Rob’s buy and sell strategies for tomorrow

Okay, welcome back, everybody! Let’s go ahead and take a look at what we’re looking at now armed with Monday’s information and the excitement from today. The market closed up really strong, we fired off a bunch ITP signals at the end of the day with throttling and the momentum indicators and the triggers and the acceleration alerts, RTI. Everything kind of fired off there and that led to a massive, massive rally here of over 70 plus points in the S&P to close out the day. So, where does that put us that basically put us right here over by the daily speed lines. So, the plan for tomorrow is as such from a day trading perspective, if we’re going ahead and if we’re above slow speed line I’m going to be focusing on long side trades. If we fall back down below the fast speed line I’m gonna be focusing on short side trades. In this area, right here between those two I’m probably gonna go ahead and stay on the sidelines unless I get a beautiful ITP buy or sell signal once again which in this case would basically be a sell signal likely unless in the overnight trade we started to pull back and then start to resurge again into tomorrow morning which would be fine because I wouldn’t mind it taking a little bit of a pullback breaking the will of anybody looking to go long and then break back above the speed line. So, that’s okay if it chooses to go ahead and do that but the bottom line is to keep an eye on these different levels here that’s what we’re looking for so approximately 299 and below looking for shorts right around the 106 area and above looking for long side trades into tomorrow when we get fresh buy signals. That’s part of the primary focus there.
Right now the only long side trades on a swing trade basis that can be taken are aggressive longs because of the fact that, remember, this area up here around 320 in the SPY is a big fat resistance area. Remember, once we broke down two days below that made it a big fat resistance area. So, we have to understand this whole area now and so until we start getting back above that channel we can’t start breathing easier on the long side so any longs down here are going to be more aggressive in this 308 and above area because the market could even smack all the way back up to there, roll over and potentially die a horrible death again. So, keep that in mind on the swing trade basis – opening it so right now swing trades to be better from a hedging perspective you know or very aggressive long side trades here above 308, all right, or focusing back on the short side below 299.
So, those are the key strategies I’m looking for intraday tomorrow and what I’m focusing on from a swing trading basis there as well. You guys have a phenomenal night and I look forward to seeing you in the live trading room tomorrow morning or we’ll go ahead and see you in upcoming videos. Take care, everyone! Bye-bye! English

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