[Nailed It] Perfect Day And Swing Trading Session

Welcome back! What an exciting day on Wall Street and that’s an understatement! As we look at a lot of things that we’ve been talking about and the articles we’ve been posting. The things we’ve been telling you have been coming true. Also, keep an eye on the WSI Indicator. Some really big things happen with those indicators giving you a leg up over a lot of other people. Especially combined with our articles that we write tied into the ITP and TRP indicators. That’s an unstoppable combination from my perspective. You look at the articles and indicators that have been firing off, we wrote about McDonald’s and you can see why. We had buy signals in the uptrend and multiple signals crossing over. We had buy signals breaking above a short-term sell in an uptrend. Of course a fresh buy in and of itself. Now McDonald’s has achieved Target 1 and analysts were expecting the market to ultimately go to.
I’ve been telling you about AAPL over and over again and we fired off the buy signals and crossover the zero line and had a fresh sell signal in an uptrend which of course is a buy signal once broken to the upside. Here we are now up there well into analysts earnings. It’s hitting Target 1 and is on its way to Target 2.
JP Morgan we wrote about after the earnings announcement. We didn’t want to get in and do anything right before the earnings and it locked in a reverse Inventory Retracement Bar crossing the zero line holing above the Target 1, which meant we’re likely on the way to Target 2. Sure enough, after the article, it went right to Target 2 where it’s been the last couple of days.
We had an article about Disney for you. We had the buy signal just like the buy signals in the backdrop. Of course it went ahead and beat its earnings and took off. That’s just a small taste of putting some of these things together with the TRP in conjunction with the WSI Indicator at wealth365.com and exclusive articles we have written for you. This brings us back to the market as a whole. The Russell was the thing to watch yesterday and this morning. With yesterday, we were focused on longside trading. With today we’re focused on longside trades. It drove to the upside which led us to buy signals on an intraday basis. The buys went to Target 2, pulled back to the uptrend. It bought and had some great buy signals in the meantime like the reverse IRB because everything was above the zero line. We wanted to play the strong player when the Russell is cooperating. We were taking live trades on the screen in front of you in the Live Trading Room and focusing on the Nasdaq. That’s how we played it and why. This is real world, real trading, real on the screen action in a real live account. It was also bringing together other sources you had at your disposal here.
With that being said, watch past videos. The way I’m playing this going into tomorrow and beyond, we’re going to be keeping those signals and looking for fresh continuations and what I want to see here is the Dow and S&P hold these speed lines. As long as we remain above these speed lines, I’ll remain bullish. At the same time the Russell has to get through this area. I was the most bullish on the Russell. The 1595 area is where I’m most bullish. What I want to do is get above this distribution that I set forth. There’s a lot of activity in this immediate backdrop. There are highs and different trading activity all through here. If we clear that area, that’s going to be a lot better for the market as a whole. Then we’ll continue to look for stronger plays in the market. These things are all coming together and we saw this clear as day with the WSI. We saw this clear as day with the indicators. Pick your poison: Disney, JP Morgan, AAPL, McDonald’s. That was on the swing trade basis. Then on an intraday basis, we’re using the exact same strategies. We’re taking the strength in the Russell and finding live trades like I did this morning.
I’m looking forward to sharing more with you in the days to come with these different tools you have at your disposal.
We look forward to seeing you tomorrow and Friday morning in the Live Trading Room or have the TRP.

Why We’re Watching Halliburton, Crude And Where To Be This Wednesday

Welcome back everyone! We wrote an article today on Halliburton and if you go check out www.wealth365.com , you can see that article there. What we’re focusing on is Halliburton’s earnings and President Trump’s moves against Iran and such. Also, there were some big updates to the WSI indicator so you should go take a look as well. That being said, one of the key takeaways from the Halliburton article is we shared were expectations that were at $40 mark. So one thing we want to do armed with that information is look at if Halliburton might be a good opportunity to take a trade. So, one of the things we’re checking out right now is it had this massive wedge of resistance that you can see in this $32–$33 level. There were lots of highs, lows and opens/closes. Analysts expectations are way up here. They had positive earnings and with news from President Trump, we’re looking to see if we can get through the $33 mark. We want to make $33 in key support area then we’re looking for fresh long-side opportunities or in option strategies to look for those moves upward.

We’ve been showing you in some of the videos from last week how to use those articles we’ve written to tie into some of our trading strategies which can be very powerful. That $33 level can lead to some good moves to the upside.

On the underlying instrument with Crude Oil as a whole, this really since December along with the overall stock market where we identified that bottom there, we fired off some buy signals in that area. We crossed through that zero line and every time as we got into that uptrend, those are fresh buy signals as you know using my strategies and of course the fresh buy opportunities themselves. During the Wealth365 Summit, I taught you some additional strategies. We have a small makeup session this Wednesday. Keep this in mind. Right now we have a new strategy we can watch with Halliburton. In the meantime, the underlying Crude Oil futures have fired off numerous buy signals and what we’ll do is talk about what Halliburton can look like for buy opportunities, too. So join me at 1 p.m. EST this Wednesday. Go to www.becomeabettertrader.com/go to get signed up. We’ll look forward to seeing you at that special event and what we’re looking at from a stocks, options, futures and forex perspective. We’ll see you there!

Why We’re Watching The S&P, NASDAQ and SNAP Here

Welcome back! Let’s take a look at several different things. There’s a couple things that are important to me. I’m concerned with where the Russell is at. We’re in the middle of the kill zone for sure. We have rising support underneath and falling resistance on top. We’re right there stuck in the middle with some long-term resistance as well coming down from the backdrop. You can’t get much more jammed into that area. With that being said, the other thing that bugs me is the distribution above us on the S&P. Everybody has been celebrating how great the market is but they’re looking at the Dow. They’re looking at these distribution bars. It has me concerned with the distribution on the Nasdaq as well. We have the resistance and distribution. WE have negative divergences as well. We have to be careful going into the post-holiday with Easter this weekend. I’m not going to be real excited about taking any long-side trades until we’re above the distribution on all of these different areas. In the meantime, there’s going to be select opportunities  for intraday longs. We fired off some good buy signals there earlier. We crossed above the zero and it got really bullish and we had sell signals and in the uptrend we have fresh buys. We locked in a couple things I taught you at the Wealth365 Summit. We had Inventory Retracement Breakouts and Inventory Retracement Bars. They were hitting the targets very nicely. We hit target 2 on the first push and second push. Those are the type of plays on the intraday basis.

On an end of day basis, we’ve been putting out these articles for you. I was asked again about SNAP. At Wealth365.com, we talked about it being overvalued and we had this distribution that is locked in there. We’re at a key target as well. The other thing that ties with this is we have a negative divergence where we have higher highs in price and lower highs in indications. What’s got people excited is we were firing off a lot of buy signals. When we break out a target 2, that can lead to big moves up. If you took one of those continuation moves, that’s wonderful. Then you have some great moves to the upside. Now people are saying the value is down in the nines so we’re pointing out that it’s technically overvalued in the shorterm. People are asking should I buy now? From my perspective, the analysts haven’t changed their opinions. What’s important to note, this was a big fat downtrend in the backdrop. Let’s take a look at the weekly chart. We have a lot of movement down in the backdrop. In order to look at a fresh longside trade, at a minimum, I went to get back above this distribution and target here as well. Break above the distribution and target then we might have the opportunity for another runaway. If you notice, until these targets are broken, once we broke through this area, we’re able to get a run. Then target 2 held it down for a while. So, I’d like to see if at this point we can get above both the distribution bar and target 2 which is at 1282 as of right now for all the reasons we mentioned. Keep an eye open for those articles that we write on wealth365.com so you can follow along with those pieces of information.

