Join Rob For A Special Live Trading Event Next Wednesday!

Okay gang! Welcome back to this fun and exciting 2014!  As we go ahead and we look at the weekend videos here let’s just take a look at a few things we’re looking at going into next week.  A lot of this analysis I’ve been giving you in all the other videos earlier this week really describe what’s going on so let’s just give you a couple of updates.

The 1.39 level is what I’m watching for the Euro to see if we can actually get back and touch that 1.40 level we’ve been talking about.  Gold here, gold went ahead and was reluctant to get anywhere today but we were certain to keep an eye on it.  As we went ahead and looked at this we told you we wanted to get above this distribution bar set from Thursday.  Friday’s session just couldn’t go ahead and do it so going into next week we want to see now, can we get above that distribution there?  That could lead to some powerful rallies to the upside, so we’ll be watching for that.  As far as Bonds, the thirty year bond remember now, we’ve attempted to break through this area several times in the last few months.  And what happens is every attempt continues to get killed off.  Here we are though testing this again, I have a theory of course which I call Skipping Rock Theory.  We keep tapping these different levels here, so what I’m looking for now is to see if we can actually stop above this support level and actually start to take back off and push above.  If we do that we’re more likely to see higher prices in the Bonds and the next major resistance above is the 136 28/32 level.  We’re going to be keeping an eye on that level. 

Now, the next thing I want to do is look at LinkedIn here.  LinkedIn is a real nice classic case of how we use our work.   We can see sell after sell after sell. The last couple weeks we’ve shifted from a lot of focus in the market on puts, put spreads things of that nature to more calls, call spread discussions, so on and so forth.  Actually, from a volatility perspective we’ve now closed out all of our options positions with the exception of one that we have out here closed out UVXY the other day with this great volatility move.  Just a fantastic, fantastic, fantastic options portfolio! And if you haven’t heard about it or seen it yet you are incredibly missing out on something exciting here.

As we go ahead and take a look you’ll notice time and time again these last couple of weeks you’ll notice every time we get a sell signal, whether it’s a stochastic spike or a hockey stick sell or we get a stochastic spike and then an M pattern sell with a fish hook here or just a classic stochastic spike.  You name it, it’s going ahead and selling here over and over and over again.  Then my momentum shift with trend bars are working, my momentum shift break down ones are going ahead and working fantastic as well with really nice drops after breaking down through the momentum shift bars and again these are also accumulation bars so they’re basically a double sell signal there.  So everything is firing off on all cylinders the way that it should.  Our work continues to go ahead do fantastically in this 2014 environment and we’re just going to go ahead and milk it for all it’s worth this year!  That being said let’s take a look at the stock index futures real quick and get an update on where they’re at.

These markets have gone ahead and continued to drive down. Remember a key thing, I’ve had some people approach me like, Rob I think you’re overdue a little bit on this downside discussion.  But I have to point out to you, that like I said this is something new we haven’t seen for a very long time as I tried to share and that’s why I always try to give you the most accurate information possible and we saw here the weekly chart of the Russell going ahead and giving this negative divergence.  You can see that’s been all through 2013 gang.  We set higher and higher highs on my core trigger.  Well, then you see we finally made lower highs here and guess what, we’re getting a pretty healthy cut to the downside.  I gave that information I believe in Tuesday night’s video, go back that’s where we talked about that extensively as well.  Go back and watch that video. 

As we go into next week here, the plan is going to be the same as it is each and every day now.  We’re under water deeply.  We’re below the speed lines here, we’re more sell side.  Yes, we expect dead cat bounces, those will happen but more frankly I will be taking a more aggressive posture on sell side trades.  Right now you can see the S&P has a lot of movement opportunity to the down side still.  Right now we’re at a 200 day moving average support on the Russell.  Long term resistance here support to price, if we break down through there Look Out Below!  It’s a free for all.  So Russell is showing a lot of weakness here and many other instruments still got plenty that they can travel to the down side as well.  As we’ve seen the last couple of days we told you back earlier in the week, any sort of pop up rallies would be shorting opportunities.  At this time it’s going to have to be that way.  Since the sells are selling as we kind of showed you with LinkedIn and that.  The buys are being short lived at this point, okay? 

I also want to let you guys know about one more thing: If you go to the front of the website here you guys have an opportunity to join me for a Live Trading Event here next Wednesday.  On the average most days have been averaging 2-5 trades per day so let’s see if we can go ahead and make a fun event of it here this coming Wednesday.  I did it as a private event for some people that came to a webinar a week and a half ago and we ended up doing four trades that day so let’s see if we can have some fun during this even as well.  It’s going to be Wednesday, April 16.  We’ll see if we can have a lot of fun there together.  Just go ahead and go to the front of my website, Becomeabettertrader.com and click on this right here and then you’ll fill in the information to join us for that special event.  The new website probably won’t be up at this point until Monday or Tuesday so you should be able to go here this weekend and click that link. 

You guys have a great night, a great weekend!  We’ll see you in the Live Trading Room Monday morning or we’ll see you here in Monday night’s videos.  Have a fantastic weekend everybody, take care!

Leave a comment!
Read previous post:
New Website Update And Wow Was That A Fun Day Of Trading!

Hey everyone welcome back, Rob back here with you!  What a day, another great day here as we go ahead...

Close