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Good morning, good afternoon, good evening traders from across the globe and welcome to the 1,593rd. In fact, I think it's the 94th edition if you ask me. It's the 1,594th edition of shortterm trading live with Oscar. Good evening, traders. This video coming to you on a Thursday night for Trading Friday.
Um, let me just mention that well before we get into it, futures trading is extremely risky, can cause substantial financial losses, certainly not suitable for all traders. If you do not understand the risks, and they are big behind this game, you should get up right now and run from your computer. If you do understand the risks and you know that you need to place stops and you need to understand this game, hang out with me at livewithoscar.com and I will show you how the analysis plays out.
So what are we looking at? The Dow Jones transportation average for trading on Friday. And as much as this call makes my skin crawl, we are calling for a short in the E- mini S&P and the NASDAQ. Why? Because the Dow Jones transportation average is deemed the leader of US indices and it has breached this 50 bar moving average three full days in a row.
Look one 2 3 below the average. Now generally you know you don't stay below the average but these are way lower these examples. Look how much lower in price we are right then when we got to this one much higher in price. You only dipped down for one day and rallied up and you came back and hit it. You didn't even get through it and rallied up.
But this time you hit it, went through, went up and tested it and fell. That's different. That is a difference, right? There's a, if you ask me, that's a shift in the way we look at the analysis, day-to-day trading from Thursday to Friday. So, Thursday night, we now have to look at this as a seller of rallies market.
Again, makes my skin crawl to call an Omni short in a bull market, but I don't interfere. I make the calls. Omni says sell it. So we will be looking to sell NASDAQ or S&P or Russell for trading on Friday. So there's your Dow Jones or your indices. Let's go look at this little crazy chart. Gold traders, unbelievable rally the last couple of days in gold.
So what I like about gold is just like I showed you in the transportation average, but opposite gold is above a key average right now. the same key average that it stayed above when it was here and it rallied and came back, broke below, but it did not hold and now we're back above. And believe it or not, even though Omni has a buy signal for other reasons, this will ignite the street and make them want to probably buy gold again for trading on Friday.
So, we will be buying dips in gold on Friday. And then don't forget about this little gem, AVGO traders, Broadcom. We have been longing this for a couple of weeks now. The omni buy signal was here. The market has rallied, rallied, rallied. Our target was right here. You can see we got very close. We just didn't actually hit the target.
But our stop to lock in profit is right down here. So if the market drops lower tomorrow, you'll be stopped out with a fantastic profit. Bravo, Omni. Right. You can't ask for more than that in a stock and on we will go to another trade. If you are long broadcom AVGO from somewhere down here, make sure that you have your stop where I instruct on my omni page tomorrow morning.
Traders, that's what I wanted to show you. Get ready for the action Thursday night into Friday. Remember, come join me at livewithosscar.com. Meet me in my free trading room and I'll be more than happy to keep you in tune with these rough and tumble markets. Don't forget, keep your emotions out of trading.
In my opinion, one of the best things you can do to help keep those emotions at bay is say this to yourselves every morning, every afternoon, every evening. And by now, of course, you know what that is. Stomps are in, emotions are out. Rock and roll traders, I will see you all at my site. Join me in the free room at live with Oscar.com.
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