Updates And Follow-Through From Last Night’s Video And More Strategies Rob Is Using Right Now

Welcome back everyone!  Well with less than an hour to go in the market, we are still challenged by the same levels that I shared with you in last night’s video.  I mentioned the distribution bar over here from a few days ago on multiple indices.  You see that we are still having havoc played in that area on the S&P an DOW.  We just can’t break into those levels.  We tried to break through that level on the RUSSELL.  It was too much and sucked it back down into the distribution.  It was the same thing with the NASDAQ 

I was able to fire off multiple long side trades this morning.  It did not have follow through to the upside for continuations because of the key levels that I told you about.  

The same distribution levels will be in play.  The top end of the resistance bars is important too.   I want to see the market start to break through those areas.  The NASDAQ is already well ahead.  It was the strongest.  I want some of the laggers to show some strength this morning.  That is what got us focused on the long side trades.  I want you guys to focus on the multi time frame analysis.   

The 2, 5, and 15 were all firing off sell signals.  There was M pattern sell here.  There was a sloppy M pattern sell here.  There was a hockey stick sell over here.  All three of these were generating sells at the same time.  That dropped us right here.  That doesn’t look like much, especially when you consider that it went right back up.  We had buy signals on multiple time frames after the drop.  This distance down to there was approximately 14 points.  The average stop loss for a retail trader in the NASDAQ is around 12-20 ticks.  20 ticks are just 5 points.  That is essentially a range of 3-5 points.  This went back around 14 points.  That is basically 2.5x the normal retail trader stop loss.  That is a huge deal!  That is the normal maximum retail trader stop loss.  That doesn’t account for the people will tighter stop loss.  That is a big move when you start to think about it like that.   

I pointed out the same phenomenon again.  I said that we have a fish hook sell, M pattern sell here, a Hoffman fade there, and eventually locked in another M pattern sell.  We ended up having the multiple time frames locked in there.  It went right down the hatch again!  That was well over 10 points.  Again, that was over 2 plus times the normal maximum trader’s stop loss.   

When you start seeing sell signals on multiple time frames, that is a great indication of a place you might want to step aside from.  You are statistically fighting the grain.  That is why it is so important to learn these signals.  Then you can identify when multiple time frames are saying the same message. 

The same thing applied when we are talking about daily and weekly charts.  That could increase the probability of success.  You guys have a phenomenal night! 

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