The Three Things To Watch For In The Market Right Now

Welcome back! Let’s take a look at a few thing. We’re watching that 26,000-27,000 level so closely on the Dow futures. It’s a very important time and area on this market. There’s three key things I want you to watch. Number one is that level. I really want to get above 27,000, make that support and take back off. The next thing is Goldman Sachs. One thing that I’m watching very closely is how we’re reacting. Once we break this channel, it becomes resistance and has been for a couple months. We’re trying to push above. We closed below it and at the channel. We’re not as of yet making it a support level. The other part of this is the Trader Rescue Package midpoint. It led to a really nice selloff and led to that double resistance level. We want to see if that can get uplifted as well. Some of the markets we had here like the Russell. They came back and made distribution bars. So did the Russell and so did the Dax.

The final thing we want to watch is the situation with Iran. We had a market that generally speaking is climbing a wall of worry. At the same time, it’s at risk here given the Goldman Sachs situation with shooting down the U.S. drone. Clearly, that could lead to some really bad things really fast. Hopefully everyone will be measured in their responses but this can have a direct impact on your portfolio especially when we’re at critical resistance levels.

The three things to watch are: The Dow futures, Goldman Sachs at this channel at 195 and this situation with Iran. We’ll be watching all these closely in the next few days. The beauty with being a trader is in my class today, I taught some strategies and showed you how I won my trading competitions in Italy. I identified one of those trades that happened. We just fired off a sell signal and broke down below one of those strategies that I shared. It was exciting to teach a concept and see students I’ve never met before to identify the strategy. If you missed this class, do not miss Saturday’s class at 7 a.m. PT/9 a.m. CT/10a.m. ET. It will be the last time I’ll be sharing those strategies before the Wealth365 Summit where myself, Tom Sosnoff and other market figures will be teaching you strategies. So don’t miss part one then join me for part two at the biggest Wealth365 Summit in July.

Get yourself signed up by going to www.becomeabettertrader.com/go and i’m going to teach those special strategies one more time on Saturday morning. I’ll show you the exact charts that I showed you with those strategies. It happened on the screen and was really exciting to see students identifying it live. I’ll see you Saturday morning at the special event!

Leave a comment!
Read previous post:
Strategy Session With Rob: Here’s What You Need To Know For Tomorrow

Welcome back! I was really going to use this as an opportunity now that I’m back here in the U.S....

Close