Market Strategies We’re Using At These Key Levels In The Stock Market

Welcome back everyone! Let’s take a look at some key things that I am thinking about right now.

I have been primarily focusing on several short side trades over the last couple days. That has worked out famously in my Live Trading Room. We are looking at a market that is at a key inflection point. We have accumulation bars on the NASDAQ, and DOW. We bounced off key support on the RUSSELL, and S&P. All of these saw buying today at or near key levels.

We are bouncing off rising weekly support on Amazon. We also bounced off key daily support that held us back several weeks ago. This is why I am not willing to do any swing shorts. We are also right in the middle of earnings season. That can be very painful going through any type of trade if you aren’t well positioned. Bad things can happen really fast. That leaves better options in the day trades. We are also looking for the bigger picture. I want to see if we can break down from those key supports. Otherwise is this market going to hit key support levels just to propel again? Right now I am focusing on intraday trading. It was mostly to the short side. If this turns around and heads back up off these support levels I will look for some short term longs. Nothing is really swing trade material in my own opinion. This market has to solve itself. It is really coiling up. We are really looking for a bigger move out of this area.

Notice how we had some beautiful trending on the NASDAQ? Every time it hit the key support it would bounce off it again. We finally took some hard hits. We made one higher high that ended up making a negative divergence in the markets. We are now hitting up this resistance area. We are getting tighter and tighter again. We are due for another big move out of this area though. Are we going to break up and start the process again? Are we going to break down and roll over to see lower lows? Those are the questions I am asking.

Those are some of the key strategies that I am using right now until we can get some directional bias. You guys all have a great night and I look forward to seeing you in the Live Trading Room or in tomorrow night’s videos.

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

Rob’s Additional Thoughts After This Morning’s 450 Point Drop

Welcome back Gang. This is an exciting intraday video for you today.  This is a really nice follow up from the videos from yesterday. Yesterday we told you how specifically we were looking for inside activity and looking for breakouts from that area. We either need to get back above the speed lines, or we need to break down below these accumulation bars and that would lead to some really nice selling.

What ended up happening here was you see three out of four did break down below. What was nice is that we were able to use the Russel as a guide here this morning. The Russel was actually pushed up quite a bit this morning while the others were actually down. So I said when that Russel starts coming down that’s it “Ding Dong the witch is dead” and short sitting and sure enough that is exactly what happened and that ties in very well with what we shared with you in last night’s videos as well about Apple. I shared my thoughts about Apple and the 200 day moving average along with the accumulation. This also ties in with breaking down below the accumulation. On the intraday basis look at what that did to the NASDAQ. It allowed me to fire off around five different trades this morning in the live trading room with people right on the screen in front of them which is really phenomenal.

So it is taking the end of the day analysis that we shared with the key breakout and break down levels that we were looking for and we broke down and then that allowed the levels if you recall from the last Wealth365 event as I taught you a little bit about how I looked to trade those looking to identify the trend, we talked about the stochastic spikes here and of course there were a host of other things as you can see my indicators and pretty much everything on the screen was blood red there leaning to phenomenal short side trades and opportunities. There was really great stuff this morning and putting everything together for you and now I am going to get back to it and see if we can hold below some of these key levels going into the afternoon. This is why it is so important that you understand these different levels that I share with you about break outs and break downs because they can really get these markets going. Now what I want to see is if we can hold below the 24100 area in the Dow, break down 6514 area on the NASDAQ, see if the Russel can start getting down through 1555 area, and see if we can stay below the  2647 on the S&P. If those things continue to happen going into the afternoon and if I get fresh sell signals and I will look for fresh sells as long as we stay below those levels and see if we can add onto the great gains from this morning. So you guys have a great night and I look forward to seeing you in the live trading room tomorrow morning or the upcoming videos. Take care everyone and have a great night!

Rob Reviews Several Markets And Apple’s Key Level Of Concern Tonight

Welcome back! The NASDAQ, DOW, and S&P were all inside bars. Today’s low was higher than yesterday’s low. A little later in the session we did finally break down below the lows a little more. That led to some very short term shorts. We are holding on for dear life here. We are still inside the channels.

I want to see if we can break down below today’s lows. Those have room to grow to the downside. They are also going to break below the inventory retracement bars. Those are also the accumulation type. If we break down below those channels, it could be very bearish. That could lead to some short term short opportunities.

The long could be tougher tomorrow. I would like to be above the daily speed lines. Those are the ones in pink here. We will watching that closely.

