Last week I shared with you a full length video replay of one of our Trading Club meetings from a couple of months ago. Continuing with the series, we released the following video for you all to access in FULL and for FREE (of course, our premium members saw it first and in real time way back back in November).
Here’s a quick summary of some of my notes from that video analysis recorded 14th November;
- At +2, the Equity Market Checklist had been met with a rally in stocks in the week since we first featured it.
- On the charts, I highlighted potential profit taking around current levels (2700) in the S&P 500, and noted how the technicals (EW 3 and unfilled gaps below) suggested a move lower first to test 2400 / 2460 (the market bottomed a month later around 2350)
- On that potential move lower: “It would be a good 250-300 points lower… this is a line in the sand to watch. If we break the previous low expect there to be considerable downside.”
- “I sold my long position on the 9th, Friday morning’s open. I’m personally now in cash… and don’t have a position in this.”
- “Awaiting technical confirmation of the next move for now.”
- CAD -2.5 1.3235. "Weakness in line with the checklist, you can see it playing out, confirming our Checklist model"
- JPY 0 1.1390. "Not much to be done here, any movement is likely to be in the US dollar, so expect it to remain a range trade" (USDJPY traded 114.00 - 112.50 through month end)
- GOLD 0 12001 No clear bias on the checklist. This is probably a range trade, we said to look to an hourly or 4-hour RSI for overbought and oversold extremes as the opportunities this month.
- You could have bought 1220, sold 1235/40, had reversed and gone short around there, down to the oversold reading around 1208. Back at the psychologically important 1200 level with an oversold hourly RSI, there could look for a potential bounce here. This has been a good range trade this month as anticipated by the Checklist.
- CRUDE -4.5 55.47 "Remember, markets can move further and faster than you believe possible! From $76 to $56 we’ve absolutely nailed it - this has been a phenomenal trade."
- “Despite the rally in equities, volatility remains elevated."
- "Still a time to remain tactical and have cash, so you can trade the next setup. Lots of tactical trades to be had."
- "We’ve adapted to market conditions as they have become more volatile.”
- "Whether markets are calm or volatile, you need to follow your process to stand a chance."
If you aren’t already a member of our Trading Club, then hopefully this gives you a great flavour for what we are all about. Here at the Academy, we bring you the latest analysis of markets in real-time using Lex’s Checklist Trading process to identify high quality setups that others simply don’t. You can join us for immediate access to this week’s video, along with an archive of our 12 most recent recordings and Monthly Checklist Report, at lexvandam.com today.
If you would like more information about becoming a member, or taking our flagship Million Dollar Traders Online Course, drop us a message at [email protected] and our team will take care of the rest for you.
Have a great weekend,
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