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Welcome to the AM briefing video presented by, where together we trade better. All right, happy Thursday, the final trading day of the week. So let’s talk about several things.

Number one, in my group yesterday, I had this little yellow sticky thing with me that was there before the market opens. And the number one thing I said yesterday is the risk of short covering is high. What does that mean? That means if you take a short, do not add to a losing trade. Do not add to a losing trade. Do not add to a losing trade. Do not move your stop loss. Do not move your stop loss. Do not move your stop loss. Do not make things worse, because the risk of short covering is high. There is no greater force known to man, let’s hear it, than short covering. And I’m pretty good at helping people know when those conditions really exist. For a little bit here, it looked like they were going to take this thing down, and that’s why I took… I know I took a couple shorts in here. I know I took one here and I took one here, forget exactly, but I took a couple shorts in there, and it just couldn’t get going. And then boy, did they just take it all back. So the strong levels played very well again yesterday, which is really cool.

So, yesterday, our system just watched. Did you walk away from the chart after you had a great trading day? Did you size down going into Power Hour? Did you stop trading the final 30 minutes? In fact, in our group under the trade alerts, it tells you on the final 30 minutes, stop, stop, stop. Road closed, final 30 minutes is high risk. In this week, the final 30 minutes has been stupid. It’s been ridiculous. One of the things, if I’m going to look at the chart this weekend at all, I’m going to go look at previous Easter weeks, because this week has just been horrible in the sense of going nowhere to going somewhere really, really fast. The last two days, that move was down. Well, the previous two days, the move was down, and today or last night, yesterday, whatever, it went straight up.

So, today is the day after a monster move near the all-time high, and it’s the day before a long weekend. It’s the day before a long weekend with multiple news drivers before the market opens, 15 minutes after the market opens, and 30 minutes after the market opens. Now, this morning, I have a fasting lab with my doctor. The odds are I’ll be late, and we’ll do a little Zoom, or if I’m last on the list and the doctor’s slow, and I won’t trade at all because it will not be within my trading window. So, it’s possible today that I will not be on Zoom, and tomorrow is a holiday. And when you are given the gift of a three-day weekend by the market, take it.

Now, remember, just join my group yesterday, so they could dive into boot camp all weekend. That’s different. But if you’ve been trading with me for a while, take the gift of a three-day weekend. Plus, it’s Easter weekend, so take your weekend.

So, what’s happened here overnight? Well, first of all, monster move yesterday, 40 points straight up. We have acceptance up here. That’s what we have. We have acceptance straight across in the tiniest overnight range. My goodness, what is this thing looking like? Let’s go from here, seven points. Wow, it’s usually 20 points. It’s usually 20 points. So, let’s do this. Let’s go to an hourly chart just so we can pull this thing in. And here’s your all-time high up here. You have to know that’s going to be the target. Will they get there? I have no clue. But look at that monster four-hour candle there compared to the other candles. This can come at any time, pushing it up, taking out this high, which equals this high, which equaled… I mean, which took out that high, which took out that high, which took out that high. Where’s the next high? The all-time high. We couldn’t take back this FOMC day, which I’m still surprised about, that it didn’t come take that back. I was hoping it was, because I was going to take an option, a call play, to come up for this. But it didn’t get down far enough to do it.

So, day after a monster move, and I mean a monster move compared to the last five days, the day before the holiday, and you have acceptance up here. So, trade small, treat today like Friday. Friday rules are in place. Do not give your week back. Do not give your week back. Do not give your week back. In fact, today would be a perfect day to take off and be given the gift of a beautiful four-day weekend and come back Sunday night to chart.

Now, Monday, I believe Europe is actually closed. So, Monday is going to be another weird, squirrely day most likely because we’re going to be losing their participation. That’s my understanding. I don’t live in Europe, but I heard that somewhere along the line that on Monday, the European markets will be closed in observance of the holiday.

I hope you had a great day yesterday. Thank you for being a member, and I’ll see you guys hopefully later today. I promise to update you on the trading floor of how my morning is shaping up and if I can be live on Zoom. If I’m too late, I’m just going to take the day off and use it as a four-day weekend. And yeah, all right, I’ll see you later.