Rob Discusses Movements in His Day Trading Markets

For My Swing Traders

Okay gang, welcome back. I want to share some important information in my opinion about AAPL. What we’re actually going to do though because there’s so much else to talk about in regards to day trading we’ll see if we can get that out for you in tomorrow night’s videos. For all of you that are swing traders I did put that in my nightly swing trading video tonight to make sure you had access to a more comprehensive piece of information on AAPL anyways.

The Euro

As we take a look at couple of key instruments, Euro. Euro came down through the 1.33 80 that I was looking for this morning but it did it during the news release so I did not take that trade breaking through those key support levels or resistance levels through the news release, they often retrace back too much. This was a case in point.

What I’m going to want to do now is see if I can get below this inventory retracement bar here, IRB. Then I’ll be looking for fresh shorts in the Euro.

As we look at Gold, it is stuck in the gobbily gook range there still so nothing new on Gold as of today.

Crude Oil

Crude Oil however, is looking real good. Crude Oil is just a hop, skip and a jump away from some key breakdown areas here and I’ll be looking for some shorts. Especially if we get down below that 98 80 area because that could lead to a nice move all the way back potentially to the 95. Whenever we get down in that area below that 100 start looking for that 95 target again as many of you have heard me talk about for years. How that plays ping pong back and forth in there.

The Yen

As it relates to the Yen, the Yen here was interesting. I wanted to point this out today because this is the widest move we’ve seen that’s actually stuck as you can see for months. Sure we get some wide range bars off the news and stuff like that but they never stick, they ultimately become inventory retracement bars. This bar actually got down and stayed down today. I will be monitoring that, it’s pretty much the widest range bar since all the way back here in April. I’m going to see if we can get some sort of forward momentum, that’s going to create opportunities here in the Yen going forward.

The British Pound

The British Pound is holding on for dear life, it’s a key long term rising support. Want to see if we can break down below that 169 area and see if that can make a move back towards the 167 area approximately. Going to be watching that key support there as well.

Bonds

Then of course, how could we go on without mentioning the Bond. I’ve been telling you guys over and over again about this issue that we had this reversal in the backdrop here and that’s why even though people were asking me about jumping in this thing taking a long side trade, I kept saying over and over and over again gang ‘not until such time as we get back above this key resistance in the backdrop.’ As you can see we held that pretty flawlessly and the thing just came off like a stone, it’s so important that you learn from all this information that I share with you.

It’s great like in the Live Trading Room this morning, you get to see me trade live. I did multiple trades in the room there this morning but it’s important what we share in these videos as well. I try to give a lot of great information in the Free Videos and even more so obviously in the Day Trading and Swing Trading Videos. Make sure you’re staying on top of what we’re talking about here because there’s a lot of great stuff to learn from these all important areas.

Stock Index Futures Talk

As we go ahead and wrap up tonight, as you can imagine all about Stock Index Futures. I’ve been warning you about the distribution bars that we’re seeing on some of these daily charts. Such as yesterday here we had a distribution bar on the NASDAQ, the distribution on the DOW, we went ahead and also had one on the Russell and then of course the S&P. Sure enough after the distribution today we saw the markets definitely under pressure for parts of the day leading to some great trading opportunities this morning.

As we go into tomorrow now I’m going to be watching these key supports again, you can see we’re holding on for dear life. If the NASDAQ can get a little bit lower it has some decent room to grow. The DOW if we can get down below today’s low we have some nice room to grow there and much more, we can go from there. Same thing of course with the Russell, been watching these areas the last couple of days that were so important to us. All of these here have lots of opportunity for much deeper corrections if we can break down below a couple of these key supports so we’re kind of on a watch here. Getting to those areas you can see we’re stuck in some gobbily gook and kill zones here and here. Starting to get into them on the S&P as well, not quite as much on the NASDAQ. That’s the odd ball out, but these other three are already getting in there. I’m looking for breakouts and breakdowns from these congestion bands that could lead to some significantly wide range moves.

A lot of great stuff here, whether it’s the markets themselves or the stock index futures themselves or it’s the bonds and all these other great instruments that are starting to move and have all new opportunities. Great stuff, you don’t want to miss a lick of it. Join me in the Live Trading Room each and every morning or make sure you watch in the premium day trading and swing trading videos here in addition to this update here each evening. Great stuff, have a great night gang, we’ll see you in the morning or we’ll see you tomorrow night. Take care everyone.

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