Join Us For Another Great Live Trading Room Session Tomorrow Morning

Ok gang, welcome back! Boy, this morning’s event was incredible. We had massive attendance at the Infinity event and what a great way to kick-off the year. You know, I’m doing this video a little bit early here. We have a handful of minutes now before the FOMC minutes hit. The primary reason that I’m doing that is, as you guys recall, I’m having some internet issues. Turns out my modem isn’t working so well and so I have to go take that and get it replaced really quickly.

I want to go ahead and quickly recap. We focused on a couple of key things this morning. The first was the daily charts and using the daily charts. We see here hours later from when I first mentioned this this morning. The DOW continues to hold us down in advance of the FOMC. Of course, all bets are off post-FOMC, but in the meantime it kept these stock index futures from going anywhere this morning.

Another key thing we focused on was crude oil and we were watching that this morning. There were a lot of great lessons that I had contained in there for you this morning on understanding the concept of S2 and R2 as well as normal statistical maximum daily ranges and that. We finally got that trade I was looking for. In fact, I just closed out of that a few minutes ago. That was right down here (on my charts at 1:30) is where I just covered that position. So it took a while to get there. We wanted to wait till we finally came back, showed there was resistance in this area and was pushing back through and then continued down. We didn’t get down as far as I would have liked. I would have liked to see it become a big runner. The problem was with only 5 minutes to go to FOMC I needed to be out of that thing with 10 minutes to spare.

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