Where We Go From Here After Today’s Rally

Okay, welcome back everybody well let’s go in first of all start off with this key chart. Because this is a chart that I’ve been sharing with you even late last year this helped me identify the big drop in the market we had the rising the higher high in price but we had the lower high in the divergence that led to the big sell-off we had then of course going into the new year I said that’s it backing off shorts not looking for shorts anymore and that we went ahead and we pushed up here. Now, the thing is, that we made a higher high again but we went ahead and made a lower high over here and so we had a healthy pullback all right so where are we at with all this well the 65 the 26,500 to 27,000 area like I said that’s just a wall of concrete from my perspective at this point still and so as we went ahead so nothing’s really changed since my last report from that perspective we’ll talk about the dailies in a moment though a little bit different there. So, in the bigger picture though we have not gotten through this 27,000 pullback to it sort of take back off instead what happens we push through it pull back and instead of trying to actually take off it actually made another distribution bar right here that led to the move down hence all the bearishness I gave you leading up to that and through that entire process go back watch the videos you’ll see what I’m talking about.

So, armed with all that information where we at now let’s take a look at the stock market and so as we look at the US indices there’s finally a glimmer of hope for the longs and what we have to have happened now it’s very important so pay attention here with the S&P; we need to get back up above the top end of this channel over here really the 29 – 47 area be even more ideal get above that, pull back, make that support sort of take back off on the Russell here really we got to get above this 1,500 level just to even get bullish because the Russell has been so painfully underperforming the other markets here. It dried the markets down it was an early morning indicator there it’s gotten down stayed down even now today despite all the all the excitement in the Dow and the S&P; that are very close to key levels of breaking out above that could be very positive for the market the Russell is still stuck down here and that’s important. That index of 2,000 stocks we can’t ignore that nice by any means so with that being said the Nasdaq you’re watching the 77,060 area the Dow watching the 26,500 level I’d like to get above that so we go for a test for 27,000 but watch out for the Russell here it’s right now at this 1,500 level and we just need to do better with that it but I said the Russell could then if it catches up to its other brothers and sisters here it can go ahead and you know really you know outperform so the other indices is based on where they’re at so we’re gonna be watching that very closely in the meantime though when we talk about individual stocks I’ll bring it back to, you know, there’s been a handful of them and I’ve continued to show you throughout the year and talked about in special you know, swing trading events and everything else that I’ve done for you guys recently. In Roku was one of those that we talked to Roku is one that comes up on my lists often and you can see why basically this one has the weekly chart has been you know bullish for months here. Took off to the upside we were above the zero line over here as it relates to the daily chart same thing it would get up and pull back to rise in support take back off fire off fresh buy signals go all the way up to target to pull back and now here it is even running through that target too. So, you know the stocks like Roku right now are way outperforming the Netflixs of the world and in fact let’s just pull up Netflix for a moment and you take a look at it’s a bloodbath comparatively speaking and you know Netflix it’s got a lot of competition got a lot of issues going on there I’m you know I’m not as excited about Netflix right at this point with us being down here particularly being down below the zero line and then the weekly chart on the zero as well that’s you know helped precipitate an additional 30 dollars have dropped since breaking down below that level so that’s not the place where we want to be and if you look since we’ve been down below the right over here so this at this point down here around the 330 mark is when we crossed over the zero line here and again that led down to about tonight it’s about $40 from the daily chart perspective.

So, no matter how you slice it you know this is one that I’m not nearly as excited about if you’re looking for a long side trade you’ve got to have a lot of bravery associated with it and hope that this accumulation bar is going to hold here on the daily and the weekly chart so but if it starts breaking down below you know, it could be “look out below” so right now with that being said as I’ve said before, if Roku is one of many that go ahead and impress me far greater and that’s continue to be the case for the last several months and it’s continued to go up after small pullback so at this time it’s very overcooked but you know pullback by opportunities and resumption Got cha of in Reverse inventory retracement from bar trades although the classic inventory of tradesmen bar trades all those have been phenomenal opportunities if you know anything about my work you see an opportunity after opportunity after opportunity with those markets here ok? So, we’ll continue to give you more ideas like that as we go forward and do like our big weekend analysis video here coming up here so we’ll see you guys in the upcoming videos have a wonderful night take care everyone let’s keep enjoying the market. Bye-bye!