As you’re looking to learn these different strategies, you can go to www.becomeabettertrader.com/go. We have a big class coming up next Wednesday at 1 p.m. ET/10 PT. We’re doing a nice class teaching you different strategies. It will be a nice follow up to the Wealth365 Summit and that two hour class I did for you. Make sure you go to www.becomeabettertrader.com/go. I look forward to seeing you there after the holiday. Take care!

The Market Failed At The Resistance Levels Rob Warned You About. So Now What?

Welcome back everyone! I want to make sure you catch up on the last several videos to see how we got to where we are at now. The market has been phenomenal.

I talked to you all about the negative divergence situation that we had in the stock indices. We also had distribution bars that were firing off on several markets. We were making higher highs in several of them, but lower highs in indicators. Between distribution bars in some markets and the others that were making distribution bars and negative divergences, there was a lot to be concerned about. I have warned you about this is my most recent videos. That is why I have done those videos on what you needed to be watching.

I want to break through the resistance, hold that, then take back off. I have taken some long side trades off of the reversals. I have been mostly shorting however, like today!

We talked about Goldman Sachs. Goldman and the rest of the markets launched some great buy signals at the end of December. I was done with the shorting at that time. I was then only focusing on long side trades. We pushed up, pulled back, pushed up again, then came a sell signal. I knew there was a buy signal that came back in. I didn’t like it though. I wanted to see Goldman Sachs get above the key area before I would like it.

The buys were buying, and the sells were selling. However, I needed to see it get above the sell side int eh uptrend before I was interested. This has been dead from my perspective. It failed to get above the resistance levels. The market is flailing as well.

I am currently looking for the moves on an intraday basis. Here the market got really wild. That is why I’m mostly done trading by 2:45 CT to avoid the risk arbitrage stuff. The market broke down below the zero line on the Trader Rescue Package. It had sell signals below the channel as well! It fired off buy signals after that and it led to a nice rally.

I had one of the psychological moments today. For about a minute I was looking for a trade to get me over $4,000. That was just me being a jerk. I don’t know what I was thinking because there wasn’t a trade there. I needed to ask why I should bother. You need to watch for those psychological demons to come in. The little piggy complex exists. That is where you try get every tick on every trade. I had to slapped myself today because of those things. I needed to say who cares.

It was a higher high in price and a lower low in indicators. There were some other nice buy signals. It ended up pushing up nicely from there. There were some buy side opportunities. There were also short side opportunities as well throughout the day. We were more in a bearish stance because we failed the resistance. I was more aggressive to the sell side. That led to some of the great profits here.

When we are failing the key resistance areas. I won’t look at things from a swing trading perspective. That is especially true for naked stock positions right now. Taking long side trades into that area when we are failing to get through resistance is a bad place to be from my perspective.

We have some rising support coming in. Will we hold the support? Will it start to recover from this with a small pullback? That could be great! The negative divergences, distribution bars, and the resistance make taking fresh longs dangerous to me. The best thing to do would be to ride the wave of opportunities on an intraday basis. That is where the real money is coming from in my trading.

You guys have a great night!

What An Incredible Trading Session! Here’s What You Need To Know

Welcome back everyone! This is the final day with the final mentorship group! This has been an awesome time with awesome trading. I want to continue with the fun tomorrow morning.

We had great support and resistance. There was all this rising support that we held. There was also resistance that was above. We had an outside type of situation. The highs and lows overshadows those levels. This is referred to as key reversals down. I want to see if the market can open up and push back down. That could be more encouraging to the short side.

I was focusing on the short and long side trades today. That is why it is so fun to be a trader. Some swing traders have to sit on the side line during this stuff. We are at a super critical point. There are just Doji Stars getting wider and wider. It is offering up lots of opportunities on an intraday basis. That is exactly what we were focused on today.

You can see a lot of different sell signals here. It was pushing down further too. There were also buy side signals pushing up as well. They were getting to target 2 and beyond. That led to some nice runs. There were great trades both to the long and short side today.

