Robert-Hoffman's Commentaries
Stock Index and S&P Futures Daily Report
The most recent video athttp://traderplanet.com/Video_Ed/index.php?page=videos§ion=view&vid_id=100338has really been a big hit with many emails, PM's in the chat room and YouTube posts demonstrating how important the topic is! I will continue to encourage you to review it several times to get that "feeling" burned into you're brain when you start to "justify" why the market is acting the way you've determined it "should be going!"
At current levels (713.25 as of 8:15a.m. ET), to go short, I want to see a break of 709 and the 20MA turned down for a move down to the 700 - 701 area. If we break the 700 level I will look for shorts down to the 696 area. From there for a fresh short in need to see the 693 level broken for a move to 685 - 686. More will be posted in the chat room as appropriate.
To start out going long this morning I'll look for a break of 714 looking for a move to 721.50 (Today's PP) keeping in mind some interim resistance near the 716 level which my cause me to begin a scale out process. If we break 721.50 I will then look for scalping trades into the 726 - 727 area. More will be posted in the chat room as appropriate.
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