Alright everyone, it’s Rob, founder of WealthBuildersHQ.com, and welcome to this edition of Trade With Rob, which is for Friday, June 11, 2021. Hope you’re having a fanastic day. Now, the markets just closed up. Let’s go take a look first at the S&P and see what’s going on with the S&P today.

So, we just shut down minutes ago on the S&P. Let’s go ahead and grab our drawing tools.  Here’s our V-bottom of our Fib, with this nice move up into our 4181 level. We get this amazing fail off of that. We come back and then this line right here is 4181, 4191 is the top of the Fib, and 4200 is another line that we focus on. You can see that we push up over and over and over again on those levels. Now, we’ve since put in this all-time high which has been violated today. We violated our most recent all-time high and all-time closing high today. Our closing price today is 4239.18, and we’ll set another line at 4245.74 which is the high for the day. So, what’s happening? We’re rocking. We’re absolutely rocking. Things are going well, we’re kicking it up, we’re pushing new highs, markets are loving it, we knew we’d break that previous level. Whether we stay here or not is a whole different ball of wax. But the S&P? Strong.

The candidate we want to look at today is CRWD. At this point, we’ll grab our drawing tool and do it all over again.

Here’s our V-bottom of our Fib. Nice move up, sideways, good strong move into the zero-line, which gave us a fairly clean and strong bullish thrusting pattern. We had a pullback to the .236, which usually indicates we have a good Fib where we drew it. And, we had plenty of trade setups along the way of CRWD, but now what’s happened? We’re at a zero-line breakout.

You can see we’ve broken out before, pushed up to the -.136 and failed. We did it again – broke out, -.136, -.272. So basically, this is target 1 and target 2. The last time, it was a head-fake. The time after was a head-fake. Here, we never even got above, the second time we never got above, and today, we closed above.

Now we’re looking at, in an ideal world, the move down with a wick tomorrow, and test that 237.36 level on a bounce. If we do, your target 1 is going to be 238, and target 2 is going to be 250. If we’re wrong and the trade setup goes against us, we’re out at 222. We’ve had quite a few of these that have worked extremely well over the last few weeks, so we’ll see where this one goes.

If we never get the retest – big gap up, big gap down – no trade taken! That’s it. NEXT!

Share this: