Updates And Follow-Through From Last Night’s Video And More Strategies Rob Is Using Right Now

Welcome back everyone!  Well with less than an hour to go in the market, we are still challenged by the same levels that I shared with you in last night’s video.  I mentioned the distribution bar over here from a few days ago on multiple indices.  You see that we are still having havoc played in that area on the S&P an DOW.  We just can’t break into those levels.  We tried to break through that level on the RUSSELL.  It was too much and sucked it back down into the distribution.  It was the same thing with the NASDAQ 

I was able to fire off multiple long side trades this morning.  It did not have follow through to the upside for continuations because of the key levels that I told you about.  

The same distribution levels will be in play.  The top end of the resistance bars is important too.   I want to see the market start to break through those areas.  The NASDAQ is already well ahead.  It was the strongest.  I want some of the laggers to show some strength this morning.  That is what got us focused on the long side trades.  I want you guys to focus on the multi time frame analysis.   

The 2, 5, and 15 were all firing off sell signals.  There was M pattern sell here.  There was a sloppy M pattern sell here.  There was a hockey stick sell over here.  All three of these were generating sells at the same time.  That dropped us right here.  That doesn’t look like much, especially when you consider that it went right back up.  We had buy signals on multiple time frames after the drop.  This distance down to there was approximately 14 points.  The average stop loss for a retail trader in the NASDAQ is around 12-20 ticks.  20 ticks are just 5 points.  That is essentially a range of 3-5 points.  This went back around 14 points.  That is basically 2.5x the normal retail trader stop loss.  That is a huge deal!  That is the normal maximum retail trader stop loss.  That doesn’t account for the people will tighter stop loss.  That is a big move when you start to think about it like that.   

I pointed out the same phenomenon again.  I said that we have a fish hook sell, M pattern sell here, a Hoffman fade there, and eventually locked in another M pattern sell.  We ended up having the multiple time frames locked in there.  It went right down the hatch again!  That was well over 10 points.  Again, that was over 2 plus times the normal maximum trader’s stop loss.   

When you start seeing sell signals on multiple time frames, that is a great indication of a place you might want to step aside from.  You are statistically fighting the grain.  That is why it is so important to learn these signals.  Then you can identify when multiple time frames are saying the same message. 

The same thing applied when we are talking about daily and weekly charts.  That could increase the probability of success.  You guys have a phenomenal night! 

Key Market Levels Rob Is Watch For Tomorrow

Welcome back everyone!  This will be a quick video tonight because my Premium Ones were very long.

This is a split market condition here.  I wanted to talk to you for a moment about that.  I was doing live trading to long side in the trading room.  That is when the NASDAQ was pushing up.  The RUSSELL was also pushing up trying to test the high.  All morning that was the problem.  You will notice that the S&P, the RUSSELL, and the DOW, could not break the key distribution bars that I have taught you so much about.  We met the criteria of 45% or more off the high at that time.  That is where one or more instructions not only stopped the market, but driving it back down.  We really had to pierce through those areas.  We also had the all-important resistance levels too.  We had double Dutch resistance here.  That really kept the NASDAQ from being able to follow through as well.  It also had distribution.  It didn’t have the moving average resistance.

Do we break down below these areas?  It is really that simple.  You will see that the DOW, The RUSSELL, and S&P have very key areas.  It is going to be a little tougher on the NASDAQ going into tomorrow.  I really want to get above here.  I don’t want to see the markets roll back over because that will put the NASDAQ in the heart of the gobblygook.  It won’t be till we get below the 6591 till we can get excited for short side trades.  If we get down below those areas, I will probably be looking to short the DOW or S&P.  I would love to see this market break above the distribution bars and tearing to the upside.  I would love nothing more than that because we had the deep cut below.  If we start getting above that, it could cause a nice spike back up.  That will make for some fun trading opportunities!

That is why I am focusing on the key levels that I have laid out.  I wanted to give you all the quick update.  I look forward to seeing everyone in the Live Trading Room tomorrow!

 

 

Rob Reviews Several Stocks And Markets To Prepare For Another Big Run Of Trading Next Week

Welcome back! Let’s take a look at several different markets this weekend. First of all, let’s talk about Google. For all its rallying that it did, it smacked back into key resistance on the daily and weekly chart. As you can imagine, I really want to get above those. Ultimately, I want to get above the 1120 level. At that point, if I see it’s support, I’ll be a lot more excited about runs back to 1200.

As for AMZN, I told you over the last few days that I’m concerned about this distribution in the backdrop here. These distribution bars are very powerful and they’re continuing to hold us. At this point, until we get above that 1500 mark, it’s going to be a pretty rough ride for AMZN. It’s only for intraday purposes from my perspective to see if we can get off to the upside. I won’t look for fresh swing trade ideas until we’re above that 1500 level and show that it’s support.