[Market update] Rob’s important market levels everyone needs to watch right now

Well, welcome back everybody I wanted to go ahead and try to simplify this as much as possible for tonight so let me just do that. So, first things first from last week’s close as long as we stay above last week’s close which was right here around the 25,900 level the Dow they are futures if it’s all I’m say about there I’m really primarily focusing on long side trades mildly I’l be much more excited about long sid trades once we break above this 26,400 and 50 are even more excited above 26,500 the reason is we got these double accumulation bars back-to-back here and I’d like to see if that’s gonna signal a trend change back into the direction trying to make another attempt at that Dow 27,000 area right now there’s a lot of negativity in the new cycle on that but that’s usually where the best rallies come from so there is certainly plenty to be concerned about out there with Germany potentially on the cusp of recession and so on and so forth so as legitimate things to be on the lookout for and so that’s why we’re also gonna be watching the the downside so the these levels I just gave you a moment ago are the first things to go ahead and watch you know be more bearish below there and more bullish above here okay from a weekly chart perspective now the on a daily basis there could break that down a little bit more.
If you take a look at where these magenta lines are on each of these charts as long as were above those you know I’m much you know more bullish as well right now the problem is we’re struggling and we did that really heavily today all of the different charts yes and S&P, the Russell, the Dow the Nasdaq they’re all inside of these channels at or inside of the channels are trying to break into the channels or they’re in the channels and struggling and that’s why we’re we’re seeing such the challenge today if you notice every time that market tried to go back up it got slapped back down but if it went down it tried to go back up because overall we were bullish because we’re above those speed lines we had those two big accumulation bars from last week so that sent us into a rally into this morning so the thing is, how do you trade something like this, okay?

This is really important and so as I’ve been going and putting out there so many trade ideas to our group internally we you know I was reminded that we have a really big class that we committed to doing for you guys and we’re going to do it here this Thursday where we’re gonna be teaching taking trades because the timing for this is perfect taking trades and using my technical analysis and strategies and combining them with, you know, superior options trades how to go ahead and do that that’s what we’re going to be focusing on here this Thursday at 12:00 Eastern 11:00 central so if you go to BecomeABetterTrader.com/swing So this is this this class is for swing traders, okay? If you do any sort of swing trading if you hold for a couple of days six to eight weeks plus if you’re going ahead and doing swing trading this class is for you. It’s not an intraday, even though the same tools and strategies can be used on an intraday basis this is really this whole class is gonna be geared towards swing traders so calling all swing traders come join me here this Thursday at noon eastern 11:00 central you’re not going to want to miss this.
This is the big class that we promised you at the Wealth 365 Summit and that people have been asking me about frankly for years going ahead and doing this for you on the swing trade basis using my award-winning strategies and then combine it with superior and intensive and incredible option strategies. So, we’re gonna go ahead and be doing that for you this Thursday noon eastern 11:00 central go to BecomeABetterTrader.com/swing and do that right now so that we can see this Thursday and we’ll follow-up because as you can see right now there’s these key levels You want to hold above there’s these key levels to break out above for further longs I’ve already like in my BBT intensive was talking again about a trade that I’d mentioned throughout the year here that went ahead and just performed phenomenally so we’re talking about that again this morning in my be my three-day BBT intensive class and so you know get access some of those secrets and those tips and those tricks that you need to know this Thursday morning. You guys have a wonderful night and let’s keep the good things going here with our trading don’t forget those key levels that it’s mentioned a few minutes ago. We’ll see here this in tomorrow night’s videos and a Thursday morning special event take care everyone! Bye bye.

To learn more about Rob Hoffman trader go to www.becomeabettertrader.com

A Perfect Launch From The Levels And Strategies We Shared With You. So Join Us Tomorrow To Learn And See More!

First things first, a lot of the strategies I taught you during the Wealth365 summit, absolutely went ahead and forecasted this breakout today. We’re going to review those tomorrow during the special event I’m doing for you at 12:00pm CT, 1:00pm ET. Since I trade live money in my real-live account not simulated funny money, you’re definitely going to want to go ahead and be there to walk through that. Today, the key was to go ahead and break through the top end of the resistance. There were 6 layers of resistance on the Russell, I’ve been telling you that all eyes are on the Russell. We wanted to go ahead and see if we could push through there and sure enough we went ahead and did. So the focus was completely on long side trading this morning because of that break. We talked about this, so many of these strategies I shared with you during the Wealth365 Summit went ahead and fired off. Hopefully you can see a bunch of them even as I’m looking here. Whether you can or for whatever reason you can’t you need to go ahead and be there tomorrow morning for the special event. We tied it in, we talked with you here about the WSI indicators. Look at that, 3 out of 4 of them were buried at the 300 level and of course that’s great stuff. Even the Netflix which last week was lower went ahead and started to push out so that did really well here also. So we’ve got a lot of stuff to show you here tomorrow.

