Rob Updates You On Stocks And Other Markets Tonight

Welcome back everyone!  I wanted to get this video out while I still can.  Let’s talk about the Stock Indices first.

I have been looking for long side trades on the Stock Index Futures, as long as we remain above the speed lines.  Even with that early sell down, we held the speed lines.  We also bounced right back up around the highs of the day.  That strategy continues to work very well.

Tesla was featured in my swing trading video tonight.  I wanted to see us pull back, then break through that area.  We did that with double buy signals today.  We had my momentum shift and momentum shift break out trades.  Both of those fired off leading to very good moves thereafter.

I told you that 130 was going to be the key resistance level to break.  We also said how we had the distribution here.  We really needed to break through that resistance.  We ended up doing that, pulled back to the speed lines, and took off.  At this point I consider 130 to be a support level.  Now this is more of an investment buy down towards the 130 level.  Apple is looking pretty strong at this time.

We have been telling you that the financials on this, versus world news, don’t add up.  We are seeing a lot of forces back and forth.  The median is around the 53.50 area.  That is the blue line that I have been telling you about.  I am looking for longs above the blue line and shorts below.  You can see we are really tightening up on this as we speak.  The 53.50 area is a key area that I am going to continue to play.  This is more of a day trade scenario right now.  We can get to the swing trades once it decided to break up or break down.  We are due for a major move in my mind because things just don’t add up right now.  Currently there is an Iranian situation that could finally get this thing moving to the upside.  That could be a very powerful move.  We are going to continue to watch that very closely.

The Bonds are a fan favorite of mine right now.  The 150 level is the level to beat.  This will become important on a day and swing trading basis.  I was doing day trade shorts on this earlier.  I wanted to see us break down and roll back over.  We are still looking to see if we can break through that 150 level.  We want to make that a resistance level. That could bode well for some heavy selling.

I would like to see if we can push Gold down right now as well.  I like to see them all under pressure.  We do have a negative divergence here.  That has been helping the cause from a pressure perspective.  I want to see more of that going into tomorrow.  If we start getting above the 117.50 area, I will be concerned and looking for longs on GLD and Bonds.

Those are the key things that I wanted to get you updates on.  The general strategy on the Stock Index Futures continues to be the right side of the trade.  If you missed any of the videos go back and get caught up on some of the things you don’t want to miss.  I will see you in the trading room tomorrow morning!

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Welcome back! I’ve been telling you to watch the stock indices. As long as we stay above the daily speedlines...

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