NFLX also hitting its distribution. As we closed out the week we really contained those resistances that I shared with you in the last couple of videos. So, same thing. Until we can get above that 290 level, we can start thinking swing trade toward 300/310 or beyond.

For AAPL we’ve talked about the 175 level. We’re continuing to hold that. We hit that level from the underside and it’s still resistance. I’ll say the same thing I’ve said multiple times, until we get through that 175 level, make that support. We really don’t have a big option for opportunity of which to take long-side trades unless you’re going to catch falling knives. If you kept a tight stop you might have been stopped back out before it rallied back up anyway. Better to let it show its serious about continuation. Don’t catch the falling knife, which for many of you has been painful over the years. Instead, wait for the resumption back in the direction of the trend. Those can usually be more profitable in my opinion.

The US Dollar is holding on for dear life and we have this accumulation right here. If we start to fail down below this area in the days to come (not counting Monday where the futures might trade and not the equities). If we actually have that activity during regular open session where the bond market opens, that could bode very poorly for the US Dollar. Watch out for around the 8825 area.

Crude oil is very similar to a couple of stocks I showed you where they’re sliming into these resistance levels that are currently falling. Until we get above that 63 level, I’m not going to breathe too easy. I really want to get above that 6390 for swing trades and/or day trades.

As we take a look at the overall market for you, you’ll see a common theme. If you were watching my video from yesterday, I talked about the expectation for a pull back going into Friday for the fact that we had really high, over-cooked stochastics, which imply a pull back. Also, because of potential profit taking, where people are not going to want to hold into a three-day weekend. You can trade futures on Monday but you’re not going to want to trade equities. That can lead to pressure. Sure enough, that’s what happened. We had the Nasdaq above some levels but we couldn’t break the Russell. I was still able to fire off some long-side trades this morning in the Live Trading Room but it wouldn’t break that level that would allow us to have a big splash to the upside and have a true recovery. The S&P held down below that resistance in the 2744 area. The Russell very importantly held at the 1553 level, which was unfortunately was devastating for us. The Dow held below the 25335 level. So, it just was too much and kept us under pressure in these other markets. At this point, I want to break through these levels going into next week Tuesday and beyond.

Also, one more thing to keep in mind, that very special offer I made for you for the Live Trading Room will end on Monday at noon CT / 1 p.m. ET. The Jumpstart Trading Course that we sell for $997 and the extra 2 weeks in the room will come to an end. Now is the time to join our Live Trading Room. Go to www.becomeabettertrader.com/live this weekend to get the bonuses.

Have a great weekend! We’ll see you Tuesday morning in the Live Trading Room!

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

Tonight’s Market Review And A Sad Loss Here At BBT

Welcome back! Let’s review the market first then I have a little bit of sad news to share as well. We did get follow through today, which was great. I focused on long-side trading and did long-side trading in the Live Trading Room. That was the right course of action. The key was we had the Nasdaq coming back above the channel at 6720. The real key was we needed to get the Russell pushing back up above this 1530/1532 area. Well, we did and that worked out really nice. That really got this market accelerating this afternoon closing out near the highs. We are really over-extended going into the holiday weekend. My favored trade going into tomorrow would be a small pull back early on and then start to actually resume and blow this thing up. Or just open up and continue to blow up. Either way, it’s perfectly acceptable to me. What I don’t want is to have to start fighting my way back down to key areas back to the short side. If I have to do that kind of trade then I’m going to use tighter stop management. The preferred trade of choice is absolutely to the upside and I’d like to see that to continue. I recognize that we’re very over bought on the U.S. Stock Indices and going into the holiday weekend where you want to take risk off. That can lead to profit taking. If it just drifts down tomorrow I’ll probably just step aside and focus on education. We can slow it down for a day if we have to. It’s not just the money we make, it’s the money we keep. I’d love to see some more short squeezing back to the upside. We’ll have a bigger issue to address on the back end of this once we start getting back up toward these peaks. We’ll talk more about that in upcoming videos.

Turning our attention back to something we talked a lot about until the last several days was the Bonds. We were looking for breakdowns in the bonds previously. We did get those. Remember what I told you was we got these consolidations. We wanted to see if we could get through those consolidations to the downside. We broke through that support, rallied up to it, rolled over and broke down below the accumulation bar. That led to a really nice move to the downside, which is phenomenal. Bonds are under a lot of pressure. You can see daily and weekly chart trending. While we’re due for some retracements back up, I’m not going to be personally looking to buy a dip here based on these trends.

