The bulls produced new recovery highs last week (again), but as the week wound down, it appeared as though some fatigue may be setting in. Not only did we see bearish engulfing bars  on Wednesday and no new highs after that, but we are also seeing some rest set in with the establishment of short-term trading ranges. Prices are currently sitting just above some key levels, so if we see those get broken, it could bring some profit-taking into the picture.
As we head into a brand new week of trading, let’s examine some important levels in the indexes to keep an eye on in the days ahead. That will have the greatest influence on how individual stocks are going to move, so it’s where the trading week begins.
This clip was also posted over on the Trading Videos  site (as always), and perhaps you’ve seen it there – but in case you didn’t, I wanted to put it here on the blog for you.
Quick Announcement: I just want to remind you to join our free newsletter  list for trading insights by email. If you’ve been on the list in the past, it has changed, and you’ll need to opt in here to receive it going forward .
Let me highly suggest clicking the “HD” on the video player and then going full-screen for best quality.
Thanks for stopping by and I’ll see you here soon with more.
Until then… Trade Like a Bandit!
Are you following me on Twitter  yet?