I also want to talk about some of the meat in the middle type entries. These really apply to day and swing traders because the charts are fractal. I want to see the same types of setups on day and swing trading charts. Tomorrow’s class is going to be very special.

I will be talking about a lot of these things. I had to rush through things at the Wealth365 Summit because I ran out of time. Now we are going to have the chance to go through all that. Go to www.becomeabettertrader.com/class now to sign up!

You guys all have a great night and I’ll see you all in the morning!

Long Side Trades Ruled The Day Again. Here’s How We’re Trading It Right Now.

Welcome back! We’re going to take a look at a handful of things. Let’s take a look at what’s hot and how we’re trading it. The big thing that we’re watching right now is the Nasdaq. It’s really important that everyone understands exactly where we’re at. We’re having multiple doji stars. Don’t get caught up in the lingo. All it means is a period of indecision. When we have buyers come in, we have sellers smack it down and vice versa. What’s happening is we have the long-term resistance levels. We still have to watch the Russell. It’s slowly coming up while we’re making progress on the other instruments. We have double doji stars and have the markets coiled up for more moves. The last time I said this was right before the big move on Friday. So, what we’re looking for is to see if we can repeat that process from last Friday on the Dow and the S&P in particular. The Nasdaq has been lagging a lot of issues and troubles so we want to see if that can resolve itself. We want it to get it above this long-term resistance above this 70/75 area. If we can get through this 7100 level on the Nasdaq and the 26000 number on the Dow. If we get through this 1590 area on the Russell then what happens is you have blue sky above. In the meantime, I’ve been focusing on long-side trades. I’ve been telling you since the end of December. Every day my focus is to look at long-side trades. If you’re going to do a swing trade, the only way to go is long keeping in mind your risk parameters.

Right now today the key things we’re focused on trading was the S&P, Crude Oil and you can see why. We had a lot of signals firing off to the upside. We had good trends up in the backdrop and firing off buy signals. Then there’s a nice continuation trades. In fact, continuation trades are something I’m going to be talking to you about on Friday at that special class that you’re all invited to as a follow up to the Wealth365 Summit. On Friday, I want to hit this with you again. There are lots of good trading opportunities like Inventory Retracement bars, Reverse IRBs, Gotcha Bars, Fish Hooks, Minis and different types of setups for continuations for these types of trades. It all starts with getting great entries and then looking for continuation entries and reentries. That’s why I continue to focus on long-side trades on the intraday basis.

Going into the next few days, I’m going to be looking to see which way do we break out of this consolidation. Do we fail at these resistance levels and look for aggressive sells or do we break out and have this rip roaring to the upside. On the intraday basis until we get down below the speed lines, I’m going to focus on longside trades. On a swing trade basis, it’s the same thing. I’m going to get more aggressive until we clear these resistance levels I’ve been telling you about.

I’ll be able to do more for you this Friday. I have so much more to share with you. It’s going to be at 10 a.m. CT/11 a.m. ET. Great time to be there. You’re not going to want to miss a minute of it. Go to www.becomeabettertrader.com/class.

We’ll look forward to seeing you at that very special event. Have a great night!

Long Side Trades Ruled The Day But What About The Bigger Picture? Here It Is.

Welcome back everyone! I have a special edition of tonight’s video for you. There is a great mentorship group here today!

We had a big fat Doji star back to back on the S&P. That is a period of indecision. We had a Doji star back to back on the DOW. That means the DOW and S&P and NASDAQ actually had those. All that means is that we are roughly equally off the highs and lows. We are just stuck in the middle.

We had some consolidation bars and that led to some great breakouts on Friday. Now we are hitting some major resistance on the NASDAQ. We are going to talk about that more in just a moment. I am going to be watching the RUSSELL, Goldman Sachs, and some of the key tech stocks.

