AMZN, TSLA, NFLX And More Review By Rob Tonight

Welcome back everyone!  Let’s look a few stocks, futures, and Stock Indices.

Today we are retesting the magical 51 level on Crude Oil.  We need to keep a real close eye on that.  I have mentioned the 51 dollar level before.  We had a nice creep up.  However, once it hit the 51 level it exploded.  We used up a lot of rocket fuel to get to that level.  I would like to see us push through that, show us that it is support, then look for another rally.  That could bode very well for Crude Oil prices.  That 51 level is another key level that we are taking a look at right now.

This is real important gang.  The S&P is holding above the speed lines.  The RUSSELL is below the speed lines.  The DOW is above the speed lines.  The NASDAQ is in the speed lines.  The DAX is just above the speed lines, but was below before.  This morning the DOW was above and the DAX was below.  I told everyone in the Live Trading Room that could lead to a lot of volatility and whipsaws back and forth.  That is exactly what ended up happening.  It is real important that with the FOMC tomorrow, that I am looking for confluence.  I want to see all of these back above the speed lines.  I otherwise would like to see them all back down below.  The DAX is going to be a little less important if the other four are doing a good job.   If the four are above the speed lines I am going to be looking above.  I am going to be much more aggressive is the DAX is with the same directional move.  Right now it is all about being above or below the speed lines.  That strategy has served me very well numerous times.

I told you guys about the thousand dollar ceiling on AMZN.  That ceiling continues to hold us right now.  I want to see us get above the 1000 level, show us that it is support, then we could see some incredible movement opportunities on AMZN.  I will be looking at that on a day trading basis as well.  Those of you in the Live Trading Room might see me do some of those types of trades.

I talked to you about the 200 dollar round number resistance level on NFLX.  We are pulling back away from there as well.  We have to get through that level, make that support, so that we could look for higher prices.

TSLA continues to be sideways and technically damaged.  I don’t want to touch it in this area.  It is basically a 50/50 trade.  If we break above the 360 area, make it a little support, then I might look for a move back to the 380 area.  This is a much more aggressive look because we are in the channel.  That drastically decreases the probability of success.  I usually don’t like to act on anything in that area.  I wouldn’t even give it a second look until it is back above 360.

You guys have a great night and I look forward to seeing you in the Live Trading Room!

To learn more about Rob Hoffman Trader visit!

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