Look At These Markets Go And How We Did Day Trading!

Welcome back! A day of some unusual activity, from my perspective, in the market. It did a couple of things that were a little bit outside of the norm but it was great to see both the room do that and then follow through into the afternoon. First things first, as we are going ahead and taking a look at the EURO it went ahead and had a nice little pop this morning. I actually was focusing in the Live Trading Room at entering long side orders. I think pretty much every order I entered was on the long side in the EURO this morning.

As we closed up in the EURO we stopped right at the 13700 level. Now I want to get through that level in the overnight sessions and look for long side trades into overnight. Initially, I’ll be focusing on tight stops through there because I don’t want this to roll right back over. We do have a hockey stick sell and that can often lead to pull backs. So, any sort of long side trades will be trailed pretty tightly there.

Analyzing Today And Looking At Day Trading In Gold Tomorrow

Another thing that I did was executing live trades in GC after the pit session closed this morning. I tend to back off on GC after the pit session closes at 12:30PM Central Time. Today we went ahead and pushed through here (on my charts at 1:37) and so I had to focus on long side day trading keeping the open opportunity that we had more room to grow to the upside. As you know, we’ve been sitting here for several days and even this morning we were sitting right down here at this 13200 level. We went ahead and starting popping out of the blue here to the upside. This was giving me long side trading and once we got through that 13220 area, which was an area I told you we were going to be focusing on, then that was even more convincing for me. As we go into the next couple of days in both the overnight session and into the US session each day I am going to be watching GC. Let’s see if we can get some follow through here. Remember, this is the first push through this several day consolidation (on my charts at 2:31). We’ve been sitting here for many days and now we want to see if there is some pent up demand. Certainly you saw, if you watched the intraday chart, you can see just how fast this thing spiked up in the middle of the day. Now we want to see if that enthusiasm be harnessed and pushed through to the upside. We have potentially several hundred more ticks of opportunity. You can bet I am going to be watching that very closely for future day trading.

Rallies In The S&P and the RUSSELL While Day Trading Today

As we look at the stock index futures, I will be taking a look at that going into tomorrow. That is usually the first thing that I’m taking a look at each morning. The NASDAQ continues to rally. We continue to go ahead and rally and we had resistance here throughout the day (on my charts at 3:15), double-dutch resistance as I kept referring to it, in both the S&P and the RUSSELL. These two distribution bars held us even into the end of the day despite the nice little rally we had. We also had the DOW sitting right there at the daily speed lines. Going into tomorrow you can imagine what I want to see. I want to break through that key resistance that we have here on the S&P and the RUSSEL (on my charts at 3:42). I want to see the DOW start to launch off through today’s highs clearing the way for another 100+ tick rally into tomorrow.

Let’s see if we can continue those good time feelings to the upside here a bit longer. Those are the primary things I am going to be focusing on tomorrow for day trading (EURO, GC, and the stock index futures). You all have a great night and I’ll have more for you tomorrow evening. This is a great start this evening. Take care everyone and have a great night!

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