I want to walk through why the stuff I told you about in advance worked out the way it did this morning and why we’re going ahead and focusing on this and where some of these setups and opportunities laid in this morning’s session if you went ahead and missed them. Also, don’t forget, all of you who are BBT insider members, today we had the live trading experience and Wednesday, Thursday, and Friday of this week we’re also doing live trading experiences. Make sure all of you get in on that, everybody else: join us by going to becomeabettertrader.com/go. You’ll be able to join us tomorrow at 1pm ET, 12pm CT. Instead of being a two hour event that’s focusing on a bunch of strategies, I’m going to go ahead and be shortening it and focusing in on one key strategy here that went ahead and proved itself time and time again here even just this morning and over the last couple of days leading up to this explosion. We’re going to bring it all together for you tomorrow so whether you’re a day trader, swing trader, small account, or large account, tomorrow is going to be a very special event for you. Go ahead and go to becomeabettertrader.com/go.

I’ll give you live market updates during the event so that’ll be better and more timely than doing them here this evening. We’ll show you in the here and now what we’re focusing on, what we’re trading. Thanks a lot gang, I’ll look forward to seeing you at this very special event tomorrow and putting together the pieces that I’ve been building up for you in these videos the last several days that just worked out flawlessly this morning, exploding to the upside once that break on the Russell took place. Thanks everybody, we’ll see you tomorrow.

Here’s What’s Next After Today’s Must-See Trading Session

Okay gang welcome back!  Let’s go ahead and take a look at today because it was such a great day in the end.  We were looking for a down move today.  We really wanted to break down below the speed lines.  We wanted to continue to the downside with the stock index futures.  We had nice stochastic sells the other day.  So today was the follow through that happened once we got through the speed lines.  Now as we go into tomorrow, we are oversold on the stochastics.  Typically what we expect to see is some sort of bounce.  What I would like to see happen tomorrow is that we would get a small bounce early on followed by a drive back to the downside.  I am also looking for guidance from the DAX.  As you recall from yesterday, the first thing I wanted to see is to break down below the inventory retracement bar.  In the end, that is exactly what happened.  Here again you can see we are oversold in the short term.  I would like to see some sort of bounce tomorrow morning.  I want to see that even if the market goes down first and then gets some sort of bounce back up followed by a roll again.  Breaking this level here on the DAX is going to be important.

There are inventory retracement bars galore on a handful of the stock index futures.  I would like to see a concerted push after a short rebound with another roll over to the downside.  I know that it is a tall order because the stochastics are pretty oversold in the short term.  But if we can get the DAX pushing down, and the stock index futures pushing down, that could still lead to some good shorts.  There is an abundance of opportunities right now.

I would like to share an important story from this morning with you.  It talked about practicing what you are preaching.  In my fear of pulling the trigger and handling drawdown we talk a lot about psychology in general.  Of course that is a part of the membership with me here.  One of the things that we talk about is if you miss a good trade the next good trade will be right around the corner.  We experienced that this morning.

I just came back from Colorado and John was running the trading room on Monday.  I came back to it yesterday morning after a long night drive.  I was definitely tired and I was still able plow through the morning just fine.  I was still exhausted especially after my daughter’s birthday party yesterday.  So what happened was I missed a trade.  Whenever I have the drawing tool up the screen temporarily locks up.  One of the trades that I was looking for actually happened when the screen was locked up.  It is important to note that I was drawing what I was looking for in the market.  Overall I missed one of the trades this morning.  I recomposed myself and persuaded myself to come back by realizing the next good trade is right around the corner.  Sure enough, there were several setups that happened this morning.  We actually ran the trading room over this morning because I was still hunting and trading the room officially would have closed.  It just goes back to prove that if you miss a trade for whatever reason if you get frustrated and make revenge trades, you are likely to lose a great deal of money.  You all know exactly what I am referring to.  It is important to just wait for the right trade, at the right time, for the right reasons, and the opportunities will come.

