Tomorrow’s Strategy After A Great Monday And A Thank You From Rob

Welcome back! Let’s kick off the week with an overview video. We’ll get into more specific instruments as the week goes along. What we walked into this morning was primarily doji stars. We ended up fairly similar. The Dow still has a doji star at the end of the day. It’s a period of indecision. Same thing on the S&P. The Russell was depressed this morning but it came back and had a doji star. The DAX was holding on for dear life. In fact, all of these were holding on for dear life for some key support. That brings us to what the theme of today and tonight was. Basically, what we were looking for was something fast moving in the live trading room. As you know, I like to open and close my positions in the room. Some of these instruments were a little choppy and slow moving.

 

First, let’s talk about what we’re looking for going into the next few days. We’re looking for breaking the lows of today to fire off shorts. Each of these lows coincides with a key area broken down, which could lead to further selling. These are all major support areas. If we can break down below those, we’re looking to see if we can get through Monday’s lows. At the same time, if we can get above Monday’s highs, that gets us back above support on the S&P, the Russell and the Dow. We still are having a little bit of trouble on the NASDAQ. It’s got more work to do. Right when it gets above its highs, it’s going to hit some more resistance. I’d like to get about the 5735 area for the NASDAQ. But getting back above the highs on the DAX will give us some room as well. If you’re actually following along with the size and distances, these are high ranges. The 12400 area is 75 points at 25 Euros a point, that adds up pretty fast. These key resistance areas will be a focal point for longs or shorts going into tomorrow and could lead to more swing trading longs and shorts as well, which we’ll discuss as the week goes along.

 

We needed something that was going to pick up in intensity with all these doji stars so we looked at the DAX. We fired off a cloud breakout buy and also a hedge fund buy so after we got that double buy, we fired off a green bar that took off to the upside. Our focal point was looking at the longs until we hit our two normal statistical daily range then we had to look for a pull back. We got a pullback into rising support. It was the same support that I teach you about in these various classes that I do for you guys. Because we still had the trends firing green, we went long live in front of people in the live trading room. It went and popped up. The key is these strategies are helping even in tough times when the market is struggling with these doji stars in the bigger picture period of indecision. Breaking it down into smaller time frames still offers up some really nice opportunities where we spent almost two hours where we trained people. Thank you again to all of you who took advantage of these opportunities, sending in questions and participating in these events.

 

Right now the moral of the story, based on where these markets are, we have some key breakout/breakdown levels and in the meantime, we’ll get into those smaller timeframes on the intraday basis. TESLA and AMZN had some nice test plays, which we’ll talk about in the coming days but we’ve had a lot of focus on that in the trading room and in swing trading videos. We’ll keep pushing and watching those key support levels.

 

I’ll see you tomorrow in the live trading room or in the nightly videos. Have a great night!

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