You are going to notice we one of my Trader Rescue Package buy signals fire off. That went allowed us to have a really nice continuation to the upside. It hit target number one and two. That was after a consolidation as well. We like to see that as well. I also then look for it to pull back above. If it hits target two it could signal a continuation run. That was the exact strategy I was using today.

The preferred trade of choice at this time is to the long side from my perspective. We have the rising end of day basis here. We also have the rising support underneath as well. We ended up holding those. I would like to hold those going into tomorrow or have an early morning pull back that reverses and takes off. That is effectively another run along the lines of this. We are obviously going to have some Chinese and trade relation news. There are lot of things that can move the markets. The preferred trade of choice is long.

From an end of day basis, we still have some other things to watch. I told you about the NASDAQ. You saw that the NASDAQ is at key resistance. I want to show you something else that you can use here. You can go to www.wealth365.com to see these great tools. We want to avoid the ones that are around the 150 area. That is going to be just noise and much. I want to look for the ones pushing out of the range. Instead of being at the 150 level, NASDAQ fired off a buy signal in an uptrend. I want to see it break above sell signals for longs and fire off fresh buy signals. That is especially true when the numbers push above the 150 level on the WSI.

You can see that Netflix is doing really well here. I have pointed that out in the previous nightly videos as well. You can see that tool at www.wealth365.com. There are so many other features and articles here as well.

Amazon and Facebook are sitting around the 150 level. Facebook is just lackluster right now and doesn’t have the energy to continue. Amazon is just chopping back and forth. You can see why those two are around the 150 level. Netflix crawled out of that hole a while ago. You can see how the WSI numbers are an important piece to the process. That was an important tool that I wanted to share with you.

You can go to www.becomeabettertrader.com/class you can sign up for a free class. At the Wealth365 Summit I gave a 2 hour presentation. There were so many more things I wanted to share on that day. I didn’t have the chance to finish it all. We are going to be doing an extended encore this Friday morning. That is at 10:00 AM CT / 11:00 AM ET. I am going to be sharing several strategies for day and swing trading. That will really tie in nicely with some of the things I have been teaching you here. I want to make sure I can share some great strategies with you guys! You can sign up now at www.becomeabettertrader.com/class. That will be for both day and swing traders. There will be much more time to go over things that I couldn’t get to since I got cut off. This is going to be very special!

I look forward to seeing everyone at the end of the week!

Rob Hoffman’s Levels Being Tested Right Now And The Key Trade Ideas Around Them

Welcome back! There is so much to cover this evening. Let’s talk about both the swing trade and day trade side. First thing’s first, the market was testing this major resistance level to the tick on the S&P. Also, I told you in the last couple of videos the 25400 level. As of the time of this video, we’re at 25401 so you can’t get much closer than that. We still have the major resistance above us on the Nasdaq. I told you about the previous videos. The usage of the Russell as a guide. Mainstream media tends not to focus much on the Russell. What does that mean? It means typically that’s a good place to look. A lot of people just don’t know where to look. Getting guidance and ideas from the Russell can be very helpful. You’ll notice the Russell moved up yesterday despite the fact that the other markets pulled back. This was a tip-off going into today’s markets. When you can move a few thousand stocks, that’s something you want to pay attention to. Sure enough, that led to a nice rally today. What I want to let you know is three out four US Stock Indices are testing these major levels. The Russell is already pushing through these levels, which is great as long as it holds and takes back off. It can lead to massive rallies in the days to come. We’ll be watching that very closely. That can lead to some great swing trades and day trades.