Hopefully that is a word of encouragement regardless of if you are in the trading room or not.  If you were in the trading room you got to watch how I quickly recovered from that missed opportunity live.  If you were not I really wanted to share the story because most of because many of us miss a trade and then follow it up with a revenge trade.  That usually ends horribly for all.  If we are lucky enough that the trade doesn’t end up with disastrous results, we end up with a chance of failure in the future.  With the trading opportunities that are ahead in the next several days there will be a lot of great chances.  So if you miss one, the next great chance will be right around the corner.

Rob Looks At The Market From A Different View Tonight

Welcome back everyone. I have a quick update for you tonight in a little bit different graphical format. First thing’s first is on the Euro when we go back into last year. Last time we had a close above this down trending channel right at the end of June beginning of July time frame. Since that time, we’ve had multiple hits and for a very long time I’ve been commenting on the Euro and even back here when we broke above just intraday I commented one day doesn’t make a trend and we need to have two closes back above to say we might have a reversal instead, but we had a close down below and made what we call a Hoffman Inventory Retracement Bar closing 45% or more off the high and that was all she wrote back to the downside. Here we are again testing those areas and are continuing to fail and that’s why my focus has been short side still to this day on the Euro. It won’t be until we get two bars back above this channel where I’ll have any sort of great optimism to see some more swing trade based longs as we continue on here.

Gold is going to be something similar. I would like to see two bars close below this inventory retracement bars or two bars back above over here, because both of these inventory retracement bars are just big fat resistance levels until they are broken and what I’m really looking for here is two bar close above the channel or below the channel. When we get these multi-bar closes below the channel it usually leads to some good shorting and when we multi-bar closes back to the upside it can lead to some movement, but right now we are just whipping back and forth in this channel. I need a little bit more to see with Gold before doing anything there.

Similar situation as well in Crude Oil. If we go to Crude back in August of last year since we had one bar close back above then you’ll notice numerous tests of the channel over and over again. Same thing that we’re having now. We’ve had multiple attempts trying to break the top end of that channel and have each one close back down under there, and we finally had one bar break above there where we wanted just a second one and finally have some major buy side activity in crude oil where we fell back into that channel and held once again in today. I’m looking for either multi-bar breakdown to the downside or the upside, which I would prefer the upside. What I am looking at this for is all the opportunity back to the upside. That could be some huge short covering rallies and buying some off of these lows where you have a positive divergence over here and put on some of your favorite indicators you’ll see we have a nice positive divergence here as well. I would like to see us move back to the upside with some good head rippers and that would be pretty fun.

Here is the RUSSELL and you’ll notice how well the RUSSELL has been doing holding the channel, and even today right to the midpoint of the channel coming back to close right near its high.

The S&P is sucking wind and is really getting beaten around inside and just below the channel.

Same thing with the DOW, you’ll notice we’re below the channel, and also with the NASDAQ. So you see we have a 3 to 1 scenario here and the RUSSELL holding strong and the other 3 markets are very weak. We either need the other three to join along and that could lead to some great long side trades, or we need the RUSSELL to capitulate and see all the other market drop to the ground fast. If you look at the overnight session for the RUSSELL it took just the 800 contracts to drop this thing a huge amount last night very fast, where in the middle of the trading session today it took several thousand contracts rather than 8. So we have to let that fight sort itself out and focus on the RUSSELL rather than the other three that are all sitting down below. Someone is going to lose that battle and those other three are going to spike heavily back up and join the RUSSELL and this whole thing will tear to the upside and lead to great buy side opportunities or all four of them could capitulate and they fall out of bed together. You all have a great evening and I will see you tomorrow morning in the live trading room or tomorrow evening in the nightly videos. Take care everyone.

Enjoy This Extended Free Trading Video From Rob Tonight

Welcome back gang. As we take a look this evening let’s look at the Euro. Over the last several weeks in the archives we had a lot to say about the Euro in the last several weeks, both breakdown points and even as we were getting retracements in this area and these areas as well. So we’re not going to be focusing on those long-side trades until such time until we broke back above the channel, because something powerful like this channel in the Euro can have a great affect. For those who were getting excited even when we had the positive divergence over here, if you recall I’m like well that’s great but I’m still not going to take the long until we get above the channel. So the focus was on short side and short side only trading. Now where we are is we continue to see after all that discussion for the last couple of months where are we? We’re at new relative lows over the last several months. Pretty great stuff. As we go into the next couple of days watch out, I think we have some ECV announcements tomorrow morning, but basically what I’m looking for outside of that actual news release, where I don’t want to be trading in the middle of, I’m looking for fresh shorts down below the 12280 level. If it happens right during the discussion level there is too much risk of a snapback and retracement, but as we go into the overnight session and the announcements in tomorrow’s session if we can stay below that 12280 level we will be looking for short side trades there.

