Rob’s Focus Was Crude Oil As It Pushed Today. So What Next?

Welcome back gang! What a great day. It is another great powerful use of my speed lines today. All four of the stock index futures stayed at and below the speed lines. They got right up in to them and then the market kicked them right back off of the speed lines. It precisely touched my slow speed line and on all fours stock index futures today and then got killed back off.

Going into tomorrow what I need to do its definitely going to be about the lows of yesterday and the day before. The lows form the last couple of days versus the breakout of the speed lines. We either get back above todays highs and above those speed lines before we can look for longs or I need to get down below the lows of the last couple of days. Monday through today, I need to get down below those lows. For some it was on Monday and some of it was Tuesday. I need to get below those lows so look for shorts and get above the speed lines into today highs to look for those long side trades going into Thursday. It is just that simple.

Beyond that the real focus today in the Live Trading Room was shorting Crude Oil. That was our soul focus while the stock index future were sitting there dead in the water doing nothing our focus was on Crude Oil. We are going to continue to look at Crude Oil as well as going into tomorrow in these relative lows and these inventory retracement bars lows of recent past so breaking down below those we will continue to look for more shorts. Great stuff and we have a couple of great focuses going into tomorrow.

Thanks again for all of those wonderful donations that you went ahead and sent to us. We are now over $21,000 for St. Jude! You guys are awesome! You all still have two days now if you haven’t already, to do that donation and be a part of that chance to win me at your house. I will be at somebodies house on Monday July 13th, which we will be announcing that winner next Monday July 6th! I am really looking forward to being at one of your houses and hopefully making you the next Tim Erwin who won me the last time and has become very profitable since then. You guys have wonderful evening and let’s hit it hard again tomorrow! We have some great trading to come. Take care everyone.

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