Gold is doing a pretty good job and is holding up real nice. We have some major resistance from the middle of last year to our recent past. If we can get above that 1360 area and actually make this area support, we could see higher prices in gold.

Another instrument I’m watching is crude oil. I want to see if we can get back above the $63 mark. That might lead to another retracement back to the 66 area. As far as some key stocks, I’ll probably go over some on the Wealth365 site as well, but basically we have NFLX challenging previous highs. This high is also made up of a big fat distribution bar on the weekly chart. I’m going to use that same strategy on an intraday basis. If it pulls down, I’ll look for a scalp on the short. The word scalp is probably misleading since we’re talking about a $13/$14 pull back. From a swing trade perspective, there’s no fresh swing trades – especially going into the holiday weekend. We’ll have to come out the other end of the holiday weekend before looking for any major swing trade on that as well as break through that distribution area that I just highlighted for you.

Finally, I’m sad to announce that we lost a long-term family member of ours. Many of you will remember Tim. He was the first person that won the St. Jude’s charity event when we started doing those in 2014. As you can see, Tim was only 58 years old. He won me coming out to his house because he donated money to charity and he won the lottery for me to come see him. I met him and his lovely wife. He was a pharmacist. He was a good man. I loved working with him. He was a good guy and good person. He lived in California near Temecula on a big ant hill. I remember going to his house and spending time with him. He was just a good person. I made a difference in how he traded. He had 11 pages of work and I got him down to one after being with him. He shared some of his exciting trades with me. It’s going to be a real loss. He found out in December that he had cancer and unfortunately I found out in January that he only had a few weeks left. Unfortunately he passed away. I want to celebrate him. I just don’t understand why good people like this have to go so young and early with good families. Needless to say I want to celebrate his life. He loved trading with our student family. From me to his wife, you’ll be missed.

Good night, take care and we’ll see you soon.

The Market Responded Right On Cue As Rob Shared With You Yesterday!

Welcome back! What an exciting day in the market! Everything we talked about in yesterday’s open house came absolutely true. We told you that after the inside bars from yesterday was to breakout from the Monday high or low. Well, we initially faked to the downside with the morning economic data only to come back up to burst through the top end of this. That led to a market that was phenomenal. I did several trades in the live trading room right on the screen in the front of you. You can’t make this stuff up. It was great for people to watch me take the live trades and how I managed that with this market pushing to the upside.

After the trading room was over, I put out a trade alert to show you what I was looking for going into the rest of the session after the morning trading room session. Boy, did that work out sweet. Look what happened going into the afternoon. We went up to my weekly speed lines and pushed up really nicely going into the afternoon session. If you got the trade alert, you were well prepared for what I was looking for this afternoon.

We had that super tight compressed day yesterday but I managed to get a little trading done in the open house. I’m right back on track. Going into tomorrow, we’ll be going into some key resistance levels. I’d love to see us initially open up, pull back a little bit and rip to the upside. We’re coming into multiple layers of resistance on the S&P, Russell, Dow and Nasdaq. Nasdaq is doing the best of the bunch. If we do start to spike up on the other charts, I’ll be looking for a long-side trade on the Nasdaq first. Keep that in mind if you’re trading equities and options as well. I’ll keep you informed on some of the key things I’m looking for.

Typically on a day like today, we’ll get some sort of pull back. I might look for a short-side trade back down to the speed lines but it will be a smaller size type trade with tighter stop management. I like to be long above the speed lines and short below. Right now, given where the market is at, I would love nothing more than to have another continuation of what we saw today. It was phenomenal for the trading room to see.

If you did not join the trading room yesterday, we’re just killing it right now. This is an amazing time to be trading. We have the three months with me in the trading room, you have the day and swing trading newsletters, the trade alerts like the one today, all the training videos, the starter package plus indicators and the jumpstart training class, which we sell for $997 on its own. Right now, we’re still offering the extra two weeks in the Live Trading Room so it’s actually 3 ½ months in the trading room. It’s an incredible amount of value in the for $797. Come join me by going to www.becomeabettertrader.com/live to see exactly what I’m doing using some of the strategies I shared with you yesterday.

Have a great night! I’ll see you in the Live Trading Room tomorrow morning.

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

Did You Miss Rob’s Dead On Trade Alert Today? If So, Join Us For Free Tomorrow!

Welcome back everyone!  We will keep this video nice and short for you.  I put a trade alert out for you today for the 1485 or better on the RUSSELL to go long on the NASDAQ or S&P.  I wasn’t looking to go long on the RUSSELL.  The market has done a nice job of going up since the trade alert today.  Make sure that you are getting those trade alerts.