Let’s take a look at gold. Gold right now had this rapid sharp movement, it was in this consolidation I presented to you last week. We had a nice move to the downside, which was quite large. In this holiday trading we had this push back up. After a move like this I would like to see spike to the downside and move right back up. I would actually like to see follow through right back up. We still have some major resistance a few hundred ticks away from us. So we were actually following along with that this morning as we traded in the live trading room, but it didn’t materialize, we ended up focusing on stock index futures long side trades. The goal was very close on the radar, so we’ll be watching for further opportunities. If it dipped back down into the channel I’m not going to be interested so if it falls right back into this channel here I’m not going to be interested in taking a trade there. It’s just not going to be a trade there. It’s just too much of a 50/50 trade there. It could spike anytime and the risk reward isn’t that great. Long side trades are a bust on gold is what I’ll be looking for.

Taking a look at crude oil here. What can I say I’ve been talking about this for several months in these videos you’ve heard me say the same thing is bearish on crude oil? Over and over again we’ve been holding the channels to the downside here. For the first time in quite a while have gone sell side back in July on a core trigger, not just my fast trigger, which had a razor burn sell signal over here. The first time you had double sell signals and just basically we are setting out milestones that I want to break. If you go back to the archive videos and see the proof is in the pudding. What I say generally happens, and as we take a look over and over again this continues to break down sharply. Beyond my original expectations I went ahead and put out revised expectations on that. We kept meeting/exceeding each one of those which was great. Now we’ve had a big move on Friday of last week. What we’re looking for now is in this downside between 66 and 64 shorts in there, if you take straight trades in there you have to watch for whip saws back in there. What I want to see is if the speed lines are going to open up down near the price tomorrow. I’d actually like to see a speed line down to 20 back over here. So in other words what will happen in the speed lines move down and try to get above there and look for long side trades? Especially if we can push above those speed lines and start to rally back up again. That would definitely be a trade I would like to take in the short term.

Now to take a look at Japanese Yen is another one I’ve been talking to you about this for months and months. We’ve actually looked for 20 speed line trades on that, but it doesn’t get through, but doesn’t hold above the speed line at all. As you recall I mentioned something extraordinary to you about the Japanese Yen which has become a part of history at this point. We mentioned that this is the weekly chart and my indicators were flat for months. When this breaks out or breaks down its going to be a huge move so it started to break from the downside and from that point on it was all about fresh short side entries. That continues to go ahead and be the case as we’re sitting here near these lows. Nothing has changed with that at this time, I’m not going to really fully disband the short side thinking on this until we can start getting back above that channel there. So in the short term retracement rallies are going to be met with short side activity from my perspective.

The British Pound we’re kind of holding that key level I’ve been showing you for the past month basically this was a key level and we got a break and are continuing to sit at that level a year later, and will continue to work time and time again. Until we get down below this 15580 level I’m not really interested in doing anything. If we hit that 15580 level I’m not really interested in doing anything but if we get down below that level we will see some differences in price on the British Pound as well.