Anything in between those areas will be trading range stuff. It won’t be much of a swing trading opportunity.

We are still holding on for dear life at the 200 day moving average on Apple. If the NASDAQ and Apple start breaking down that could be very bearish. That is fine from my perspective. We can end up having it both ways! I would be more excited if we broke down below the 163 area on Apple. Those are a couple key levels to watch for tomorrow!  I want to see if we can get this rolling to the downside.

The $70 level is still the level to beat on Crude Oil. I have been warning you all about Gold. It is just a mess! It continues to be that mess. We cannot break through the 1360 resistance level. We are rolling back down once again into no trader’s land.

Amazon is struggling to follow through. There is a lot of resistance up here. There is a distribution bar at 1600. I won’t be looking for any longs till we get to the highs from last week.

Netflix is in a similar situation. We hit some similar highs. We pushed slightly above, pulled back, and rolled back in deeper. That is why it is so important to have the confirming breaks that I share with you guys.

Telsa is struggling once again in a precarious position. It is set to go down to around the 250 area. As long as we stay below the 300 level, I will stick to short side or no trades.

You guys all have a great night and I look forward to seeing everyone tomorrow morning!

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

Rob Reviews Several Markets And Apple This Weekend

Welcome back everybody! Let’s take a look at a handful of instruments tonight. Let’s start out with the Bonds. Bonds are at a key juncture here as you can see. Basically 2018 we’ve been testing and re-testing these key areas since we locked in an accumulation bar back in February and re-tested it back in March. We’re very close to retesting that area again. If we break this area to the downside and turn that into resistance, we could see potentially much lower prices for bonds.

As far as gold is concerned, I’ve been talking to you about how gold has been dead to me for a while. I’ve been mentioning it the last few months. It’s a short-term traders market and not the kind of thing I want to sit it on. You’ll see the 1360 level – it’s a very important level. Back last week we had a quick pop up above and it’s really the close that’s more important. Instead of breaking out, pulling above 1360, holding it, then taking off, we are showing that the level is still major resistance. We want to see that become key support. I really want to get above the $70 level, show it is support, and then hopefully see higher prices. I told you about this about the 50 level. 70 is now the number to beat!

We will tie Apple in with today’s conversation. We either had to break above these key resistance levels. It was a distribution bar on the S&P, RUSSELL, and DOW. Otherwise we would have to break through the highs on the NASDAQ. Those are the key levels for the upside moves. If we pushed down below the speed lines, then we would be very focused on shorts. Today we saw stocks like Apple under pressure. That led to a cornucopia of excitement and fun to the downside. You can see that my indicators were firing off like crazy. We were focusing and taking multiple trades short side. This ties in what I have been sharing with you during the day. I want to try to tie into what we are actually doing.

Apple is sitting at a key long term support level. We are sitting at the midpoint of the channel. That is a very important channel that Apple has adhered to for quite some time. You will notice that we are getting top heavy here. Statistically speaking, the market then is like the skipping rock theory. It just will end up getting lower, lower, and lower before the rock sinks. I am watching Apple in this area. If we start breaking down below the 165 area, and make that resistance, we could be right back testing the 150 level all over again. That is a key area to be watching right now. For those of us who love trading we can do it either way! We had a lot of fun to the short side today. We could have more fun if Apple does break down.

You guys have a phenomenal night. I look forward to seeing you guys in the Live Trading Room or tomorrow night’s videos.

Here Are The Key Markets And Levels Rob Is Watching The Rest Of The Session

Welcome back gang! Let’s take a look at a couple things. First, let’s take a look at crude oil. Crude oil right now which has recently moved over into the M contract is sideways and technically damaged. We also locked in some distribution up above. So this morning I was very skeptical when we popped up to the 6930 area. I know it was an area that got retail traders very captivated here. But basically we are sideways technically damaged on the five minute chart, two minute chart, and fifteen minute chart. We basically have been spending the last several hours sideways. It keeps popping up and dipping back down and vice versa. The reality is I am very skeptical. This morning I said in order to take a long side trade here I need it to pop up near the 6920 and pull back and hold at the 69 area and start to take back off. It actually dropped down near 6880 which is bad sign because now as it trying to recapture the 6900 and above area it is using all of its rocket fuel to end up in the same resistance area it was in the beginning. That is a retail trader’s trap and it comes back down.  What I really want to see here in order to actually get long is to push through that 69 and pull back and hold at 69 and start to take back off again before a long side trade.

