs 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

Coronavirus remains the lead, but bulls around the world decided two consecutive days of fear was enough.  Likewise, the US major indices gapped higher and found a little follow-through on Tuesday.  The SPY closed up 1.05%, the DIA up 0.68%, and the QQQ up 1.54%.  None of these were new all-time highs, but the relief was palpable.  All 10 major sectors were up on the day and the VXX fell to 14.83.

Despite the market action on the day, the coronavirus remained the lead story overall. During the day there were many reports of new government travel advisories, airline flight cancellations and companies closing Chinese operations and/or evacuating staff.  In addition, there have now been confirmed human-to-human transmissions outside of China.  Meanwhile, the US has “fast tracked” a vaccine, but it will be at least three months before the early-stage clinical trials can even begin.

In other news, the defense completed their presentation in the Impeachment trial of President Trump and the Senate Majority Leader said he did not have the votes to block witnesses at this point. However, he has two more days to wrangle enough votes while Senators ask their questions. We should find out Friday whether the trial will continue.

On the earnings front, the most noteworthy was the AAPL report after the close.  It posted large beats on both top and bottom lines.  However, it did not skyrocket in after-hours reaction. Meanwhile, SBUX (which also beat expectations), became the first company to warn that the coronavirus may materially impact their fiscal 2020 results. So far this morning, BA reported a loss on the 737 Max debacle while MCD and GE posted beats.

Overnight, Asian markets are mixed, but mostly red.  In Europe, markets are green across the board at this point in the day.  As of 7:45 am, U.S. futures to a half percent gap higher on earnings news.

Wednesday’s major economic news is limited to the Dec. Pending Home Sales (10 am), Crude Oil Inventories (10:30 am), the FOMC Rate Decision (2 pm), and the FOMC Press Conference (2:30 pm).  There are too many major earnings, both before the open and after the close, to list here.  Needless to say, it will be a heavy earnings day.

As mentioned yesterday, it’s going to be a long time before the coronavirus story is over.  However, in the grander scheme, and as SBUX proved last night, it’s really just an excuse for markets.  We have been rallying for months without breaking trend or even closing below the T-line until last Friday.  In short, the bears were long past due a little time in the sun.

Tuesday may just have been Mr. Market reminding the bears not to get too cocky about their new momentum.  It could also be that the bulls had just needed rest and earnings has now given them the new energy to take back control.  Since we don’t know which it was, use some caution before getting too far into either camp.

Look for opportunities, but hedge your risks, keep taking profits and move your stops to protect yourself. As always, above all, wait for the trade to come to you…plan your trade and trade your plan. Remember, it’s the consistent base hits, not the occasional home run, that wins the pennant.

Ed

Swing Trade Ideas for your consideration and watchlist today: SHOP, PLAN, GE, CIEN, YNDX, CDAY, PLNT, VG, UTHR, NWL. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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

Coronavirus racked up another win Monday, taking down US markets just as they had Asian and European markets before the US opening bell.  After the gap-down of over 1.5%, the rest of the day was a grind as the bulls tried to fade the gap and the bears said not so fast.  At the end of the day, we were left with indecisive candles with large upper wicks with the SPY down 1.60%, the DIA down 1.57%, and the QQQ down 2.07%.  The VXX gapped higher and after volatility ended near the highs, up 10.39% to a still low 15.72.  However, the T2122 has now fallen well into oversold territory at 8.26.

The economic impacts of coronavirus led the news all day Monday.  It is now reported that many US companies are suspending retail as well as production operations as a result of the threat.  (Bear in mind that the production part of this is not yet a real impact as pretty much all operations in China are normally shut down for many weeks at this time of year.)  Other news included reports that over 100 deaths and 4500 diagnosed cases have been reported worldwide.  In the US, the CDC has confirmed at least five cases, while 110 patients across 26 states are being monitored as possible cases.

In other news, Huawei has been officially allowed to be part of the UK’s 5G infrastructure, defying US pressure to exclude the company on security grounds.  BA was able to secure $12 billion in financing to get it through the 737 Max crisis.  Finally, President Trump’s impeachment defense will rest today. The rumors are that the Sunday bombshell about John Bolton may have changed the math in favor of the demand for witnesses. If true, this would very likely drag the trial on past the date of State of the Union speech.

Tuesday’s major economic news is limited to the Dec. Durable Goods Orders (8:30 am) and Conf. Board Consumer Confidence (10 am).  Major earnings on the day include MMM, AOS, HCA, HOG, LMT MKC, NUE, PCAR, PNR, PFE, PHM, UTX, and XRX before the open.  After Tuesday’s close the market hears from ALK, MXIM, SBUX, EBAY, AMD, AAPL, BXP, CHRW, EQR, PFG, SYK, XLNX.

