 Folks, good morning and welcome to Swing Trading today. This is Bob Desmond and it is 512 in the AM Eastern Standard Time. We can now be heard not only just on YouTube where you get the video version as well, but we can also be heard on a podcast version on Google Play and on Apple iTunes. We're trying to get on a couple of other platforms as well. So more to come as they evolve. We have applications in and if it works, it works. We'll continue. If not, then we'll just always stick with the YouTube format. So let's begin the pre-market activity off with a review of the chart of Lightsweet Crude. We spoke about this last night briefly on MarketRap that Lightsweet Crude, they had reported a build in crude inventories. The initial knee jerk reaction by traders was to sell oil. We wake up this morning. We're up over 1%. This is a huge, huge positive development for oil traders. So oil looking good. This is a 30-minute chart. The drill down to a 4-minute chart. Yeah, we're breaking out here. We have higher lows. We are now breaking out this 4-hour bar to new higher highs. Very bullish. Let's check out the US Dollar. The US Dollar is weak yet again. We're off the lows of the session. This current bar, which opened up at 5am Eastern Standard Time, no new low yet. But I suspect as we creep towards support on a daily timeframe that ultimately we're going to see a break of the US Dollar, which bodes well for commodities. It's certainly helping out oil this morning. Speaking of commodities, let's take a quick peek at gold prices, which continue to be lackluster. We've been consistently bearish on gold of late for multiple reasons, the primary two being seasonality. And then of course the technicals on this 4-hour chart. You could see that we've had a couple of bull traps. The most recent back here where we broke out on the fourth, then rolled back over on the ninth giving up support. We have again broken out most recently on a 4-hour timeframe on the 13th and at current we're trading 1877 90V ounce down on the session by over a third of percentage point. Might we hold the support level? Sure. If not, there's a lot of trouble coming gold's way silver about flat on the session not loving this chart 4-hour chart lower highs. We're we're limping back some with higher lows but still lower highs every time we meet a resistance level. We're rejected no reason to go buying here taking the look at let's go with the equity markets will begin with the S&P 500 the S&P 500 up spot 2% or seven and a quarter points poised for breakout here. A very good looking chart. I think that ultimately we are going to resolve this consolidation with a breakout to the upside a beautiful W formation on a 4-hour chart and orderly downward sloping handle with the potential of a breakout very high. We remain long the NASDAQ 100 up over a quarter percentage point. It appears as though we are going to break out higher at current we're sitting on the NASDAQ 12,009 spot 5 0 and if I didn't already say this up over a quarter percentage point the Russell 2000 new highs today versus the highs of the ninth new daily sequential highs looking very bullish here. What else do we have let's take a look at bonds quickly bond prices are up which means yields are down this is the 10 year I'm going to segue over and into the members area to see if we have any stock chart request to go over before we log off and call it a session. I didn't go over Facebook last night I want to go over Facebook and rocket mortgage I did not cover that for members. We are long of these positions in the pre-market you're seeing Facebook bid up about a buck per share let's go to a daily chart now in a daily timeframe Facebook has one direction to go or else it's in a lot of trouble. We need to break out today we are in a very very tight we're at the apex of a triangle formation on a daily timeframe. And we came very close to breaking the lower band of support yesterday after closing down 1.42% we opened up a long trade the day before yesterday a test position meaning we like to set up we had broken out on the daily timeframe. However we were unable to hold it yesterday therefore did we go averaging down no way that's not what we do here. So we're poised on a new daily load possibly stop out here very small loss if we do manage to break out and hold the breakout point then we'll look to add to our position I still like the stokes higher lows RSI higher lows. I'm just not liking the price action yesterday very concerning volume action bullish rocket mortgage. Now this is a stock that has been begging for respect simply not getting it we are long and we broke out two times in the past three days once on the 13th above the 22 hour per share market there about 2190 and the second time was on the 16th as we closed above 2250 per share what happened yesterday we gave up that 2250 support level but held the 22 mark it's critical that we hold the 22 mark on the day. It's disappointing that we so quickly gave up 2250 so in this environment we do not go adding on weakness we go adding on strength watch for continuation breakout and or a recapture of 2250 per share and we'll look to add more not until then and with that folks everybody have a profitable trading day don't forget to subscribe like follow on our podcast be well.