Finally with the stock index futures they were of course the focus of today in the Live Trading Room. The trading I did was long side trading. Right now this is the story. I expect a lot of volatility all the way into the New Year, which if you recall I said that this summer as well and then look what happened. We had massive amounts of volatility the last couple of months and so we’ve got a lot of great stuff going on and that’s going to continue for us as we go into the New Year. It’s a great time to be a trader as I have mentioned. Here is what I’m really looking at is we have kind of a split decision and this is important for you to understand. On the fast triggers we have this magenta blue magenta which normally foretells lower prices. At the same time we’re still holding on for dear life on the core triggers as blue here. Even the RUSSELL went back to blue on the core trigger today and we’re staying blue on the others. This is important because I want you to see what needs to happen here. Either the RUSSELL needs to break out to these downtrends here, these magenta blue magenta negative moves need to resolve themselves by breaking back out here and going back blue. Then you have the underlying structure and the short term structure going blue and that could lead to much higher prices. Or what could happen is this core trigger could start to roll over now. As you see over you get these negative divergences like we have right now in the fast trigger versus the core trigger notice what happens here when the core trigger ended up losing the battle to the fast trigger we ended up having much lower prices and huge retracements down in the market. Down from a capital preservation/market timing perspective you’d much rather be getting out up here than down here as the market is falling a thousand points. That’s why it is so important to understand that we really want to see what’s going to happen. Will the fast trigger start to actually push back up in prices and push back up into the core trigger or is the core trigger finally caving which could lead to much lower prices. So that’s where we’re at and that’s what we’re watching right now on the RUSSELL but I’m all for the stock index futures together. That’s going to be the key theme for the next several days because those will be affecting our swing trades as well. If we can get those fast triggers going out with the core triggers then we have a whole new opportunity to the upside if the core trigger however succumbs to the fast trigger then this market could be due for its next rollover. That’s the best part about being a trader is you make great decisions in the short immediate term and you can use this work. Nonetheless, great stuff going on with the market and what’s going on with the great year. In the summer I said it was going to be a great back half of the year and its proving to be the case. Please keep your comments, suggestions, and ideas coming into us. We look forward to seeing you either tomorrow morning in the live trading room or tomorrow night in the nightly newsletter videos.

The Stock Markets Key Must-Break Levels Are Very Clear Here

Okay gang, welcome back. Well looks like I’m going to be seeing a lot of you in Las Vegas so very exciting. I’m looking forward to spending a lot of time with you guys here. Mostly trading education, but also taking you aside and helping you anyway I can in your individual trading questions in Vegas as well. As we kick off tonight, a couple of key things we want to focus on. The VIX still continues to be around the 14 level, on the 14 level and above I find that stochastic spike type trades are very responsive. We saw that over and over again this morning in things such as the euro, and the U.S. stock index futures. In fact as it relates to the euro I was shorting it throughout the morning and the stochastic spikes continued to work for a while. Even the daily chart as we closed up on Friday afternoon went ahead and led us into a Monday stochastic spike, which then led us to a big sell down here. Nice follow through on the short side with the euro. Going into tomorrow we’ll see continuations there, we are still in an accumulation bar, and still look to see if we can push down towards that 124 level. If it starts pushing back up, I’m going to just avoid it. I’d rather take the short overnight trade or no trade at all.

As far as stock index futures go, that was quite an adventure today as well. I cannot emphasize how important this is. You have these huge tails on the downside here, huge tails from up above. You’re really marking your territory here down on the S&P, with these huge whip saws back and forth and we could not break that inventory retracement bar on the upside from today. We actually made an accumulation inventory retracement bar as well. We have really defined territory looking for aggressive shorts below, especially since there is all this room to grow, or even looking for longs up above. I want to make sure if we’re going after those longs above then we are going to agree on the DOW and the S&P here, because we have these inventory retracement bars that have been concealing and prohibiting our range of motion to the upside here. I show how this works on an intraday basis each day in the Live Trading Room. It’s magic, yet its really not, it’s real world trading so its important to respect these levels.

Of course the Russell the focus was on short-side on the Russell here this morning, it is really keeping this market from pushing to the upside here. As you can see it’s down below these speed lines. Russell has led this market many times this year and so far continues to keep us from having any sort of meaningful forward progression here. Until that Russell gets back above these speed lines, I’m not going to be very aggressive on the long side.

A couple other key markets I want to focus on as far as the bond, it went and came up to the bottom end of the key channel I continue to point out to you each day and remember what I want to do is get above the top end of that channel for long side trades. Right now what we’re doing is actually coiling up quite significantly. Just like I showed the same kind of concept and pattern on the Japanese Yen for you a few months ago, how we were due for big moves when we get out of a situation like that, well we’re coiling up again here so we’re due for some pretty healthy big moves. If we get back above the top end of that channel, last time we had a monstrosity of a move in bonds over here. Of course there was news as well, but nonetheless it had to break that key level and then it was free to go. We’re going to see if we can do something similar and get back above that level. I’m not looking for as large of a move, but just looking for continuation if we get above there, but we were stuck in the bottom end of that channel for today.

