Excellent Trading Today And A Lot More To Come!

Welcome back everyone!  Today was packed full of great trading!  People got to watch me make several trades in the room.  I handled those very well.  There was even some long side retracement trades.  I like to call them Three Musketeers trades.

We did break through my resistance levels on the Bonds.  We had my Hoffman Inventory Retracement Bars.  That led us to a very quick move to the next layer.  That put us at some resistance at the 154 level.  That will tie in very closely.  That will be the next resistance level to break.  If we can break that, pull back, then push back through for real, we will look for the real push through.  155 will be the next layer to the upside on the Bonds.  As soon as the September contract merges with the original contracts, I will start showing you some of the long term resistance up above.  There is some wonderful opportunities if we can make that 154 level a support level.  There is some great movement opportunities to the upside.  I will continue to watch the Bonds.  We are now starting to see the action I was telling you about.

The Stock Index Futures were a lot of fun today.  My strategy was that if we got below on the Stock Index Futures, I would focus on short side trades.   The NASDAQ had a tougher time doing that.  It did get below the fast speed lines.  The other ones got below the fast and the slow speed lines.  We elected to fire off trades this morning.  Right away in the Live Trading Room we were guns a blazing.  You can see my momentum and institutional trader pack firing off to the downside.  The day started off with a great trade by John.  My trading came on the back end of that.

I basically identified the bottom of the market there.  I showed people my advanced trading.  I show small lot trades, institutional trader trades, and everything in between.  People got to see my Three Musketeers Trade today.  The Hoffman IRB identifies Institutional support and resistance levels.  They are one of many of my strategies that I teach.  I show everyone that in the trading room.  That ended up being the short term bottom in the trading room today.  I did several trades this morning.

You see that we did a great job recovering back above the speed lines on the S&P.  We are still sucking wind on the RUSSELL.  We got back above on the DOW.  We are still back above on the NASDAQ.  The DAX is just beating to its own drum.  They did both sell off this morning.  The DAX was pushing down nicely when the others were as well.

I am just as willing to focus on long side trades as short side trades.  I would like to get above the mid-range of gobblygook here.  I would like to get above yesterday’s highs on the S&P to get warm and fuzzy about the long side trades.  I would be a little more cautious going into tomorrow’s session.  We have these big fat accumulation bars again.  This is where one or more institutions stop this market from sucking wind.  If we can break through that area we are likely to see some aggressive selling kick in.  Because we did such a good job of recovering this morning, I would like to see follow through tomorrow.  We do have a pretty low VIX all things being equal.  Right now we are around the 10.41 area.  We did have a nice bump earlier today.  The low was down at 9.93.  We still have a pretty low VIX.  We are going to look to see if the market can sell through the IRBS tomorrow, or if we break above those highs.  That is what we will look for as far as direction.  We love to see the trades like this morning, and that is whether we are catching the reversals off of the bottom or getting the nice trend trades.  You can see everything was firing off on all cylinders this morning.

Get into the trading room.  We still have the opportunity to join!  Go to www.becomeabettertrader.com/25x now to get signed up.  There you can watch me do it.  If you aren’t doing it with your own trading, come watch me!  I look forward to seeing everyone in tomorrow night’s videos or in the Live Trading Room tomorrow.

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