The Excitement Is Building At These Key Market Levels

Welcome back everyone! I Hope you all have a fun extended weekend with the U.S. Markets being closed yesterday. I want to start by looking at a few key things first.

We are at some very important levels right now. We are barely holding on to the speed lines for dear life. That has been going on for weeks now. That is why we have been watching the RUSSELL so closely. You will see that we came down, hit the speed lines and bounced off. We even pulled down below the speed lines just to close above. Today we pulled down well below the speed lines just to close back up in there between the two speed lines. There is another accumulation bar here as well. That is mixed in with distribution bars in the back drop. There is one heck of a market fight going on.

I equated this to a big fat tug of war in the Live Trading Room this morning. Right now both sides are very equal. However, one side is going to lose this battle. That is where trading will get really exciting again. This is going to chop some traders up. It could also cause some traders to lose some money. We didn’t lose any money this morning in the Live Trading Room.

I want to see if we can hold the speed lines with a takeoff tomorrow. I would like to see that for a long side trade. If we dip back down into the accumulation from today I will be more guarded. I would love the opportunity to short because the markets are well priced. Any bad news could force them to tank. About the time the shorts look good, the markets could snap back and bite your hand off. We have accumulation bars on all four stock indices today. I will be more cautious with shorts. That is unless the intraday charts give good sell signals. I would rather us get above the speed lines because that would be the easiest long to me.

I told you about Goldman Sachs as well. It was down, and stayed down below the weekly channels as well. We got above the 240 level that I told you about. That led to a nice rocket ship for a couple of days. I wanted to see if we could get through 245. If that were to happen I figured it would bode well for the markets. If the opposite happened I thought it would be bad for the markets. We ended up failing the 245 level. This market is really struggling right now.

I have been talking a lot about Amazon in these videos. The daily and weekly charts were looking phenomenal. We had numerous buy signals with my Institutional Package of Indicators. They have continued to fire of buys. These also have continued to bring some more impressive opportunities as well. That information is also coming from www.wealth365.com. That is your around the clock financial news site. There are a host of different things you can get involved with. This will show you the things that could affect the markets as well. That includes politics especially.

Facebook was down and hurting as well. That stayed down too. Apple and Amazon was rising very well. Look at the indicators just going nuts there. Check out www.wealth365.com! There are a whole slew of indicators as well. The middle ones are very important as well. Those are the ones we look to see if they break out of break down. Those could give us some fresh trading opportunities as well.

You guys have a great night and I look forward to seeing you all tomorrow in the Live Trading Room or tomorrow night’s videos!

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