Last week's sell every blip higher has reversed to this week's buy every dip lower. That in turn created yet another trade-sequence opportunity for active traders what cannot go down will squeeze up in near-term oversold conditions. It goes without saying that plenty of newbie and neophyte traders who have no clue about what they're doing kept selling into that late-day ramp. The masses always do.

With all the problems facing the Euro zone and a slowing in China it is truly difficult thinking of the next rally that will see an across the board rise in financial assets. While I maintain short term we are in for sideways equity futures markets with a downward bias; looking at the horizon a rally is definitely in preparation. The key is if Euro zone issues a new form of debt. Without this, a rally is difficult to imagine based on fundamentals.

Some things never change. Regardless of what the FB bankers did or not do, and regardless of what happened at the NDAQ exchange, the blame game is alive and well. This is not to say that responsibility for errors of omission or commission should be ignored.

In this video posting, Patrick will review what has happened during the past week in the S&P500, Nasdaq, US Dollar Index, Gold Futures, eMini Crude Oil, & 10 Yr Treasury Notes.

In today's video, we are going to take a quick look at bull and bear traps in the markets. These traps can be detrimental to your trading if you don’t know how to utilize your trading or work around them. As the market fails to push past our supply zone, we wait to get confirmation of the bull trap pullback.

In today's pre-market prep video, we will take a look at the ES and NQ markets. In the Nasdaq market, we saw a major pullback as the market took out short coverings on its way back into its value area for the month of May. Do not be surprised to see this market continue rallying back up toward the point of control for the month.

The Trader Kingdom Market Data Journal Sheets provided by PivotFarm combine major market metrics into a concise snapshot for nine markets including the S&P 500, Russell 2000, Crude Oil and Gold.

As traders we should understand and practice good Money Management techniques. These are not only essential to our trading success but also ensure longevity within our chosen career. Quite often we find traders who are caught up in their success and start to change the lot sizes of their particular trades and find themselves outside the scope of their Trading Plan.

Veteran trader and world-class futures trading coach, Jeff Quinto tells fellow traders that "Learn to Love to Take Losses" in this 301st episode of The Electronic Trader with Jeff Quinto.

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