With the stock indices right now what we have is a situation where we have a split decision going on. Right this moment we have the rising speed lines on the daily charts. We really need to get through those if we really want to get short. The high probability of short side trades is when we get back down below those speed lines. So that is on the end of day basis. You want to know where each of these red levels are 2690 on the S& P, 1573 area on the Russel, 24628 the DOW, and 6754 for the NASDAQ. We really want to get down below the levels to get aggressive on the short side especially on intraday basis. You still have key rising support levels just about the point we are at. That is why we have had some bad bounces which absolute destroy retail traders. We really need to get through those speed lines and those key levels going into the afternoon session if we really want to focus on getting aggressive for long side trades. Otherwise the risk is we get a hard bounce like we saw multiple times this morning which blows us out of the trade if we took an overly aggressive short. We did not go ahead and do that but that is what will happen to somebody if they end up in that situation. These key levels are really important for this afternoons sessions.

From a long side perspective we really want to get above yesterdays and today’s high in the NASDAQ, the distribution highs from the last two days in the Dow, yesterday’s distribution bar high on the Russel, and the high on the distribution bar on the S&P. So these highs from yesterday are the levels to beat and to look for regarding long side trades. We have very well defined short and long side areas going into the afternoon.

Don’t forget about Hubert Seneter’s VIP session this evening. The tickets are all sold out but if you sign up for the Wealth365 VIP membership you will get access to those VIP sessions including Hubert’s as well as mine coming up soon. The membership also allows you to access courses, training, videos, tutorials and much more! Go to www.wealth365.com/member to sign up and get access. We will see you tonight at Hubert’s event and mine in the near future. Have a great night and we will see you this evening!

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

 

Today’s Range Says There Is A Big Market Move Ahead

Welcome back everyone! This is important information for you guys to see because it will affect my day and swing trading thoughts for the upcoming days.

The situation has remained the same for the past couple hours. We have an inside bar on the NASDAQ, DOW, RUSSELL, and S&P. That means that today’s high is lower than yesterday’s high. It also means today’s low is lower than yesterday’s low. We are still in that condition hours later. This is the tightest day in the NASDAQ in over a month. These are the coiled springs. There are inside bars coiling up.

We are going to be looking to see if we can break out of the previous day’s highs. I also would want to see if we can break down below Friday’s lows. That would be nice because we would be below the speed lines as well. If we break out to the upside we would still have a band of resistance. The RUSSELL has a lot of air up there. It could be very exciting if we could break through the highs from last Thursday and Friday. We don’t care which way it goes, we just want it to get going. This would affect our day and swing trades accordingly. That could lead some very high energy movement. Once people start seeing a freight train going, it could get going very fast.

Those are the keys for the next couple days. We will be focusing on some other things in the days to come. You guys have a great night and I look forward to seeing you all in the Live Trading Room or in tomorrow night’s videos.

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

Here’s A Special Intraday Trading Video Update From Rob, Check It Out Now!

Welcome back gang. This is going to be a quick intraday video update so the opposite of last night’s video. We are going to get a clear concise video out for you this morning.

Here is what we are looking for. We are more focusing on long side trades, executed long side trades, and making money on long side trades. While going into the afternoon this is the key points.

Where we are at right now the NASDAQ is at the key falling speed lines. The Russell is at the key falling speed line as well as the S&P. So what happened here was that the markets held the 200 period moving average supports this morning. The Russel held the 200 day as well. If we get above these speed lines we could actually see a reversion back to the mean, which could lead to some awesome opportunities.

So going into the afternoon, I want to see the Russel to continue to power higher and breach the 15200 level  at this point because of the fact that is where we got up to this morning. The NASDAQ got up to the 64800 area. So if we could break those levels 6480 on the NASDAQ and 1520 on the Russel that gives us our highest probability opportunity for continuation of the upside in all of the stock indices.  In addition, it pushed crude oil up as well. The bottom line is that going into the afternoon my favorite trade is not going to try to short this to the downside. I am probably going to step aside because I do not want to be in a situation like this where I start shortening into rising support and then get my head chopped off. That is called counter trend trading and it does not end well for most traders. I prefer to look for the next long side trading opportunity.  I will be watching the Russel very closely to see if we can pierce that 1520 area that I told you about a little bit ago. Then I will look for long side trades in the S&P and the NASDAQ depending on the size I am trading. The favored trade going into the afternoon would be for these to start to spike up. That’s the path least resistant, shorting the rise in support on the way back down does not make the most sense.

