Take a look at why this market is setting up for another great profit opportunity! Stay alert and keep in mind tonights thoughts as you go into tomorrow! Thisvideo series is geared towards Investors, Swing Traders, and ultimately Day Traders who want to be armed with key observations for the upcoming major market move that will be happening shortly! Remember: You will consistently hear me reference previous videos during my nightly presentation. That’s because each new video builds upon the last as we demonstrate real world trading and investment analysis. Take the time to review all of our videos to expand your market awareness! You’re welcome to subscribe to our videos to keep up to date on the latest market analysis and techniques. Over 700+ of your fellow traders have done just that. If you want to be armed with the same education as them, subscribe. Don’t worry, we in no way shape or form, spam our subscribers. You become like family to us! Important disclaimer and reminder for all Traders and Investors! These videos are for educational purposes only. Equities, Futures, Options, and Currency Trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Absolutely do not trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell equities, futures or options. No representation is being made that any …
Hey SnP
Great video, again thanks for all your effort & time that you put in for us
Can’t wait for tonights video and your take on that 30 min, 20+ point spike.
Regards
Kevin
Hey again Russ!,
If that’s what was being referred to then I missed it with one on on this chat and one on the charts. I do use 15 min certainly, not 10’s as my primary chart each night. Now Russ, that would be two solid downs through support as part of that criteria. Which is what I was just referring to in my last response to you about why 1230 was not broken!
Regards and good trading!,
SnP
Hey Russ!
No we did not as of yet. Remember, both of those bars below 1230 closed more than 50% above there lows setting up the short-term reversal. I’m demonstrated that in past videos. So there was no confirmation break of 1230. I’ll show it in tonights video again as well!
Regards and good trading!,
SnP
SnP,
Did we have a definitive break of the 1230? I thought we did or am i still not getting something… 2 bars down…
Thanks,
Russ
SnP,
I believe what he might be refering to is your 15 minute chart that you have reffered to in looking for the trade. It was my understanding that you look for 2 solid ups through a support with increasing volume to determine whether to go in or not. Is that right?
Hi there Monster!,
You’ve answered your own question based on the rules set forth in my videos for higher probability trades! No confirmation, no trade my friend! Absolutely DO NOT over trade out of boredom or because someones pushing you my friend!
Regards and good trading!,
SnP
Regards
Hi Frank!,
You really need to make sure you’ve caught up on my past videos and the comments posted to them just to make sure you don’t miss things like that! I use Tick, 1 min, 5 min, 15 min, 30 min, 60 min, Daily, Weekly, and Monthly as the primary sources of my decisions. I absolutely use the entire range of the candlestick in my decision process!
Regards and good trading!,
SnP
HI SnP500, it looks like that market is trying to hold at 1230ish level. Is it a setup for a rally this afternoon? None the less, there is no confirmation that buyer wants to buying or seller continues selling.
Hi SnP
Thanks again for your hard work. I have a question about the are candlestick bars you use, I believe you use 10 minute bars. So when you analyze the bars, do you look at the open at time=0 minute, and close at time=10 minute, or do you consider the entire trading range within that timeframe to determine what your bar looks like?
thanks again
Frank
Hi ATC!,
Great question! Go back and look at the 4:45 mark in the video…. We need to get below the 1230 level for me to look for that 10+ point drop I’ll be looking for.
That 1230 – 1235 area is a band of support today which is why I drew it as such with the circles! The next support to the downside will then be at the 1228 level but I’m thinking that will likely not be enough to hold for too long if it gets to that point!
Regards and good trading!,
SnP
so ref your last night video , now that we broke the 1235 support we free fall?
Option experation is next week and it tends to be pos, when week before is neg, your thoughts?
thxs in advance
Hi Frank!,
Listen, we’ve gone down over 20+ points and below (1233.75 as of this writing) the level you mentioned at one point. I feel the sells have been selling right down to the current support level I identified last night.
Regards and good trading!,
SnP
Hi SnP
We’re having really pitiful news this morning with oil, Fanny Mae etc… if we don’t break down past 1235 on the s&p 500, could we assume that this is an instance of a sell not selling? Because based on the news, I think we should break down way past 1235…
thanks again for your hard work
Frank
Hi there Stephen!,
Just keep in mind, a buy that doesn’t buy of that magnitude is a huge sell signal as well! Hence, either way, my continued comments on how great our upcoming trading in July and August will be! 🙂 As for your question, I have several charts. On those charts, some are SMA only, some are EMA only, and other charts, they have both. All of that is just based on my experience!
Regards and good trading!,
SnP
Hey there MV!,
See my comments to Lazer!
Regards and good trading and I’m going to enjoy that ice cream today!
Regards and good trading as always!,
SnP
Hi Lazer!,
That’s very close to how I’m playing it! Remember, my bias is automatically to the downside each day as we’re in this bear market at the current levels. However, there are the buy side divergences and reversal patterns that are out there so if I see the sells stop selling, then I’ll be quick to capitalize on the Bear Market Rally as I have in the past few weeks. Until then, it goes to the Bears and I’ll trade accordingly!
Regards and good trading!,
SnP
Hey SnP do you use simple lags or exponential on your charts?
The longer this divergence goes on for (and it could be a long time) the larger the rally could be.
I read short interest is higher than any time since ’92.
There are a lot of people who will need to cover when the time comes.
Untill then the path of least resistance seems down.
Stephen
Hi there RM!,
You’re very welcome and I’m very glad to hear this! The first thing I want to do is get people to stop losing money which is usually what’s happening when they come to me, especially if they’ve been trading with the “gurus” and their big stops.
After that’s under control, the next thing we want to do is focus on accelerating the profitability. You are on the right track and I’m glad you’re here learning!
Regards and good trading!,
SnP
Hey there Norm!,
You’re very welcome and I’m glad I could do that for you! Just keep in mind, that two bar break and pullback trade I show here is just a far more conservative trade.
I use numerous initial entry, scale in techniques that are just too advanced for here. For newer traders or traders who are struggling, I would think they would want to look at those more convervative entries and see if it fits their Risk Trading Plan!
Regards and good trading as always Norm!,
SnP
Hey there Jaephu!,
Thank you for that nice compliment! However, based on my chats with you, I think you have what it takes, just make sure you catch up on all of those past videos and we’ll talk more shortly!
Regards and good trading to you as always!,
SnP
Hey there Mista!,
Thank you for the compliment, your thoughts, and letting me know that you like Chinese food as well, but that it may skew your bias! 🙂
Regards and good trading!
SnP
Hey there Steve!,
I certainly love getting to mention them to you as well! 🙂
Regards and good trading as always!,
SnP
Same here – I sit on my hands a lot more too (including when profits start rolling in).
I’ve never felt like I could understand the market this way until this…actually, i trade stocks right now. I just use the S&P as a reference. I hope to trade futures soon, I just want to be more consistent first…
this has to be a suck in?… they are going to suck the buyers up and slam them with a sell off … first come first serve ice cream
So would you play on the side of the bears if there is in fact an overnight crude futures jump… and vice-versa if there is a drop? I have heard in the past that friday is traditionally a sell-off day for day and swing traders. I have noticed just as others have that our market seems to be almost inverse to the price in crude, so I was asking this in your opinion since there seems to be flat trading this week and friday is of course tomorrow. Is there credence to the friday sell-off?