Hey everyone, it’s Robert Roy from WealthBuildersHQ.com. Welcome to another edition of Trade With Rob which is for July 28th, 2021. Hope you having a great day, hope it was a good trading day for you. Markets just closed up. Let’s go ahead and take a look at what happen first in the S&P 500, next were going to look at our candidates for the day, keeping in mind that all the candidates we look at off for educational purposes only.
So the very first thing is S&P 500. What the heck happened? We’re down about 21 points on the day on the SPX. Not a big deal since we’re at all time highs, all time closing high yesterday. We did have decent move today intraday. There were some opportunities for trades. We see that traders or buying every dip. We’ll see how much the announcement of COVID that came out that said that, the CDC said that we should be wearing masks indoors even if were vaccinated. It’s getting crazy, you know it’s the golden cuffs all over again. Just, no freedoms whatso ever. We tell you do. We’lll see that the governors and what the president decides to do, where it all comes up but definitely a weighing factor on the markets today.
So with that being said, let’s go take a look at our candidate for today which is ANTM is the ticker simple.
So we look at ANTM, let me go grab a drawing tool first, I’ll get rid of the crosshairs there. Let’s go get the pen. Nice little V-bottom here, good move up, strong V-top and what transpired, what took place there? Well from there we had this little break out, we came back and retested, we bounced and we failed, so it was a stop out right there. Push back up, we tested, bounced target one, target two, life is a beautiful thing, it worked out extremely well.
We came back, we got a close at the zero line and moved down below, and then we – nothing happened. We pushed back, we got a close above, we tested, we bounced, target 1… oh! Probably missed target 2. If we did, just by little bit, but we’re stopped out/break-even(ish) on the second half of the trade.
And now we’re back at it again. We closed down below, we pushed up above, so tomorrow I would like to see a retest of that 379.13, or at least some pull back towards that level. You’ll make local entry decision on what you find is most important, and then let’s go ahead and set up the stops and the targets that we have for ANTM.
So again, you’ll make the determination on the entry but we’re looking for some kind of pullback towards the 379 and a bounce. We’ve got 390 is our very first target. You’re going to sell half the position there. If you only have one contract you would close the entire trade At that point we would move the stop up to break even or somewhere above over get into the trade, and then target #2 would be at 402.50 for the second exit there. Now you can trade this any way you choose, but there is a training video, and I’ll actually link it down below in the description where you can actually look and watch me show you how to trade this setup.
So with that ladies and gentlemen, make it profitable day so focused on the quest to becoming a great trader, keep crushing it and remember you’re just one trade away.
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If you want to learn how to trade the zero-line breakout, click here.