Also, just a quick update if you have not already downloaded the Wealth365 app I am told that a couple of the big prizes, like even some of my $8,500 prizes are going to be given through the  Wealth365 app. The app is located at the bottom of the page on the www.wealth365.com page and can be downloaded for Apple or Android. In addition, if you have not signed up for the summit yet please go to www.wealth365.com/bbt and get signed up for that so you can learn more about these same strategies I am using to trade like this morning. We will see you tomorrow morning and next week during the summit. I look forward to seeing who the six winners are going to be for my $8,500 prizes. We will see you guys shortly and don’t forget to download the app to be able to get those prizes.

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

Major Stock Market Crossroads Are Being Hit Right Now. What You Need To Know Now

Welcome back everyone! Let’s take a look at a whole bunch of things today.

First, I go to www.wealth365.com in the morning. You will see an indicator up top. My code is a part of that indicator. There was a whole bunch of code that went into that indicator. That gives me a mental picture of the markets. I can click into it and take a deeper look into it. I can compare ones that are extremely up, or flat, or down. A lot of the stuff is either flat or down. The list goes a long way. This helps me realize what to focus on in the morning.

I focused on that exactly this morning. Small lot traders chased it this morning. I was focusing more on letting it pull back first, then creating fresh signals next.  All the indicators were blood red. It was just phenomenal! I did several 1 lot trades today. Yesterday it was the exact same thing. The market had all of the great sell signals too.

Right now we are at a major cross roads. We are holding on to the 200 day moving average by a thread. That is important to understand! In 2016 we couldn’t even stay down for more than a day below the 200 day moving average. I want to see if we come up, hit that level, and start to roll back over. That could be the death of the market! People might watch their 401ks start to shrink. We held the line in late 2016 as well. We dipped below and came right back above it.

Everybody is watching these levels. All the institutionals are watching these levels too. We did bounce above the 200 level again. However, we are not thudding. Are we going to have a skipping rock theory type issue? We had big bounces early on, followed by smaller bounces. I don’t really care which way it goes. Crude Oil goes up all the time! People just pay at the pump and it hurts. If they could trade, they could trade it long and possibly make some money. There are ways to hedge what is happening with the economy.

We are holding on for dear life at the 200 day moving average right now. This isn’t just about the S&P. We have rising support and falling resistance on the S&P, RUSSELL, DOW, and NASDAQ. All the U.S. markets have that rising support and falling resistance. I am watching two things clearly right now. Do we break back above the speed lines? We could revert back to the mean if that happens. It could also lead to long side trading in the short term. Do we break down below the 200 day moving averages? That would finally make them resistance for real. We would see much darker days ahead. That would be not so great for 1 trick ponies that only can go long.

We are going to be watching that very closely. We are at a key cross roads between the falling resistance and the 200 day moving average!

Despite all that we have seen, Gold is still not a great buy from my perspective. We are still looking at months of sideways activities. When it gets over sold, it pops up. It is just chewing back and forth through the channel. That is just a bad place to be. We are seeing that on a daily and weekly basis. Until we can start to break through the 1360 level, this market it not really poised to go anywhere. A lot of times you can be sitting on dead money in Gold. That is not really what I want to do right now. I want to keep that money working. Gold is not a buy despite the pressure we are under now. That I just my own opinion.

I understand that the President is getting credit for putting Amazon under pressure. I have talked about this with you guys previously. We had the 1600 dollar mark here. We locked in a distribution bar followed by another distribution bar the week after. There is some double Dutch distribution up there. That was before President Trump started laying into Amazon. Was it President Trump? Was is that the market was due for this anyway? I think it has more to do with the fact that this market was due for a pull back. We are in the same situation as the market as a whole. We have these rising support levels underneath us. This 1350 area is going to be a key area. I am looking to see if we can break down below that. We could easily see 1300 or lower with that. If it, and the overall markets hold, we could be right back up into the 1500 quickly. This is why I use the overall markets as a guide. If the markets start to take back off on the NASDAQ, Amazon would likely have the retracement of 1500 plus that we talked about.

