Tuesday Day Before FOMC AM Brifing

 

https://youtu.be/BalufeVvHd8?si=LuunNcipy-nqZ6xe

Transcript: 

“Welcome to the AM Briefing video presented by microstrader.com, where together we trade better. All right, good morning, happy Tuesday, the day before the granddaddy of all news events, FOMC. So, I wanted to start here. This is the screen that has my indices on them, and I haven’t changed these lines yet. These are still Friday’s lines: the low, the halfback, and the high. And, um, I just thought it was interesting. We’re so Russell is under, and the other guys are basically at the halfback of Friday. So, we’re just in this huge consolidation type of range, ready to break out and do something big, most likely make new highs. That’s the trend that we’ve been on for a long time, most likely make new highs. Although we were lading down most of the day yesterday, we never got back into yesterday’s range. Let me go back here. So, this was yesterday’s session. We never got back into Friday’s range. Okay, we gapped up, we stayed up there. So, even though we were lading down, I was telling the group, said, ‘Just realize the Bulls are still in control.’ Um, as my members can tell, in this move, there was no backside development to the South. Um, when you are in a strong uptrend, which we are, and you’re getting no backside development, you have to be careful for the shorts running for the door and there’s a big squeeze up. I did have two magnets when we started the day up here for us to fill these single prints and take this RTH High. I’m had a strong level here, and in fact, for the strong levels, this first one, if you dropped to 1 minute, it only played a little bit here and then it fair value gapped through. That was the first sign that this move is strong, the Bulls are firmly in control. And then, back and forth through here, retest here, retest, retest, you can tell that this was a really nice level. Coming back to the top here, same thing for this strong range. Where did we go? We went back to the top of the strong range and just tap danced on it all night long, tap danced through those strong ranges all night long. And then, when we finally lost the strong range, a really good move South. I have other strong ranges below here that are for my members. Um, so, we’ll pay attention to those today. So, what have we done overnight? London’s done what London usually does. It took out Asia’s high and low, failed to get to the half back on this up move here, which is interesting. Um, but minor news event an hour before the market opens, and then tomorrow is really the granddaddy of all days. Um, who knows what’s going to happen today? We’ll trade the levels as they’re presented to us. I only did one trade yesterday. I took the short off this strong level here, stayed in through this mess, and got took off most of the contracts. I took off half of them here, and then the other half somewhere in here. So, I only did one trade yesterday, um, it was a short, short based off that strong level, and now we’re going to see what’s going to happen. All right, we’ll be on Zoom here soon.”