Our Alerts, Key Levels, And A Breakout Strategy Reviewed Tonight

Welcome back everyone! Let’s take a look at several things here. We started off having some key accumulation bar support in the U.S. Markets. We also had very specific resistance on top of us as well. This made it very clear to see what we wanted to see happen. I put out a very specific trade alert for everyone who receives my trade alerts. You will notice that it worked extremely well.  It did end up breakup on the RUSSELL. That launched up to the upside.

You can see we broke through that all important resistance level from the video this morning. That propelled us on the NASDAQ. That is why I said that I wanted to watch the RUSSELL and trade the NASDAQ from a small lot perspective. From a large lot perspective, I wanted to watch the S&P.

We are going to see if we can get some follow through. We are still lagging on the DOW and S&P. The RUSSELL is going to be a key amount of interest to me. It will be around the 1550 area.  I want to get above that and stay above that level.  I am not using the RUSSELL as an active trading tool right now. I get more dollar for dollar out of the NASDAQ, or the S&P on more volatile days. The stochastics are very high on the RUSSELL. I am going to be watching that very carefully.

A lot of the things I was looking for happened on AMZN.  I am watching this area closely. I want to see if we can actually break through here, make it support, then take back off. We could easily see 1600 if that does. We have some distribution right now. It is one of the smaller bars on the table.  We just have daily distribution on the daily chart. That is a common theme you hear me talk about that.

I wanted to see us in December break through the 120 level on the EURO. It wasn’t from back here where we were failing to break through here. That was in the August or September range.  You can read the following article for proof.  I said that this 120 level is major resistance. I wanted to break through it, pull back to it to show that it is support, then take back off. That is what happened here. It pushed through 120, pulled back to 120, then took off like a rocket to the upside. That is exactly what I wanted to see.  When I share that concept with you that is exactly what I am looking for.

I hope to see you all in the Live Trading Room tomorrow morning or in tomorrow night’s videos!

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