The Stock Index Futures Started With A Whimper And Ended With A Bang Today!

Welcome back gang. Wow, what a day! The stock index futures started off a little slow spittin and sputtering, especially with having a little private group of people we had extra today with us that took a lot of our time. But in the end we got right on the horse and did what we needed to do which was fantastic. As the day went on it just got easier and easier.

As we started off this morning the Euro did get down below the 1.36 level here. Pushed all the way down to the 1.35. It did that just as anticipated during the news and once the news came out we started pushing to the upside. What we actually did was focus a little bit, early this morning, on long side trading. Both I and Ryan took trades this morning. People got to see how we managed it slightly different, slightly different results. But it was great going in and having people see that in action.

Reviewing The Stock Index Futures

As we went ahead and went forward and the dust started to pass from the private client event for the morning we got to get back to what we like to do best here. This is one of the trades we focused on from yesterday. This is great because Ryan spent a lot of time reviewing that trade, well then that exact same set-up set up here again allowing me to go ahead and make up a little bit for this morning being a little bit slower. Great stuff, we went ahead and had a nice push down there into the lunch hour in the stock index futures and then we had a nice little rocket ship back up. In the end, stock index futures went ahead and paid out after all, a little bit better today than they did this morning. Very exciting!

As we go ahead and talk about exciting, this market as a whole was. Clearly just by the sheer number of people that were there this morning at the special event. We went ahead and had an incredible number of people on a percentage basis compared to invites. It’s clear that a lot of people are seeing that we’re going to have one heck of a summer ride here as evidence by this blow-off bar that we ended up having today as well, after several small bars we had a big wide range bar. As we take a look beyond that you’ll notice we got above some daily resistance today. As we take a look at the weekly chart here we got above weekly resistance as well which ‘I told you if we got above that level that would set us off even higher’ and sure enough the decent portion of the afternoon came here once we broke above that key distribution. Fantastic stuff!

I am so excited to have all the new people that joined us today, excited to have all of you that even just watch the free videos. It’s going to be a fun ride this summer, looking forward to having everyone on board here and enjoy the ride with me. Great stuff there.

What Tomorrow Morning Will Hold

As we go into tomorrow now, as you can imagine we’re going to be focusing here on the fact that we are still above the speed lines in the stock index futures but we had a blow-off so we’ll see if tomorrow will be a bit of a pause to refresh for further upside. Regardless, we’re going to be looking at both sides of the fence going into tomorrow morning. We are above the speed lines but we’re far enough away that if some short term shorts come in the morning, like I was teaching in the special event this morning, we’ll get the sell sides, I will look for short term sell sides back to the speed lines but then I’ll back off again until we break back down below the speed lines.

Meanwhile, back at the ranch, let’s also go ahead and take a look at Gold. Gold here also got above that distribution bar we were talking about from the news this morning and had a little push up. What we want to see is if we can get a continuation of a speed line to a 20 trade going on here. We’re going to be looking to see if there’s any sort of by side continuation going into tomorrow’s session.

Those are going to be a couple of the things in particular that we’re going to go ahead and be focusing on. Again, thanks for all of you that joined our student family today, thanks for all of you that came to visit us this morning during the special event. Again, as you can see I’ve been telling you it’s going to be a wild ride this summer and clearly that’s exactly what it’s going to go ahead and be. Pretty exciting times to be a trader and invest. Really more of a trader and options swing trader, this is the time to go ahead and be that. Exciting to have you guys here and let’s have a great summer together! You guys have a great night. We’ll see you in the Live Trading Room tomorrow morning or we’ll see you in tomorrow night’s videos. Take care everyone!

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