Important Key Levels That Every Trader And Investor Needs To Know Right Now

Welcome back everyone! We are heading into the holiday week!

We did hold the key support levels I told you about successfully. We did lock in distribution bars on all of these stock indices. Selling came in on the back end of lal of these. We literally have an accumulation bar on the bottom side from Thursday. We also have a distribution bar from Friday. There is a huge period of indecision. We need to look for a break out or break down from that area. That could give us more commitment for active trading type funds. I am going to watch that going into the beginning of next week.

We don’t have a lot of economic data Monday or Tuesday. That will come later in the week. Any move that is helpful would probably come from an unscheduled news. These are the ranges that we have to watch more diligently for more meaningful moves. Anything between these levels will be more a day trading focus on intraday charts.

We have these hockey stick sells on the Tesla. Those are on the daily and weekly charts. That has kept us under pressure. You can see when that happened it led to a sell. There was more selling heading into today. We didn’t get those breakout opportunities. We were talking about some of these.

Amazon is stuck at round number resistance here. That is the 1700 level there. We are going to be looking to see if we can break above those key levels on the stock indices I just mentioned. You will notice that on a weekly basis we had a big distribution bar. This week we had a big accumulation bar. This is the same epic battle taking place on a weekly basis. I am really watching these levels very closely.

I have been talking to you about the bullishness with Crude Oil. We were up again today on that. We are also up very big on the week. As long as we are above the main level I will look for long side trades. I traded Crude Oil long in the Live Trading Room this morning. The $73 is the key level I want to stay above. I am going to be looking for further long side trading.

You can see the same hockey stick sell patterns that led to a sell to the down side. As long as that stays under pressure, it could be really hard to solid momentum going for the market as a whole. We are getting very close to some very support levels where it is do or die on Goldman Sachs.

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