Tomorrow is a special day of course.  You guys will be invited to see me tomorrow morning.  We made a lot of money over the last week.   I did multiple trades today in the Live Trading Room.  We were down below key resistance levels.  We are now sitting and trying to work our way back up.  The markets still have about 50 minutes on the session here.  I wanted this video to get out early tonight.

We are going to be navigating that tomorrow morning.  I haven’t had an open house in months.  I am going to do another one tomorrow in celebration of all the money I grossed last week.  Go to www.becomeabettertrader.com/room to get signed up.  Come ask me questions about your favorite instruments.  I only have been skunked one time here in the last several days.

Again, go to www.becomeabettertrader.com/room.  I will see you guys tomorrow!

The Perfect End To A Perfect Week Of Trading! So What Now?

Welcome back everyone!  It has been an exciting week!  It is not quite done yet.  I am taking a quick break right now.  I did nine trades in the Live Trading Room right in front of students.  That was very exciting and draining as well.  I continued trading into the afternoon as well.  I am looking to see if we can plow some last minute trades to close out the week stronger.  There were thousands of dollars gross profits in front of students in the Live Trading Room this week.  I want to get some things out of the way fast. 

I have been telling you that if we got down on the RUSSELL, that I would look for selling.  Sure enough, it continued to sell today.  We have been holding below the speed lines.  I always say that if we hold below the speed lines, I would look for short side trades.  Think about this now.  Yes, we are into previous accumulation areas.  If you are going to do that.  Make sure to have a very tight leash.  What happens if we start breaking down those accumulation areas?  Think about the kind of volatility we have had.   Look at this morning with TSLA. 

TSLA fired off sell after sell with my indicators.  There were red dots, red bars in a downtrend.  There were green dots breaking below.  That is a fresh sell as well.  It happened over and over again.  This market just tanked!   

We had a red dot, blue bar on the NASDAQ.  Then we got a magenta dot.  That is a cloud breakout sell with the red bar.  I wanted to be looking for shorts with that.  All the great strategies I shared with you in the Wealth365 and BBT event is starting to come home to roost.  Short side continues to be the case.  I understand that people want to be top and bottom catchers.   

I precisely shared the 175 level on Apple.  I said that I would be doing no longs below the 175 level.  We have dropped about $25 since that time frame.  You just have to understand.  Catching the falling knife doesn’t make sense.  I would rather wait for a position of strength to take place.  I am not trying to get top or bottom dollar.  If you guys are in my trading room you watched me gross thousands of dollars without having to be a top or bottom catcher.  We did sideways trades.  I really don’t want to catch the falling knife.  It is not that I won’t take longs on Monday.  

Join me on Tuesday morning because you will all be my guest.  I just did nine more trades this morning!  Hopefully you guys get to see some good trading there.  I did get skunked one day this week.  However, that is no big deal.  I grossed over a thousand dollars the next day.  There are so many great trading days right now.  Make sure you go to www.becomeabettertrader.com/room to get signed up right now.  You won’t want to miss that!   

Right now, the plan is the same.  I’m hoping we get a major break out or break down right now.  That is why I am shooting the video now.  We are at these key support levels.  If we are below the speed lines, I still want to focus on shorts to be ready for the market roll over.  the computers are ready too.  When it sells off, it really sells off.  The market walks the stairs up and rides the elevator down.  Let’s be on the favorite track!   

That will be my plan for Monday morning.  Make sure you watch that video from earlier this week.  I think it is up through tomorrow.  I am looking forward to seeing you guys.  Go to www.becomeabettertrader.com/room to join me!  I am not willing to catch a bottom here.  I want to see the market return to a position of strength.  I will announce that position of strength at that time.  We are just a stone throw away from major resistance on these charts.  If we can break those levels, this market could get uglier.  Will it hold and return to a position of strength?  If it doesn’t I don’t want to be taking massive positions to the upside yet.  Apple is $25 lower than the level from my recent video. 

I can’t wait to have you guys with me Tuesday morning.  Go to www.becomeabettertrader.com/room.  If you struggled this week, bring your favorite questions Tuesday morning.  I will try to help you become a better trader.  Have a great night and a great weekend! 

Key Levels On The Stock Indices And AAPL That Rob Is Watching For Next Trades

Welcome back! As you know, it’s been a phenomenal and exciting week. I’m glad a lot of you got to join me either last night or this morning for the special events. It was a real nice follow on from Monday and Tuesday’s great trading. I spent some time with you to get you up to speed on the tools and strategies that I’m using right now that have made me so successful.

