Rob’s Video Replay And The Exciting Summer Of Trading Continues Friday

Welcome back! People have been asking me for a general market update. I’ve been giving a lot of stocks in the nightly videos. Let’s talk about the general market as a whole and how I’m trading it live like I did today.

What we had today was this. We had rising support underneath and falling resistance coming down. We opened up this morning above support but below resistance on at least 3 out of 4 stock indices. That was the S&P, Russell and the Dow. Only the NASDAQ was a little bit tougher. It held support and went slightly above the speedlines but not by much. What happened was my initial focus was when they were all trapped between the resistance was to look for something that had some movement. Here we had crude oil have a nice trend in place. It had room to grow to the downside. What we did was pull out the Champion Setups indicators and saw that we had double sell signals. We were focusing on sell-side trading on crude oil. We did that live in the trading room this morning. The other thing was after crude oil what ended up happening was we looked for other opportunities elsewhere. This is the kind of thing we are additionally looking for with Champion Setups. I talk about this concept when we see it live like today. The hourly charts had a pretty wide girth on the NASDAQ. We were caught between the support and resistance. We had nice room between the two long-term resistance levels. We popped up some Champion Setups buys. There was momentum shift with trend and momentum shift breakout. The market spiked pretty hard. The target on that was to the next resistance level. You have to keep that in mind that the show stops there. We hit that level pretty hard and got smacked down. It made another attempt and got smacked down again.

We want to look for something that has room to grow so keep that in mind. We talked a lot about that in that special class that I did last night. Don’t forget that your opportunity to be a part of that will come to fruition on Monday. You will want to watch that class. It was very special as you guys saw. We were looking at the concept for room to grow. Obviously crude oil had room to grow and that’s why we were doing live trading there. I don’t want to be trapped in that little kill zone. When we finally identified those areas, that is an area where you can strike.

Also, just a reminder, we had that phenomenal two week run where we did multiple videos for you. We didn’t have recordings except last night’s event. We showed you what we were looking at and what we were trading. This replay will come down Monday at noon ET. You will want to look at that now so that you can be part of that special program and be a part of the strategies. You will see the link in the special update section to watch this video. You will not want to miss that.

Have a great weekend. We will look forward to seeing you on Monday in the special class or in the live trading room.

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