 Good afternoon, this is Melissa with the stockswush.com and welcome. I thought I would do a market review. I was gonna do one earlier this week and then I just got busy with things and I thought, well, I guess I'm gonna do it now because clearly, clearly, clearly, I have 100% conviction, which I've been saying all along the market is higher this year in 2013. So it is 545 on July 12th and the market did a beautiful gap up, a bullish gap yesterday on the 11th. I saw it and I don't remember what time I said, let me go look at the two minute chart of the five minute. I actually called a trade to buy the market and I didn't do it because I don't go long but I called it for my room to buy the market and put the stop under 45. It was like right around in here. Whatever time this was in here that I saw, we were gonna hit over it and I'll explain why in a minute and it was a good call. It was a nice call, it was a five hour trade with a 10 cent stop right up to the target, which was $75 and the market got up to it. Now, when we gapped up this morning, I said, we're either gonna have a tiny, we need a little, tiny doji day of no color or a small, tiny, tiny little bodied red day but we're not really coming in. I must have said 100 times, we're not gonna come in today. We're really not gonna come in today even if we start to trade down, we're not coming in today. And I said, or the other option is we break out heavily, aggressively over 75 and run. And that's actually what we did. We actually touched over 75 went up to 75, 15 in the morning, came in and we started to go red and I'm sure people were shorting stuff right and left thinking that the market was gonna come in and turn around and go red because we're extended but the fact is we're really not extended. Look at this, this isn't extended. You gotta look at something from a different viewpoint, okay? Now, we ran up, we came in, we ran up, we gapped down, we fell and we retraced and pulled in, this is a pull in. Then we rallied. I really did a good job reading this because this wasn't easy. My intuition kicked in here in high gear watching that type of rally. I said, this is a weak rally but as I was verbalizing the weak rally, I still said it's a rally meaning we're holding. Any kind of rally is a hold. It's a real rally, weak as it was because there really wasn't any lots of green bars in here. It was still a rally. We could have come down here in a daily cell set up, we didn't, we could have come down in here in a daily cell set up, we didn't and we rallied and we rallied, rallied, rallied and we gapped up here and this seems extended simply because of the fact that we retraced but we came in hard. So we came in hard and retraced. So if you take this out, let me see if I can squish this down to make it look like you couldn't see this. If you squish it, we're not extended. Trying to find a better way to do it. To explain what I mean here. If you squished these bars, see if I can find a way to do this here. Back to April. Just want to prove a point here. This isn't extended. Just look at this. Just visually look at something in a new way here, okay? This is not extended. So we rallied up and we pulled in. This is basically, if you look from tip to toe here, a retracement. So we're not extended. So when we came in, I saw it, I was like, this is interesting. And it was funny as it was happening. I was like, wow, this is really gonna hold. And whatever time I called the buy in the market, I knew and had a hundred percent conviction we're gonna hold. And this was yesterday in the 11. And I even said this morning when we gapped up neutral a little bit here, the way that this was shaping itself up here, I said, this is bullish. What I thought we would do, which we didn't, I thought we gap up a lot after the run up on the 11th. I thought this morning pre-market, we gap up big and then come in red, but that's not how we did it. We gapped a neutral that was bullish. And it is bullish and approved it because we ran up today. We went up to another level. So the point I'm trying to make is if the market is higher. And I've been saying this for a long time. Now, I'm not gonna lie to you and tell you that a lot of people kept telling me, we're coming in, we're coming in, we're coming in. This is a big topping tail with a red bar and lower highs and higher lows all along here. And we had a good discussion in my training room actually yesterday because everyone was saying, gosh, we understand what you're saying, Melissa, but our gut is not seeing this. Like the stuff that I teach people are comprehending. I think they're having a hard time believing that everything I'm saying is actually turning out to be what it is because the fact is that this is a gap that happened yesterday and it's real. And everything that I'm teaching people about gaps and what I know and the way I'm trading them is real. It sounds like too good to believe in the sense that something like a gap could actually set the tone for a chart, but the reality is it does. This is a reason that I'm successful as a trader because I understand how to trade gaps. I know how to read what the good ones are and I know what the bad ones are too. And if you wanna be good, you gotta know what is good to train and what isn't good to trade, what's real and what's not. And quite frankly, if you want to be a successful trader, even if you don't wanna trade gaps, even though I think if you learn about them, you'll decide, oh my gosh, I have to trade these things. There's really nothing else I could possibly do that makes any sense after you learn gaps. But I think gap trading helps people trade no matter what strategy they do because it helps them learn how to read trends and stock charts. And this is the other class that I teach besides the gap class, the trend class. It's very