Rob’s Thoughts For Friday And Thanksgiving After A Great Month And Year

Welcome back, everybody! The market will be closed shortly. First of all, I want to wish all of you a happy and safe Thanksgiving. Gobble gobble! It’s been a great year with a lot of improvements across the board for many of you. As we settle into the holidays and celebrate times with our family, it’s great to end the year strong. Many of you won’t be trading on Friday, but I wanted to give you some thoughts for those of you who will be to keep you on the right side of the trades.

First things first, with the VIX, I’m going to be looking to see if we can spike above 13 on Friday and head up toward 14. If so, I’m going to be looking for short-side trades. If we start trading below the lows for the last three days and start punching in at that 12 and below area, then I’ll be looking for long-side trades. What we’re looking for on the stock indices is the opposite of what we’re looking for on the VIX.

If you’re looking at trading AAPL or some major company associated with the NASDAQ, you want to have an understanding of the big picture. Usually the rising tide lifts all ships. You want to be with the market if possible.

With the Euro, we’ve continued to break down level after level. All I can say is we continue to look for short-side trades. The currencies tend to trend but with the pre-holiday, abandon any hope for short-side trades if we get above the 106 area. In fact, we could get a nice reversal back up if we get above the 106.50 area. We might see a nice long-side opportunity into falling resistance at which point we’ll be looking for shorts again.

We’ve talked a lot about gold as well. We were looking for sell-offs. People were starting to realize after losing a ton of money. A lot of people bought into gold because of the election and boy, they were long. It’s continued to violate every level that I’ve shared with you as far as inventory retracement bar breakdowns. These on-going breakdown points below the channel. It continues to get worse and worse. One thing I’ll say going into Friday is watch out for those big down bars. Friday we could see a counter-reaction only if we get down below 11.80.

We’ve talked a lot about crude oil. The inventory report didn’t shake things up too much today. We’re sideways there. I don’t want to do much with this. Unless we get above Tuesday’s high, I’m not interested in this. The IRB ended up being today’s high. Below us is key support. We’re in between support and resistance, which can make for a rocky ride.

I’ve been telling you about the Bonds having these major support levels right down below here. We’ve been dipping down here today only to come back up and make an IRB. If we start trading through Wednesday’s highs, we could see a nice reversal coming back up. Until we get back down, I’m not going to be looking at shorting bonds.

With Stock Index Futures, we told you what we’re looking for on the VIX. With the other instruments, it’s really important to note that the Dow was the strongest on Wednesday, followed by the Russell, S&P and the NASDAQ. You have a market that’s all over the board and is sloppy. They’re not going up or down together. What that’s causing is some whiplash back and forth. We’ve been doing a phenomenal job in the live trading room navigating that. Not everybody has been so lucky in the public space. Understand that if the VIX is spiking up through 12, I’m going to want to get through Wednesday’s highs looking for further continuation of long-side trades. Same thing on the NASDAQ. We want to get above Wednesday and Thursday’s highs. We smacked into my magical speedlines today and held them as support. As you can imagine, if we can get down below those speedlines and the VIX can start spiking up to and through 13, that can be wonderful for some sort of retracement. The excuses will come to follow.

We made that phenomenal offer to join us in the live trading room. It couldn’t be a better time. We’ve had multiple trades in the live trading room culminating with one of my students who did some live trading room this morning. Boy, did he rock it. It’s nice to have students trade the market with NASDAQ trades like he did. If you didn’t already join the live trading room, go to If you sign up this week, we’ll give you an extra two weeks in the trading room and that guarantee, but don’t plan on cashing in on that guarantee because we’re doing very well. Go to to sign up right now. If your year wasn’t good, it doesn’t have to continue that way. Come watch what I’m doing and see if what I’m doing makes sense to you. You can see it right before your eyes on the screen in front of you. Have a great night. Happy Thanksgiving!

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