After Exciting Live Trading This Morning The Theme Is Balance

Welcome back everyone! I have been telling you that the markets are overall up. Even the RUSSELL, which is pulling back at this time, is still in an uptrend in the bigger picture. There are plenty of accumulation bars in the backdrop as well. You have certain institutions that bought down below. They were betting that the market was done for. There are others that are thinking this is a buy opportunity still. They are willing to absorb these pull backs for the expectation of further gains. You have a market with some rotation going on between the different firms.

Yesterday we had two and two. The NASDAQ and RUSSELL were both under pressure. The DOW and S&P were stronger. We actually did trades on both sides of the fence. That was for shorts and longs. Today it was more balanced in the direction of the longs. Even the RUSSELL was stronger earlier on in the morning. When we came in, we were firing off my institutional indicators. Obviously I fired off multiple long side trades. That was the best trading of the morning. The RUSSELL started to grow weak and also pulled back. I basically backed off at that time. That has led to a market that is trembling along. There haven’t been any real gains at this point.

I am going to be watching for more trading. Right now we are balanced. We really want to see some imbalances. We are watching the RUSSELL very closely. The preferred trade of choice would be to continue the long cycle here. The RUSSELL would have to come off the lows. It would ideally get through the 1717 area. That could lead to some more upside pressure on the markets as a whole. These markets certainly want to go long. We have seen accumulation bars after accumulation bars. Someone is looking at these pull backs.

You have an almost equal force of sellers and buyers. We are looking for imbalances right now. I want to see one side just give up. I want to see the sellers say they are done selling. I then want to see the buyers decide to buy more! That is why I have been more willing to aggressively go long. That has been the right thing to do. Everything has been saying buy here. I need to trust my work. That is exactly what I did. I am not oblivious to the fact that we are at lofty levels. I will want to see if the RUSSELL deteriorates. The preferred trade of choice will be the RUSSELL lightening up above the 1713 level. I hope it pushes about 1717 for an afternoon rally. That is the preferred day trade of choice. I am going to show you some things that I will want to be on the lookout for in the future videos.

The Theme has been balance. Speaking of balance, don’t forget that we just added several new speakers to the upcoming Wealth365 Summit. These are speakers who have never been on this show. You will not want to miss them and the experts who will be focusing on the earnings season. Go to www.wealth365.com/bbt right away to sign up. It is free to register! You will not want to miss that event! There will be some great pre and post show events as well. There will be people giving pure content during their presentation. There will be a lot of really great stuff this time around. I am looking forward to you all being there. Go to www.wealth365.com/bbt to sign up!

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