John Lee Dumas - CFRN Emini Daily News 08/10/17
August 10, 2017 at 5:05 PM (QQQ)(DIA)(SPY)(GLD)(SLV)
S&P 500 Emini Futures - Volatility Is Finally Back!
Last night we posed the question as to whether or not the markets would see a rebound or another down leg after the picture perfect 50% retracement. We drew the lines in the sand and with or without a Bad Korean Actor, you simply needed to recite your lines.
Today's Special Guest - John Lee Dumas
;)
From leading a platoon in Afghanistan at just 23 years old, to law school, to corporate finance, @JohnLeeDumas seems to have finally found his home behind the microphone of one of the most popular Podcasts on the Internet - Entrepreneur on Fire or simply EoFire to his many ardent followers.
In the 60's or 70's it might have been called a Cult, but in today's audio hyped world it's simply called "Building Your Tribe" and it seems no one has done a better job of it than JLD. So popular in fact, he has shared air space with some of the biggest names in today's Entrepreneurial World and was the recent focus of a special article in Forbes Magazine.
If you missed today's Live Show, click above or below. John Lee comes on at the beginning of hour 2. This was a fun diversion from our normal daily programming, don't miss it! We have produced a daily show, 5 days a week since 2005. JLD does 7 shows a week. He's on our heels...
How Low Can the Emini Go?
Great question. In theory it could see zero, but that would require 500 companies going belly up. So for now, we're going to look to the long side while still trading every short opportunity that presents itself. What's our prediction? Come on, you can't trip us up that easy.
Last night we laid out a perfect argument for the daily 50% retracement continuing higher, or giving us another leg to the downside. No need to prophecy, sit back, relax and follow the bouncing ball. Today it bounced lower, much lower and took virtually everything on the street with it other than Gold.
The Trading Solution Is Always In The Chart
The post below this one shows yesterday's (08/09/17) sell-off and perfect 50% retracement. Tonight's S&P 500 Emini Chart shows exactly what that "next leg down" looks like. We've dropped through the lowest Weekly Trading Zone, however based on historical observance, by close of business tomorrow - Friday August 11th, the S&P Emini should be back up to 2439 or higher.
;)
S&P 500 Emini Futures - 08/10/17
Emini Double Bottom or Friday Rally?
2432/2433 does present the opportunity. If it fails to hold, watch 2428/2429 and if the bottom falls out we could even see 2420/2421. Join us in the Live Training Room tomorrow and we'll walk you through the process, step, by step, by step. Remember, as intraday Emini Futures Traders, whether we rally or drop, matters not. As long as we have liquidity like we've seen the past 2 days, the world is our Oyster.
Open House Friday
Join us Friday 08/11/17 @ 9:30am for Live Markets and Live Trading!
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