Last but not least we want to take a look at the British pound. British pound is holding at my target for the last two days, but we locked in a distribution bar today. What this did is we have an accumulation bar from Friday and a distribution bar from today. There is one heck of a fight taking place in here today. That clearly helps us define our area, where we want to get above this area for longs and down below this other area for shorts. Whenever you see a situation like that for a bracket here just look for some breakouts and breakdowns. You guys have a great night and again I’m very excited and looking forward to seeing you at the trading challenge and the speaking engagements on Thursday, Friday, and Saturday and helping you guys anyway I possibly can in the upcoming days. I will see you in the Live Trading Room tomorrow morning or in tomorrow night’s videos.

Not Just Great Analysis, But More Great Trading As Well…

Welcome back gang. Let’s go ahead and take a look at a couple of things. Before we do, I want to thank everyone who sent those warm wishes and condolences to Sarah and our family. That was very kind of you. It’s always overwhelming to see the outpouring support that you guys have given us over the years. Like 40th birthday parties, weddings, and of course all of the sad stuff as well like people passing away in the family. Thank you for all these years of being with us and we continue to try to help you with the different ways that we do as well.

As we go ahead and come into today I just want to follow up on something. In last night’s rush to get through some things, I did go ahead and left you some very important information on some things we traded today. I did forget to mention Apple and the reason why is actually because Apple in the session here, what happened yesterday was we were talking about this in the Live Trading Room and so what I told the gang is I want to get above this 10.30 cent level, I want to pull back down towards that and start to take back off again. That actually happened yesterday morning after the U.S. opened. We pushed up there just above that 1030 level, pulled back into that area and start to take off. From my perspective that was the buy point. As you’ll notice that buy point held from there on out, and kind of took off for the past couple of days. It’s actually a buy from my perspective in the Live Trading room yesterday, I forgot to mention it last night, but the bottom line is we saw the follow through on that today. Just so you know, since we didn’t cover it alast night, the reason why we were looking at the fresh buy signals on this was pushing through that key inventory retracement bar from the other day of course, it’s a key strategy. Its one I’ve used many times on Apple and many others alike, I actually teach it off the Apple chart, and then we went ahead and pushed through that level, pulled back, and once again took back off.

Beyond that I really want to look at the stock index futures, because this was a big deal today. What happened on an intraday basis was this. I had newer students very interested in taking trades, as you can imagine, the market was popping up, the NASDAQ was going up here, Apple was going up here and was on target from what we were talking about here. This was what we were telling people about yesterday with our trading strategy. Everything was firing off cylinders from the NASDAQ. What happened there was a couple of things, my indicators was showing the 3 musketeers here is that it was starting to wane. Which was funny in last night’s video I did a whole tutorial on this for our indicator family and our regular premium members and of course saw it again today. It’s happened several times in the last several weeks that we have done classes on this. The bottom line to what we’re expecting is this, it was a fantastic strategy where my fast trigger and core trigger on the 2 minute and 5 minute fast start to rollover and let loose. Long before that ever happened we actually had told people to watch out for that because I had said listen, the NASDAQ is going up and we have new students joining our student family all the time that are trying to get me to buy it because of the new students that keep telling me to buy. When I keep saying look at the RUSSELL because it has been the leader in many cases this year. So the RUSSELL was coming down here, which I kept referring back to the RUSSELL throughout the morning session here, and you can see that just continues. I asked does anybody else besides me find that interesting. And of course that led to the big sell off shortly thereafter. It was a great reminder using all of those tools and techniques all in one. Sure it led to some trading for us in the stock index futures, but the real prize today was the crude oil.

Do you recall the very first chart I shared with you after memorializing Sarah’s grandfather last night was crude oil? I said this is one that we’re going to very specifically look at going into today, from the perspective that we’re looking for inventory retracement bar breakdown or a breakout up above if it gets above this area over here. We’ve been talking about the quality of these trends to the downside here and I was seeing if we could get down below we could get down much lower. So walking in the door today that was the focal point. As you can see this was the time stamp in the Central Time at around 8:30 this morning I had pointed out that we had the daily, weekly, monthly pivots there and also my 80/20 rule at 7580. We also had the big inventory retracement bar that I pointed out to all of you in the video from yesterday so in total we had four over here on this chart and then another one over here. We had 5 different support levels all within 7 ticks. Huge, huge, huge, and we were looking for that to break this morning. So all of the trading the rest of the day was focused on that beautiful short side crude oil trading. Great stuff. Great way to use these nightly videos and even these free ones and tying some of it in and actually use it on an intraday basis as well. Not to imagine how we look at some of those swing trades which can get launched out of the Live Trading Room as well. Kind of like Apple yesterday when we were even trading intraday.