important to understand trends. And you could say lower highs and higher lows and boop, boop, boop, boop, boop. But there's so much more to trading than that. What is it that's the price? And how does the price reflected in a chart in a gap? There's no stronger, higher, more powerful, more flamboyant expression or definitive nature of a chart, of a market of anything, then the price of something. And when a gap rates high and sets up to go and work, it is real. It's gonna follow through or change the trend in a chart. And you must respect these gaps. They are 100% real. And as crazy as it sounds to think of something that could rally up for 10, 12 days, could still go higher, it absolutely is. The low of this bar here, 74, 25, and it's the high of this bar over here. That I just found out. Here, it was this one. I knew it was over here. This guy. And really, these are areas, because it's 74, 33. So this is 74, 33 and 74, 27, but it counts. It's real. There it is. So once again, I think it's really important to learn how to trade looking at the bigger picture. If you look into minuscule of a timeframe, you're not gonna get it right all the time. In fact, you're gonna get it wrong more than get it right. This is one of the things that traders struggle with. If you look at a bigger picture, you're gonna get it right. And actually, to be honest with you though, this is easy to me because if you look at it in a smaller picture, you can see how this was an up and down retracement. Therefore, it's not extended that we rallied up here. You see what I mean? So, so we're higher. The market is nowhere to go but higher. Didn't really look here to see where we're going next. Actually, I did the other day. I forget what the numbers were. I wrote them down in my book. It's probably somewhere about up here. I don't think there's anything stopping us till then. Nope. So I think we're at least gonna get up to 80 for we even think of any pulling. That's $5 away. It's not a million miles. We'll be a nice rally in the market. I don't know if we get there in one shot or if we wiggle and jig a little bit. But I know we're higher. I said we were higher this year all along because we're in an uptrend. Unless the market does something to tell me that we're in a downtrend, we're not. Like this gap that happened here was a gap but this didn't change the trend of the chart. Therefore, it didn't do anything but just run on the deck. Create a short-term miniature timeframe pull-in but it wasn't a real gap to change the trend of this chart. So therefore it flipped and it flipped rather quickly. And in the real time when I saw this happening, I said as soon as we close over this, we're gonna just go boo. But it took a couple of days and then we did it in a gap. Beautiful. So this is the QQQs. This is Melissa with the stockswish.com. Beautiful chart of the market. I knew we'd break over 75. I've been saying it the last however many weeks. And I thought we might retest it and then come in and then break over it but we did it right away. So there we have it. It's just proving how strong we are. We could have retested it and not gotten over it. I mean, actually yesterday we closed but we like ran out of today here. We closed as a dink over it. We could have gapped down today or something or just retraced in but we closed so strong like I knew we were gonna follow through. But I thought we might retest 75 and then come in and then blow over it. We just blew over it, not that far after it. So definitely, definitely higher. This is clear to everyone. You must respect the strength and the trend that's happening in the market. The market is higher and I think more participants are gonna come in now in the next week. Why? Because it's really clear now the market's higher. I think it's been clear all along but for those people that don't know how to regaps or don't know how to retrends are weren't exactly sure. The late bloomers are gonna come in and start buying down the next week and then the market's gonna have the nice little rally that may just take us right up to 80. So if you'd like more information and if you wanna learn how to trade gaps even if you want to not train them, day trade them but swing trade them, court trade them just learn how to retrends and charts or even the trend class then contact me at the Melissa at thestockswish.com. You're gonna become a better trader if you learn how to trade gaps. Even if you don't trade gaps as your strategy, why? Gaps tell you what is happening in a chart. There isn't anything better. It's almost to the fact when you see these things work show amazingly well to the point of disbelief. You question yourself or what you think makes sense but if you know how to trade gaps and how to read them, everything they do make sense. In fact, nothing else makes sense to me and I think that's why I'm trading so clearly lately for the last year, year and a half really just seeing things so clearly because of the length of time that I have been trading gaps where I was talking about that too in the room this week. You know, there's something to be said for experience. There's really something to be said for experience and the longer you do one thing the better you're gonna get at it that you're gonna become successful. Too many people learn things and jump from thing to thing to thing. You've got to stick with one thing to get good and if you stick with that one thing and you're doing it for a length of time you're gonna become successful as long as the thing you learned works and the stuff that I teach about gaps is real and it works. So if you'd like more information email me at melissa at thestockswitch.com have a great weekend everybody. Have a great Friday night. This is the QQQ Stock Market Update. If you need anything email me at melissa at thestockswitch.com.