Our Trading Plan For Monday After This Great Week

Welcome back. As we are getting ready to close up another fantastic week with Friday’s session, bottom line is going into Monday, I’m initially looking for a little bit of a pause. All of these Stock Index Futures are pretty well over-cooked at this point. Typically after this thrust, pause, thrust type pattern that we are seeing, we end up getting at least a sideways day, if not, a reversal day for a day or so. That being said, I’m not going to be quick to jump on the shorts. What I actually prefer to do is see if we can get any sort of short-term, if not, outright blastoffs to find these sells going into Monday. In other words, if the sells don’t sell, that could be very powerful signals to the upside. But we have a lot of resistance right in the back drop – especially on 3 out of 4 of the Stock Index Futures. Only the Russell is superseding power beyond anything else and that is one of the reasons that we look to the Russell for guidance as a leading indicator for what’s happening with this market in many cases. I’d prefer to look, as long as we stay above the speed lines which are down here right now, I’d like to be focusing on long side trades as the next trading opportunities.

In Crude Oil, I’m looking to break above Wednesday’s high or low – those are my favorite trades. Wednesday’s high would be the best because we do have positive divergence – we’ve made lower lows in price, but higher lows in my indicators. So, I would certainly like to see a break above the 4750 level on the K Contract for Crude Oil. I continue to watch Crude for all the opportunities ahead of us.

Looking at Stocks, I keep getting asked about Apple but I’m not ready to put my money into that yet. With Apple in particular, I really like to see my momentum and core trigger really firing off. You’ll notice that we have neither momentum nor core trigger firing off. Only the fast trigger is firing off and that is not consistent enough considering we are right behind some previous relative highs over here. So, I’m not ready to take a look at Apple yet.

What I’ve been focusing on things with my swing trade alerts that I’ve done in that last several days, is Skyworks. Since I put Skyworks out, this thing has been like fireworks. You’ll notice this thing is plowing to the upside and you’ll also notice my momentum indicator and my core trigger are both firing off very nicely during that time – hence, I put out the alert and it’s been blasting up like a rocket ship for all of you that received my swing trade alerts.

Really great stuff there weather you are a stock or an options trader, you can really benefit from those in addition to all of the great work that we do on an intraday basis. So, Apple is not ready yet as you can see that Apple is kind of a dud for the moment. But if we get back to where we were, then I will certainly be looking. So that is what I will be focusing on and putting out trade alerts on. And of course, Skyworks, everybody should continue to be trailing up that is in it at this time.

I am looking forward to having you in the Live Trading Room Monday morning and/or in the videos Monday evening. Take care everyone.

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