Let’s talk about day trading and swing trading. First of all, on the day trading side. Walking in the door, you’ll see massive buy signals here. Right now, if you don’t have my ITP indicators, just know there were 30 or 40 different buy signals that fired off the hourly charts walking in the door today. What does that mean to us? It means we’ll be focusing on long-side trades. You can see we fired off Trader Rescue Package buy ideas here early this morning, got up to Target 2 and stalled out. We made a sell signal, but we know in an uptrend like we had on the hourly and 5 min chart, we break back above those sell signals in an uptrend, that’s a fresh buy signal. That also happened to coordinate with an actual fresh buy signal and off to the races it went right up to target number 2. Putting that into here, we had a major consolidation early in the morning and then we broke out to the upside, pulled back to rising support and kept taking off into the early afternoon. We had a three-wave pulse where we pushed up, pulled back and made an even higher high. Typically, we get one more push that makes a higher high in price but does not make a higher high in indications. That’s where we expect to back off. That’s how we trade that and that’s why I was focused on executing long-side trading in my Live Trading Room this morning.

Let’s switch gears over to the swing side. Basically, a couple things you need to know. One terrifying and one that’s kind of cool. First of all, the terrifying thing. You’ll notice we had a TRP buy the other day on TWTR. The market ended up going up the next several days then all of a sudden it crashed. We had a student who asked why it’s happening. There were indications in the buy side. The only reason is because this student forgot to look if earnings were coming out and that’s exactly what ended up happening. When you have a runup to earnings, even if they meet their earnings, they have to be way beyond good and be really stellar to keep on going. Otherwise, if they meet the expectations and if there’s any negativity, then people end up booking profits. This trader saw buy signals and forgot to look for earnings on sites that will give you the earnings in advance. The student took a good winning trade and turned it into a losing trade because they didn’t look at the earnings. That’s a huge no no. It’s got to be in the top 5 mistakes traders make. This is something that you need to watch out for. Don’t take any swing trades unless you know exactly where your earnings are going to be. For the average retail trader, the best thing to do is let the earnings come to pass and a few days later, when no one is talking about a stock and look for fresh moves in those stocks. A lot of people put out these great earnings plays but what you  don’t see is all the losses that they have with a lot of their earnings plays. They show you a couple winners. Understand that if you’re struggling with your trading, you should be checking for earnings.

Another thing to note when you’re looking for ideas, remember you have this free resource by going to www.wealth365.com. I’ve been telling you for weeks, the only type of trade we’re looking for is long-side trades. You can go back and look at the videos themselves. It was way back at the end of December, early January. I was looking for long-side trades only. In hindsight, you can see what I warned you about in foresight. It’s already off to the races and started my year to a great start. The quality of the information was solid and the long-side has been the right side to the upside. If you go to www.wealth365.com, you’ll see NFLX up at 300. This weekend, the website is going to be down on Sunday as they’re making massive upgrades to handle all the infrastructure due to growth. So many people are hitting the site throughout the day. Your load times will be much faster going into next week. Make sure you also check out the exclusive articles that you have taking place over here as well. With all that being said, NFLX is at a 300 and that’s a great thing. We look for long-side opportunities then we had a pull-back to the uptrend and we had a sell signal in an uptrend. It becomes a fresh buy signal. We had fresh resurgence buys as well. We’re holding above that stop point in the upper quarters, which is all great signs. We’re seeing what that’s meaning with the nice jumps in NFLX. We’re already making nicely with our first target again. The last time it fired off, it got not only to the first target and to the second target. It held there and took back off again. NFLX is doing really well and it all started because we got off that 150 area. You can also just click on here and see a whole list of different types of stocks that are meeting these criteria as well. Keep that in mind. A lot of great ideas can be found in there: www.wealth365.com.

We’ll look forward to seeing you in the upcoming trading events and videos. Have a great night!

