Today’s Range Says There Is A Big Market Move Ahead

Welcome back everyone! This is important information for you guys to see because it will affect my day and swing trading thoughts for the upcoming days.

The situation has remained the same for the past couple hours. We have an inside bar on the NASDAQ, DOW, RUSSELL, and S&P. That means that today’s high is lower than yesterday’s high. It also means today’s low is lower than yesterday’s low. We are still in that condition hours later. This is the tightest day in the NASDAQ in over a month. These are the coiled springs. There are inside bars coiling up.

We are going to be looking to see if we can break out of the previous day’s highs. I also would want to see if we can break down below Friday’s lows. That would be nice because we would be below the speed lines as well. If we break out to the upside we would still have a band of resistance. The RUSSELL has a lot of air up there. It could be very exciting if we could break through the highs from last Thursday and Friday. We don’t care which way it goes, we just want it to get going. This would affect our day and swing trades accordingly. That could lead some very high energy movement. Once people start seeing a freight train going, it could get going very fast.

Those are the keys for the next couple days. We will be focusing on some other things in the days to come. You guys have a great night and I look forward to seeing you all in the Live Trading Room or in tomorrow night’s videos.

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

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