Overnight, Asian markets are mostly closed (Lunar New Year), but the NIKKEI was green as it shook off virus fear.  In Europe, markets are also green across the board at this point, as fear seems to have subsided for now.  As of 7:30 am, U.S. futures are pointing to a significant gap higher of between half and eight-tenths of a percent.

It looks like market fears may be calming a bit after a rough couple days. However, nothing has improved on the coronavirus front and that story is very likely to get worst before it gets better. So, be careful and don’t assume the market has moved on from the story once and for all. Still, the bulls have remained very resilient for months. 

Regardless of what happens, all we can do is stick with the trends.  In this case, that may well mean stepping aside, hedging more or getting small until markets settle. If you do look for trades, hedge your risks, keep taking profits and move your stops to protect yourself. Above all, wait for any new trade to come to you…plan your trade and trade your plan.  

Ed

Sorry, but no Swing Trade Ideas for your consideration and watchlist today. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 took a hit Friday as the spread of coronavirus spooked the bulls.  From a candlestick perspective, all three indices printed Bearish Engulfing signals on the day.  At the close, the SPY had lost 0.89%, the DIA lost 0.60%, and the QQQ lost 0.84%.  As you’d expect, the VXX rose 3.87%, but to a still historically-low 14.24.  Meanwhile, the T2122 fell closer to, but still not in oversold territory at 28.09.  With this all said, all the indices sit only about one percent from their all-time highs.

The spread of coronavirus has accelerated over the weekend, with the death toll now at 80+, about 2,900 cases confirmed and the WHO estimating some 100,000 people worldwide have the virus.  The US Center for Disease Control (CDC) now says there are 5 confirmed cases in the US and they are tracking close to 100 other suspected cases across 22 states. The biggest concern is that China says they have learned it can take up to 14 days for the virus to exhibit symptoms (like the fever which is being used to screen for it) and in the meantime, the virus can still be transmitted between people before those symptoms even show up.

While this is concerning and global markets are spooked at the thought of a pandemic, we do need to keep this in perspective. So far, the standard flu kills more than 100 times as many people each year as this virus has killed. And we haven’t seen “panic in the streets” over the flu.

In the US, the main story continues to be the impeachment trial.  The House Managers (Prosecution) wrapped up their 3-days of presentation on Friday. The President’s Counsel then began by using entertainment language as they classified their Saturday presentation as a “trailer.” They resume Monday, with the speculation now being their portion will be shorter since the facts are essentially undisputed. In related news, it was leaked Sunday night that the President’s former National Security Advisor John Bolton claims the President told him directly that aid to Ukraine was linked to them investigating the Bidens (this claim to be made in his upcoming book). Time will tell whether he ever gets asked that under oath.

Monday’s major economic news is limited to the Dec. New Home Sales (10 am).  Major earnings on the day include ARNC, BMY, and DHI before the open.  After Monday’s close the market hears from FFIV, JNPR, PKI, and WHR.

Overnight, Asian markets are mostly closed (Lunar New Year), but those open are in the red.  In Europe, markets are strongly red across the board at this point in their day.  As of 7:45 am, U.S. futures to a large gap down on between one and a half and two percent.

As of Friday, even with a bad day, the trend remained bullish. However, as the coronavirus story escalates markets seem spooked across the world. A major gap-down to start the week could definitely give the bears the upper hand for a bit. However, the bulls have remained very resilient for months.  Regardless of what happens, all we can do is stick with the trends.  In this case, that may well mean stepping aside, hedging more or getting small until markets settle. If you do look for trades, hedge your risks, keep taking profits and move your stops to protect yourself. Above all, wait for any new trade to come to you…plan your trade and trade your plan.  

Ed

Swing Trade Ideas for your consideration and watchlist: Short: SCHW, KEY, TGT, GPC. Long: VTR, SSRM, ETSY, FSS, FSM, ULTA, JNJ, GDXJ. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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

After a rocky start (likely on coronavirus epidemic fears), markets rebounded in the afternoon to close near their highs Thursday.  The SPY (up 0.25%) and the QQQ (up 0.32%) both closed at new all-time high closes, while the DIA closed slightly lower (down 0.09%), dragged lower chiefly by TRV, even after beating earnings expectations.  The VXX also fell to 13.49 and the T2122 remains in mid-range at 50.74.

In the afternoon, the World Health Organization said it was a bit too early to consider the coronavirus a public health emergency worldwide, saying it remains a “local” Chinese emergency for now.  As mentioned above, this seemed to help markets.  However, this story continues to lead global news as China has locked down (quarantined) more cities each with millions of inhabitants (at least 40 million at this point) and banned public transportation in those areas.  They have also banned the annual Lunar New Year celebration events that had been scheduled in Beijing. 

