Rob’s Market Thoughts And How He Is Trading Ahead Of Apple’s Earnings

Welcome back gang! Well a couple things I want to go ahead and share with you in this video. First off let’s talk about Apple. I told you last week that Apple is really in a critical point. I told you at the end of the week that the first thing that we need to see is this pop up here and reach back right for the stars because of the accumulation bar and go back for that main back support level at 166. We did actually hit that level for part of the day and you can see that it is still trying to hold on for dear life.  A lot of things are right at the edge but none of this really does not matter going into tomorrow. I see heavy signs of accumulation and distribution on this particular chart in advance of tomorrow night’s earning. The best thing is to stay clear of this until the earnings report and then look for some great trades going into Wednesday morning which we will talk about momentarily.

One thing I want to point out first is the methodology that I use is very consistent with what I have been showing you in the past.  Now first of all, we are in earning season so you will notice that I am focusing a lot more on the short-term trading. It keeps me on a profitable side and has been working very well. What I want you to notice though is what happened earlier today. So, early in this morning we had a situation where the NASDAQ was okay but it was in some key resistance. The Dow went ahead and was into some key resistance, the Russel was into some key resistance, and the S&P was in some key resistance. Now the problem was we had a situation where the NASDAQ was trying to go up a little bit but the Dow went up a lot. I do not trust this. I know McDonald’s reported great earnings but I said I do not trust this because the Russel is not going with this. In fact, the Russel started to deteriorate which was a big deal. I do not do much with trading the Russel these days. They switched exchanges, and the tick value and stuff like that. The NASDAQ is a much better choice for a lot of retail traders on the futures side and of course the NASADAQ stocks are phenomenal. I love to trade the stocks and the futures. As we take a look armed with that information, what I noticed then is that we were actually getting worse on the Russel while the Dow was going up. I issued a trade alert this morning about that. Look how this ended up. We went from bad to really bad on the Russel. We ended up at the low of the day.  The Russel went ahead and for most of the morning stayed down and actually started to go red. Well that is what led then to these phenomenal opportunities and the trades. I focused trading on the sell side in the live trading room so if you are trading stocks proper tech stocks or futures the way to go was short this morning.  Look you can’t hardly look at my chart and not find a gorgeous sell signal.  There are half spikes and full spikes for those of you who were at my Wealth365 event where I was teaching some of those different things. On my Institutional Trader Pack of indicators which is the best of the best it was firing off sell signal after sell signal the entire time. So obviously we were focusing on executing short side trades in the live trading groom this morning. But it all started with the Russel being a lot weaker than the other stock indices. So, well they were still a little greener in the Dows case very green, the Russel just kept creeping down so I issued that great trade alert there for 1552 ½ on the Russell and then down the hatch it went there. So, a couple things to keep in mind Apple earnings are tomorrow afternoon so going into tomorrow session I either will be looking to trade Apple stock at proper for a day trade intraday and closing out my position before the earnings hit or trading the NASDAQ futures and seeing if they want to continue this route going into tomorrow. There is a lot of room going to the downside and since we closed off those highs today in the Apple it didn’t quite hold on to that 166 level. If it wants to roll over I am more than wiling to short it there.  If it wants to have a pre-earning surprise rally I will be happy to look for a long side as well.

So, the bottom line is between now and tomorrow evening focusing on intraday trades and going into Wednesday morning there probably will be some really good trading opportunities as well.

Don’t forget I have that special trading program on Wednesday morning and will be trading live right in front of you. Make sure you fill out the registration form at the end of the video. This is something that you will not want to miss out on! I look forward to seeing you on Wednesday morning for that special trading session. I will see you all tomorrow morning in the live trading room and have a great night!

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The Stock Market Is Still Holding The Critical Line Of Accumulation. So What Next?

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