How Rob Hoffman Profited With The Market’s Continued Failure At His Key Resistance Levels

Welcome back! Friday was an incredible trading day. As we kick off, first of all, I warned you about the resistance above several of the stock index futures. I even told you what the levels were for the Dow 25400 level. We opened up this morning and went ahead and pushed down and we had some wide-range volatility going back and forth then it cleared up into the afternoon and offered up long-side trading. To make a long story short, the bigger picture swing trade of things, that resistance that I told you about did in fact hold and led to overall to down drafts with basic recovery at the end of Friday afternoon. We’re still stuck below that key resistance when we’re all said and done. That meant watching out for fresh swing side trades given these massive resistance levels to the upside that have proven themselves to be important. The Dax continues to stay underwater at the close of Friday. Bringing it to an intraday basis is kind of a funny story. With the S&P, the market opened up numerous opportunities back and forth and what we talked about is when we have wide-range activity, we can trade these swings back and forth. With the buy and sell dots that I focus on. This is the trader rescue package of indicators. It’s very important from my perspective for new traders, small lot traders and struggling traders. What happens is it helps identify the entries, the stop losses and the targets. What you’ll notice is it did a great job because once again, we failed those resistance levels. We walked through the door after the US open and came right up here to the +50 area and of course that’s a no-no area for fresh longs. If you are long, that’s the area where you want to get out. We’re hitting target 2 hitting near that 50 level and got it out and got oversold and pushed back up. We hit target 1 and you get the point. Back and forth you get the point.

Then going into the afternoon, we really opened up here where it fired off the buyside. We fired off target 1, consolidated a little bit with rising support and fresh buy signals and breaking sell signals. If we’re breaking above sell signals then that’s a fresh buy. That led a nice move and then back off here when we get up above +50. There was one more run last minute. I did not achieve that. That being said a guy called me saying that he missed today because he was off at a trade show somewhere complaining that he was travelling and missing today’s trading. He was grumpy about going off to hotel rooms. I said that’s what’s so great about Wealth365. You can get all you need from the best speakers and still trade. He was sitting there jacked around and not learning what he needed to. I’m sitting there grossing several thousand dollars. That’s a little plug for Wealth365 which I’m heavily involved in and you can see why. It’s the place to be.

We’re trading the Nasdaq. It did the same here as it did on the S&P. In the afternoon it broke more to the upside. In the morning we had the moves on the S&P and the Nasdaq as you saw. We had both buy side and sell side. As we’re looking at the daily charts, we hit the resistance levels, it pulled away from them and we tried to put accumulation bars and we hit key supports now. The market is ricocheting back and forth and it’s great to find trade entries and resumptions. I taught you some of those opportunities during the Wealth365 Summit a few weeks ago. Whether you have these great tools of mine or not, I gave you great tools you can use without my indicators. That can be used with more advanced indicators as well. I taught you some of these strategies during the Wealth365 Summit. These are Inventory Retracement Bars. Breaking above these bars, gives fresh long-side trades. If you don’t know what those are, then I have my Institutional Trader Pack that points everything out for you with double dot green dot bars. You can look for reentiries as long as we have room to get to targets. It’s another great week of trading. It’s been a phenomenal first month plus now in 2019. I’m looking for a really great year. What you need to know is we are caught between support right underneath of us and this resistance that is right above us. Those are the resistance levels that I’ve given you the last several days. I warned you about those in advance and now they’re haunting people. If you’re looking on the swing trade side, we really want to get above the numbers I gave you the other day. Go back and catch up if you didn’t see that already and you also want to see if we hold those levels if we got long for some reason in advance of those resistance levels. That’s a bad place to take a fresh long. If for some reason we did, then you really want to hold these double accumulation right now. We have double accumulation bars back-to-back. We want to get above these speedlines. That’s the first thing to breathe a little easier. You’re not going to be excited and happy until we break above the major levels that I told you about. In the meantime, it’s back to being a trader’s market but there’s still a lot of opportunities for people as well as you can see going into the afternoon.

With that being said, you have a great weekend and keep in mind some of the other levels I gave you on Goldman Sachs that is still in play. We fell back with the sell signal on target 1 but we’re still in the big picture to get back above that high. Same thing with NFLX, we’re going ahead and trying to hold this black line but you have to get above that 360 level which is above a distribution level.

Have a great weekend and see you in next week’s sessions! Thanks for being the world’s greatest students!