I hope everyone got through the market pullback this week. A lot of action over the last few days. The 60 min time frame played it off like a normal occasion, A picture perfect downward channel formed in the SPX and the appearance of a Lane Divergence got us short and hedging for a move to the downside. It worked great today I took my vxx off and some shorts  still holding some SPXU but as you will see in this video we are once again in that position where we have multiple time frames setting up for a bounce. It is really hard to call a significant bounce here as the sell off seems to be picking up some steam. The decline was very broad based. I do have a level to watch and that's just under us at 1958-1962 zone. You can see on the chart below the convergence of trend lines (X Marks the Spot Trade)

Ideally I would like to see a fast move down to that level then a pretty good rally back up..how far? well lets get the first part taken care of first..

In either case there are some great HPS zones approaching and I am happy to get this out before tomorrow as there could be some great opportunities if we hit those zones.

You can see View the watch list here 

Here is the HPS site with all the active charts

and last but not least This week I put out the first Edition of Monetary Morphine a Daily Financial/Trading News paper focusing on everything that we use to prepare ourselves for the day and week.

On it i have a great Section for FT71 (FutureTrader71 Volume profile zones and explaination

also you will find the calendars for the upcoming economic events and earning calendar too

* The current Kick As Trade of the Week (Best Bet for the HPS list)

* Latest Market Radar Video

* Latest DTRS Educational Video (School of Stock)

* Recap of Mad Money

*Latest updates from Seeking Alpha 

plus many other sections that you will love to review daily.

View Monetary Morphine