Rob’s Important Market Strategy Continues To Work Again Today

Welcome back everyone!  Let’s start off talking about the VIX.  The VIX is continuing to prove its value again.  We could not get through Friday’s lows.  That really stalled us out in the long run.  It causes a lot of grief on the Stock Index Futures, especially the ones that need a boost.  We are sitting here near long term resistance.  We closed right at that on the NASDAQ.  We are also sitting under on long term resistance on the RUSSELL as well.  Both of these are critical resistance levels that we need to punch through.  Once we do that, we will have some serious room to run.  Right now there are two markets stalled out, and two markets rallying.  We really need that VIX to shine and break to the down side.  What I am looking for is to have it get down into the 13’s.  At that point we can continue pushing down.  The deeper we can push below the 13.75 area, the Stock Index Futures breakouts could become clear.  We need to watch that going into tomorrow.  I told you guys last week that it would be all about the VIX.  The VIX couldn’t get any forward momentum today.  Because of that stall, we are stuck today.  Let’s continue to watch it going into tomorrow.

Gold is continuing to struggle.  We had the negative divergence and the distribution bars.  We then rallied into those previous distribution bars, only to pull back.  There is no forward momentum and a lot of further distribution above.  It is not really bullish until we can get through those areas.  I would like to get above the recent high in Gold.

Crude Oil really stalled out at the long term resistance.  It was caught in the kill zone.  That is where there is fallen resistance and rising speed lines.  That actually contained us the last two trading sessions.  We are looking for a break out and break down.  That is what we need to look for to get the next big trading idea with Crude Oil.

The bonds are also struggling.  I warned you guys about this specific channel many times.  We couldn’t even get through the distribution bar from Friday.  For a short, we want to get below the recent momentum shift bars.

Apple has been failing the long term resistance area that we haven’t seen since early December.  You can also note that it is the same type of resistance level that we are failing on the RUSSELL currently.  It was the one that we were struggling with for weeks in the NASDAQ as well.  This line is so important to us.  We really want to get through that for any long side trades with Apple.

I would like to invite you guys to a webinar this Wednesday.  It will be at 5 PM Pacific Time, 8 PM Eastern Time.  It will actually be with Steve Bigalow.  Here he will talk about managing gaps and utilizing candlesticks.  As you all know, I use candlesticks.  They play in very well with all my tools and analysis.  It would be great for you guys to join him this Wednesday’s evening.  You can find this in the special update in tonight’s email.  Steve is always entertaining and he also tells some funny jokes.  Either way everyone have a wonderful night.  I will see everyone in the coming days.

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