Key Market and Strategy Updates For Thursday Evening

I promised you that we have really important information that you want and need. I am going to give that to you. I am going to share that with you next week. Things got a little bit crazy on the east coast. There were hundreds of thousands of people with no power. I was so distracted. I am going to wait till next week to share all these great must-haves that you need. It will give me more time to go through all of that with you. Stay tuned! I provide some great training for you with no sales pitch or nothing.

I want to take a look at a couple things tonight. The 140 level is the new death level on the Bonds. I warned you about breaking below the key 150 level too. That was the key level up there. We broke through that level, popped back up, made it resistance and since that point we have falling resistance coming down like a ton of bricks. The new important level is the 140 level. If we make that resistance, that will likely be just like 150 was. That could see some really ugly moves to the downside. Pay close attention to that! Right now 140 is the important level to beat in my opinion.

Gold is still sucking wind. I talked about this at length for the last couple months. We just couldn’t get through these key distribution bars from back here. At this point, it keeps coming back down into the channel. That is why I warned you up there. I said until we break through the distribution bars, and 160 becomes support, that I would like to stay away from Gold.

72 dollars is the new level to beat on Crude Oil. I want to get through that, pull back, then look for $75 to $80. I have been looking at those levels as long as we stayed above $71. That continues to be the case. This is just the new level to beat in my mind.

You will notice that the DAX is doing a pretty good job of holding up there. The U.S. Stocks have been suffering the last couple days. We have had big distribution bars that have locked in on three out of four of the Stock Indices. Those are keeping us at bay for the time being. The bottom end of that is where the resistance begins. It is a traders’ market until we get above those distribution bars.

We could see support from the RUSSELL. That is always a key thing I like to see. I jumped in on the NASDAQ in the Live Trading Room this morning. I had every beautiful ITP buy signal that we could get. The whole sequence was there. I caught a really nice move as this whooshed to the upside. That is really what I am doing. I am focusing on the intraday trades until we get through this distribution. This is the next key right now. I will be showing you more about that in videos next week.

AAPL is congested this week. It is an inside bar of last week at this point. We are seeing that reflected in some key spaces that I will introduce to you next week.

You will see a theme on a lot of the FANG stocks. They are all consolidated in areas. There are some new areas that I will be looking for. Right now she is steady. Until we can break out above the distribution bars on the key indices, it will be more dominated by the trading environment. You could find those runs on the intraday trades.

I look forward to seeing you in the weekend videos! Also, stay tuned for the special training videos as well.

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