There are a bunch of privacy issues with Facebook. I sometimes feel that I am the only who isn’t shocked by this. Facebook has been mining our data for years. The extent of the data mining might be surprising to some. They pretty much track your whole life! Virtually all of Facebook’s revenue comes from advertising dollars. Facebook won’t be as exciting and useful if some of the tools they use are taking away. That could be a major problem. Facebook was due for a retracement. I was talking about accumulation bars for a while here. Do we break down below, rally to, and fail? Nobody should be surprised by the last $15 worth of drop on this. The 200 day moving average is now a resistance level as well. The 150 mark is the real question right now. That is the level to watch. You have accumulation coming in over here and there. Those are key levels. If we break down below that, then Facebook is likely to have some more heartburn on its hands.

 

Make sure you all check out the WSI tool at www.wealth365.com. You can sign up for my event by going to www.wealth365.com/bbt! I have never done this before! There are over $120,000 worth of prizes. You can click the prizes tab at the top of summit.wealth365.com. You will see all the prizes that will be given out throughout the week. There will be prizes every hour. I am giving away 6 Pro Trader Development Courses and 6 Professional Package of Indicators. There are also so many other things being given away. There are over a several thousand dollars’ worth of prizes in all things wealth. Go to www.wealth365.com/bbt to sign up through my link! Have fun at that and I will see you in tomorrow night’s videos or in the Live Trading Room.

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

Will People Watch Their 401k’s Become 301k and 201k’s With This Market Volatility

Welcome back everyone!

Amazon is back in the 1500 level. I was hoping that level could become rising support. We never made that level support. We are right back down to 1500. This is a critical area for Amazon. If we break too much lower it could open up the flood gates for more selling. This level is extremely important.

You know that the 175 level has been an area of importance with AAPL. We just cannot get the traction to get above and stay above it. It continues to struggle around that area. That was right around the high of today. There are no fresh longs from my perspective. That is until we get above the 175 level. That could of course come with risk.

Watch out for Netflix. We are at a key 300 level. They have been spending a lot to get programming on their shows. That might be a controversial statement for some. We have Netflix as a family. They are spending a lot to get that programming. We have to take a look at how much spending that they are doing versus the subscribership.  We bounced off of that 300 level the other day. That is a critical level for this stock. This is a monstrosity of a support level. We could quickly sink to the 250 area. I will be watching the 300 level very closely.

Facebook is under pressure! The bottom line is that Facebook makes most of its money from advertising. Almost all of their money is from advertising. If that is the case, there is a problem here if legislation starts to restrict the using of data that they have accumulated. We are coming up on the 150 level. We briefly bounced off of it. That is the round number support. If we break below that level we could see much lower prices. We could see below 136 or lower.

If you have access to my Premium Daily Videos, you know that I put out a trade alert this morning. I did a lot of trades in front of people today. I knew that there was more to come. I wanted to get that message out to all of my alert subscribers as well. If you are a member go check it out!

It all started with some great sell signals early. The sell signals kept coming back over and over again. The short term buy signals were quickly pushed back through. They aren’t really buy signals in a down trend.

We basically took back all of the gains from yesterday. That is what we call equal and opposite. We have had several of those back to back. We are looking to see continuation. The most favored trade for me is a short. That is someone who is willing to short aggressively. The market tends to walk the stairs up, and ride the elevator down. That is where the biggest and fasted gains will come for me. I would love for us to break down below the lowest lows. Those would also tie in with some long term support levels. There is long term support in the RUSSELL, DOW, and NASDAQ. Let’s break down below those areas to get the party started.

That is for people who aren’t active traders and investors.  We are going to focus on that. I realize the challenge will be the W patterns that we locked in on the stochastics. The next day after a pattern like this is often up. I hope that this will open up, have a small up bar, then drive to the down side. We had something like that earlier. It smacked into the resistance and went off to the races. I am going to be focusing on that.

Don’t forget that I have a really phenomenal presentation at the upcoming Wealth365 event. I may even change it up even more based on the needs of the summit. It is an incredible lineup of speakers. You have legends like Ralph Acampora, James Rosebush, Toni Turner, Rick, Scott and many more. There are so many guys in the Real Estate IRA side. It will be all things wealth! There is even a guy who will be talking about AirBNB and something like that about RVs. I am excited to be partnered with it. I am looking forward to seeing you guys there as well.

Go to www.wealth365.com/bbt to get signed up. I am also donating several thousands of dollars of prizes. They will be giving those prizes out all year long. There are a lot of people giving out 1-5 thousand dollars’ worth of prizes. That will be really exciting!

You guys have a great night and I look forward to seeing you guys in tomorrow night’s videos!

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