So Much More Award-Winning Trading To Come. Enjoy The Ride With Rob!

Okay gang, welcome our first day back after the trading competition. As we take a look today is this, with the stock index futures, which is really the whole story from my perspective. I’m getting my most joy on things as you’ll see here in a few moments. Right now the negative divergences on the S&P, the DOW, and the NASDAQ; equal or higher highs in prices and lower lows in indications. At a high level that’s one of the first things we’re focusing on, and the RUSSELL has actually a fast trigger trade where it’s pushing negative pulls back the bar positive and then starts firing back off negative again. That had nice follow through into today. As we take a look at what this means at a different timeframe, first off you’ll notice here that we’ve got the weekly chart and this is what the real key is. We had previously tested this level on the weekly trend channel, and we hit these levels repeatedly over basically the past year.

Here we are now again testing that level, we’ve been hitting, hitting, hitting. This is what I called skipping rock theory where we hit and then we get the biggest bounces and as the more times we bounce of the key support resistance levels, the more the market weakens, and eventually the market falls to the floor. What we have now is we are hitting that again, and what I would like to see us do is break down below here. If we can actually break through that are and pull back up a little bit, and pull back down we will see a lot more of what I did in Friday’s trading competition.

Friday’s trading competition about $3,260 USD gross of the profit I made during that trading competition was in the RUSSELL. A lot of people and students were commenting “I bet you were shorting that RUSSELL weren’t you?” Yes actually I made about 18 trades during the competition and many of those were the RUSSELL, in fact you’ll notice earlier on in the morning session I had gone ahead with Crude Oil and the DAX. As the US session was starting to get in full swing I started focusing a lot more on THE RUSSELL when the market did such a great job of selling off.

As you can see there are numerous sell signals of mine during this process, which is fantastic. If you don’t see the sell signals there you need to be a part of my student family. To all the people who just joined you can see from day one you made a great decision. For those of you who aren’t part of my student family I would tell you to consider because you really want to be in here as we review all of the trades from the trading competition and what I’ve been doing here in the Live Trading Room day to day. It’s such an exciting time from my perspective of being a trader, so if there is any way you can get into the Live Trading Room you should go to www.becomeabettertrader.com/ltr

The bottom line is this is a huge value, considering what I accomplished in just one day in the trading competition there is a lot you can learn from me, so thanks again for everything and you guys have a great night. We hope to see all of you in the Live Trading Room in the morning or even in tomorrow night’s videos as we continue to watch the key stock index futures. Thank you everyone and take care.

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