Going into the next couple of days I’m going to continue to watch crude oil. I keep saying over and over again in these videos where I hit my initial target of 85 dollars and breaking through each key support levels and continue to get opportunity to break down. We’re going to be looking for short side trades as soon as fresh sell signals hit. So whenever we break inventory retracement bars, get momentum shift with trend bars, other fresh momentum shift breakout bars. All of these things become fresh sell signals. Whenever we get those fresh sell signals like this morning we broke those 5 bars all within a 7 tick range based on daily, weekly, monthly numbers you can bet I’m going to be all over that. Great stuff. You guys have a great night. I will look forward to seeing you all in the Live Trading Room tomorrow morning or in Sunday’s nightly videos. Take care everyone.

Tonight’s Market Update Is Dedicated To Sarah’s Grandpa Ted Who Just Passed Away Today

Welcome back everyone. Sad evening for us. Sarah’s grandfather on her mother’s side was admitted to hospice, Monday evening and passed away a few hours ago. So sad evening for all of us. If you recall a few months ago Sarah lost her mother on her dad’s side from a massive stroke. Just an unfortunate time, a happy time to have our beautiful daughter, but sad that Sarah is losing her grandparents. Her grandfather was always a fantastic person to her and her siblings, and he was also a World War II veteran. He was a great person and will be sorely missed.

As we dedicate this video to him and my lovely wife Sarah, I want to focus on just a couple of key markets tonight so we can get to some family services this evening. A couple things you want to keep in mind for everybody here.

Crude oil is something that is very much on our mind, if we get down below the 76 level we could potentially see much lower prices, so we’re really watching this inventory retracement bar down to 76 and the inventory retracement bar back up to the 80 area. If we can get below the 76 we could see prices easily of course to the 75 and even potentially the 70 level. If we get above 80 we could see a quick jaunt to the 82 to 84 area. So we’re going to be watching for a breakout/breakdown for those two different areas.

Another one we’re going to be watching for an overnight trade going into tonight and even trading beyond is the British Pound. The British Pound closed right down below its lows and this inventory retracement bar. We’re going to look to see if we can stay below these speed lines and actually start selling below the 1.5650 or lower. So those will be two that we’re going to be watching going into the next several hours and even days.

Also the stock index futures, strategy for those will be this, as we take a look at all four stock index futures. We walked in this morning and the NASDAQ held the speed lines, the other 3 major stock indexes did below those areas, and then quickly recovered. So we did not focus on short sides, since by the time we got to the U.S. session we were pretty much at or near their speed lines and above so we were really just focusing on long side trading. The trading room this morning was full of long side trades and was the main focus. Going into tomorrow and the next couple of days, I’m watching to see if we can get above these inventory retracement bars and these resistance levels as you can see above us here. At the same time since we are above those speed lines I’ll naturally gravitate towards long side trades first to get short really aggressively on a day trading or on a swing trading basis in particular. I really want to get below these inventory retracement bars really now more than ever after today’s activity. If I’m a swing short I want to get down below these levels that you see highlighted on these major stock index futures, because the market tends to walk the stairs up and ride the elevator down, so if we get down below those levels you might see us closing that gap and get down to that rising support underneath us. So from a swing short perspective that would be a little more of a focus.

Along those lines as we take a look at the DAX tonight, it is holding nicely above that 9200 level and held quite strongly, and bounced quite a bit off of it. For those swing shorts once again especially for some of our favorite European stocks, we’ll be looking to get above that 9200 level. Anywhere from that 9200 to 9400 level is going to be a “No Trader’s Land” and focus on intraday charts for any trades there. We will not be looking at any swing trades here until we can break down below that area, and even more preferably 9100 because as you can see there is lots of room to the downside that would make for nice swing trading longs or even shorts in the 9400s. Those are the key areas we want to focus on tonight, and again we want to keep Sarah’s grandfather in our thoughts tonight in loving memory. Thank you very much gang for being with us tonight and we look forward to seeing you in the next coming day’s videos. Take care everyone and have a goodnight.