 

Today, the focus from very early on was all about tools and strategies that I share with you so often and continue day after day continuing to prove their salt. That is the speed lines and kill zone strategy. We basically had rising support levels that we were hitting under here. That caused the market to push back up to falling resistance with my all important speed lines. Today, all morning long it was all about the speed lines. For hours into it, it was still the issue at hand. I kept warning people. We noticed that the Russell in particular was not going along with the party right now and that’s a bad sign. I really wanted to see the Russell coming along. The markets ended up holding the speed lines. We pushed back away from them, rolled back down and we’re either in or below the speed lines. Going into tomorrow, that’s going to be really important. If we’re below the speed lines, then I’ll be far more aggressive on the short side. If we’re above the upper speed line then I’ll be more aggressive on the long side. It’s just that simple to use that as the key focal point. In between the speed lines, I’ll probably be doing very little. I’m going to be looking at more so looking at getting above or below these areas.

 

Stocks like AAPL, to go short you’re looking for red dot, red bar. Then look out below, this thing went ahead and dropped very nicely about $17. It has since tried to recapture long side support. We’re now sitting here trying to hold on for dear life for this long-term support. Right now, this is a heck of a battle that needs to be fought at this 15954 area. If we start pulling away to the downside then that could bode very poorly for AAPL. If we can hold that level, then we might be able to regain some ground that was lost after the sell signals kicked in. We’re going to be watching those. This thing ended up being a short-term blood bath. That’s going to be the key level we’re watching: 15950 on AAPL and each of those key levels on the stock indices that have those highs and those lows. We’re looking to close out the week as strong as we started with several thousand dollars of gross profits in the live trading room and beyond.

 

I’ll look forward to seeing you in the Live Trading Room tomorrow morning or in the nightly videos. Have a great evening!

This Is Where The Stock Market Is Most Likely To Bounce, Or Else…

Welcome back! What an exciting end to an exciting week. I fired off several trades in the Live Trading Room Friday morning. Of course, the market is the gift that kept on giving. So, as we go ahead and take a look, a lot of the things we talked about in the last few days came to fruition. I gave two variations of what usually happens with these rollovers. We saw the more classic one, which is pushes down and pulls back up to the speed lines and rolls back down again. This is a wide range move into rising support. Typically going into Monday, we would see what will happen. If you hit long-term support on the DAX, The Dow and the S&P. We will be on the lookout for a situation where we open up, go up a little bit and go back down. That’s going to make me turn the gas on the sell side again. What’s happening is people were like “this is probably just a pull back so when’s a good time to buy?” From my perspective, right here is where we would expect a bounce. If a bounce is going to happen going into Monday, this is where we would normally expect that initial bounce. That’s what we’re talking about here. Most of the time when you have a wide-range bar like this into rising support, this is where you expect to bounce going into Monday.

With that being said, I’ve had a lot to say about AAPL. If you recall when I did that Wealth365 Exclusive back on January 25th. I said back off AAPL longs below 175 and what happened since that time is this market has basically gone straight down. There it was. This market has gone basically straight down since then. It brings up two points. Number one, go to www.wealth365.com. I have a lot of exclusive content on there that you can’t find anywhere else. I just posted another one too about Google. Make sure you guys go and see that as well.

As we take a look back to AAPL. Where is the long on AAPL? From my perspective, it’s basically on Monday going to be right into this area. Either this market is going to hold to this long-term daily or long-term weekly support. It would be a long-side trade right here with a tight stop back behind rising long-term weekly support. Roughly a $3 risk looking for an opportunity to get back toward 170 so roughly a 3:1 risk ratio is what you’re looking for on something like that. If you’re heck bent on taking a long, from my perspective this is the place because it allows a fairly tight stop before you might be really long. At the same time it gives an opportunity for a 3:1 risk ratio. Those are my initial thoughts as well.

I had a question today as well on cryptocurrencies and which exchanges are carrying the volume for particular cryptocurrencies. That’s also on www.wealth365.com. Go to “Tools” then click on “Cryptocurrency Market Capitalizations”. Click the button and sort by “Volume” and it will give you the highest to the lowest.

Don’t miss those fresh articles I put out on Google and check out the other great news as well. We came, we saw, we conquered this week. This market is keeping us excited with these NASDAQ shorts today. With that being said, it’s coming Monday or we might see a much deeper correction. At least you have some sort of idea on how to manage stops from a very tight perspective. It’s either going to bounce right away or it’s a situation where we back down the hatches and control risk more tighter from the long-side perspective.

Have a great weekend! Can’t wait to see you to knock out several more trades on Monday in the Live Trading Room or in the nightly videos. Take care, everyone!

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com