Rob’s Final Market Update Prior To The BOJ and FOMC

Welcome back everyone!  Let’s do something a little different today.  I did an updated IRB class yesterday.  During that, one of the updates that I gave was about how the entire inventory retracement bar wick is a key support or resistance level until broken.  That could be used as a likely reversal point for a market trend.  I actually showed this during the event yesterday.  We had this inventory retracement bar here.  From the bottom of the wick, to the top of the wick, that is just one big fat resistance level.  What ends up happening, we popped right back into that level.  That is an excellent place for the market to stop.  Until it breaks that inventory retracement bar is a huge support or resistance level, this case resistance.  It rolls back down.  In that case it creates a new inventory retracement bar.  If we look from the top to the bottom bar, you will see they are 45% bars.  If you are not familiar with my work you should be!  It spiked right up to the bottom end of that level and then rolled over and died a horrible death.  We had another inventory retracement bar there, and haven’t looked back since.  We kept hitting that band of resistance.  I just shared all that with you in yesterday’s IRB update.

In tonight’s ask Rob section I was asked to look at several different swing trades.  Previously in Herbalife we had one of my inventory retracement bars.  It popped right back up into this zone, then immediately got killed off.  Right after that it made another distribution bar.  It popped into that and got killed off also.  Then it had a huge gap up after that.  Isn’t it interesting that when that gap happened it spiked through the previous inventory retracement bar.  However it also closed right after that big gap back down.  Take a look at what happened!  It ended up just forming another inventory retracement bar.  The market has not been able to break that since then.  Now we have multiple inventory retracement bars again.  If you don’t know what these are, then you need to know them because they are a key piece to my trading competition wins.  You will see all that in this swing trade.

Tomorrow we have the Bank of Japan and FOMC.  Today it was all about capital preservation…well not really.  I made money in the Live Trading Room taking short side trades.  If you recall from last night’s videos, we were watching the 15 level on the VIX.  Break downs below 15, we were going to look for longs.  We ended up hitting the 15 but stayed up above to and through the 16 level.  That meant that today was focused on short side trades.

I will be watching the VIX heading into tomorrow.  All bets are really going to be off because of the Bank of Japan and FOMC.  I will not try to get cute with this.  I will also wait till some of these reports come out.  I might make a trade or two in the morning shortly after the market open.  Usually by around 10 or 11 Central Time the market will quiet down in advance of the FOMC.

If you guys are struggling with your trading go to to sign up for my Live Trading Room to see how I trade, like this morning.  I want you all to grow with me as we head into the rest of the year.  I am having a great year and want to continue with you guys by my side.  Remember that I take these trades right in front of you so you will see exactly what I am doing.  We don’t just show the winners, I’ll show them all.  I will leave you all nothing to be desired.  See why I am different than the other educators.  How many more trading competitions do I have to win before you all join?  Go to to get signed up!

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Rob’s Key Market Update Prior To The BOJ and FOMC

Welcome back everyone!  Thanks again for all of you who sent in great comments and emails to myself and my...