While apparently most of the 26 deaths from this virus have so far been elderly patients with pre-existing ailments, the concerning news Thursday was that some of the confirmed cases have shown no fever.  This is significant because the only screening tool available at the moment is measuring the temperature of travelers.  So, any cases not showing a fever would slip through transport hub screening undetected.

In the US, the main story continues to be the impeachment trial.  The House Managers (Prosecution) wrap up their pre-determined 3-days of presentation on Friday. The President’s Counsel then begins their presentation Saturday, with the speculation now being it will be shorter since the facts don’t seem to be disputed.

For markets, earnings still hold major sway as INTC posted a big beat (after rallying the last couple days, almost as if that was expected).  Others posting beats after the close included DFS, TEFC, SIVB, SWKS, and ISRG. On the other side, ASML and RJF both posted misses.

On Friday, the major economic news is limited to Jan. Mfg. and Services PMIs (both at 9:45 am).   Major earnings reports are limited to APD, NEE, and WAT before the open, as well as AXP and SYF after the close.

Overnight, Asian markets were in the green.  In Europe, markets are mixed, but mostly in the green at this point in their day.  As of 7:45 am, once again U.S. futures are pointing to another gap higher of between a quarter and a half a percent.

The bulls remain resilient as the trend continues higher.  Still, the charge is not head-long, perhaps with some combination of fear over Coronavirus, Impeachment, weekend news leading to a little caution. Regardless, the trend remains intact.  So, while caution is warranted, don’t fight the trend.  Look for long opportunities, hedge your risks, keep taking profits and move your stops to protect yourself. Above all, wait for the trade to come to you…plan your trade and trade your plan.  

Ed

No Swing Trade Ideas for your consideration and watchlist on Friday. Remember to take profits and hedge your risks. It’s a long way to Monday with at least political and health headline risks in play. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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 higher Wednesday, but then drifted back toward flat the rest of the day.  At day end, the SPY gained 0.01%, the DIA lost 0.01%, and the QQQ gained 0.26%.  The VXX gained 0.82% to a still-low 13.54 and the T2122 remains in the mid-range at 49.57.

The Coronavirus story continues to grow.  China now reports 17 deaths, nearly 600 confirmed cases and it has both quarantined the city and stopped public transport in the city where it was first confirmed.  This threat is complicated by the Chinese New Year (traditional travel period) which is happening right now.  Bloomberg reports literally hundreds of millions of Chinese are expected to travel this week and in 2019 nearly 3 billion trips were taken by Chinese in the 40 days from the Lunar New Year and the Spring Festival (the period that starts this week).  And those trips are not all local.

In the US, the main story continues to be the impeachment trial.  Still, BA also continues to make the wrong kind of news as UAL told reporters it does not expect the 737 Max to fly before the end of summer, the FAA head said there is no timeline for reapproval of that plane and BA’s new CEO told Reuters that it is shelving a new mid-market aircraft project (a $15-$20bil  project) due to the 737 Max crisis. 

However, for markets, it seems that it’s all about earnings versus lowered expectations right now.  After hours last night ASML, BKR, KMI, and RJF all reported misses.  There will also be a number of major earnings reports Thursday, with CMCSA, PG, AAL, KEY, KMB, MTB, MKC, LUV, SWK, TRV, and UNP reporting before the open.  After the close AEP, DFS, HBAN, RMD, SIVB, SWKS, TXN, VFC, INTC, and ISRG all report.   

Other major economic news is limited to Weekly Jobless Claims (8:30 am) and Oil Inventories (11 am).  Dec. Home Sales (10 am).  CNBC feels there is a small bearish risk for US Markets from the ECB rate decision due Thursday about 7:45 am.  However, the most likely scenario is that this is a non-event.

Overnight, Asian markets were mostly in the red.  In Europe, major bourses are also in the red at this point in their day.  As of 7:45 am, once again U.S. futures are pointing to an open that is flat to lower by two-tenths of a percent.

Markets are showing a little hesitance this week. Perhaps this is due to being priced for perfection at the all-time highs. Or it could be some combination of fear over Coronavirus, Impeachment, or maybe even (gasp) less than thrilling earnings. Regardless, the trend has not been broken. It just seems to be in a lull so far this week. Keep reminding yourself that we are extended, but the trend remains bullish. So, while caution is warranted, don’t fight the trend. Look for long opportunities near support but don’t chase. Hedge your risks, keep taking profits on a regular basis and move your stops to protect yourself. Above all, wait for the trade to come to you…plan your trade and trade your plan.  

Ed

Swing Trade Ideas for your consideratoin and watchlist: FMC, HOMB, MYL, ABBV, UTHR, VG, URI, CDW, SHOO, SKX, CAH, ACAD. Trade smart, take profits along the way and trade your plan. Also, don’t forget to check for upcoming earnings. The stocks/etfs 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