A Picture Perfect Sell-Off In The Market. The Days You Live For!

Welcome back everyone! Was this an exciting day in the market today!

Let’s start with the facts from yesterday. We had distribution on four out of the five instruments. All the U.S. instruments had distribution after yesterday’s gap up. That was all pre-determined because the market had all weekend to absorb the news.

We had to get the RUSSELL above the channel and fallen resistance. We also had to get above the high on the NASDAQ. We just wanted to break above the inventory retracement bars on the other instruments. That good news gap was just used to sell. That is why we just wanted to focus on those distribution bars so potently. We were hoping to see if we could get above the highs. There is a lot more air up above if we were able to get above those.

We realized that the RUSSELL was much weaker than the other instruments since walking in the door. It was all about this level. We were right at the edge of the abyss. That was the 1524 area. I said that if we start breaking down through that, it could be a great opportunity.

If you guys have been coming to the special classes, go watch the replay. It will be up till tomorrow. We talked about Goldman Sachs repeatedly. I have been very bearish on Goldman Sachs. The 245 mark was a huge deal. We locked in a distribution bar there. We held the channel an off the races it went. It fired off multiple sell signals on weekly charts. I told you all that we had already made it to the number 2 target. Today’s push down helped us achieve target number 2.

We ended up firing off a sell signal. We were then consolidating. I said that if we broke down it could lead to a great trading opportunity. I also told you that if we broke down through target 2 that I will look for big moves. That same training I gave you in advance several times last week actually happened once again today. The market broke down through that and the air was let out of the tire. That was great for my profitability. It has been a great several days that I have been using. I wanted to show you how I have been using them.

I wanted to talk about how I have been capping off profits before the mourning close tomorrow for President George H.W. Bush. What a way to go into tomorrow’s day. I know that I am already set and that I can take a look into Thursday with a fresh mind. You can see the sell signals fired off and broke down through target 2 and was off to the races. It also fired off another sell signal here as well.

This is putting all the important things together. I have been talking about these strategies with these daily charts. I have talked to you about Goldman Sachs and key support and resistance levels. I explained how those could go right back into being sells. The video explaining this was sent to all of you. Make sure you watch this video right now. Whether it was Goldman Sachs or prepping for days like today, all those things came to fruition. Go to www.traderrescue.com and sign up right away!

Have a great night!

Great Live Trading Today. So Now What Actions Do We Take And What To Watch Next?

Welcome back everyone! Thank you all for spending several wonderful days with us last week and into the weekend. There are more strategies and setups going on.

We had good news all weekend long. We heard about President Trump’s and China’s news about pausing the trading acts. Spending is the top word of the moment. It is a delayed reaction if things don’t get better.

We heard about this good news all weekend long. Everyone always knows the good news. It is much harder to get a runway. It is not like right before the U.S. Open a big great piece of news comes and not as many people hear about it. The market then gaps up and there could be a runaway gap up with that.

There are a couple key things that we will be watching. We are at major resistance levels on a couple of the key indices. The S&P is right at the 2817 major resistance levels. The 1564 area is major on the RUSSELL. We are right up there at the 7100 area on the NASDAQ. From 7093 and 7100 I will be very suspect. Only the DOW has managed to do anything now. The 26000 level is a major resistance level still. We are not pushing through it, pulling back to it, and taking back off. I would really like to see that on the DOW.

This is all coming from the positive divergence stuff that I was telling you. That is where we were looking for the pullback. The channels on several of the indices are causing us grief. We are still not able to break key resistance levels on the channels. That is what we are going to be watching next to see if we can have some more fun.

This day was a story of intraday trading. The market was basically going back and forth. I was looking for selloffs when the market had been going down. I wanted those fresh sell signals. Those could lead to some quick spikes to the downside. There was a really nice positive divergence. Target 1 and 2 were achieved there as well. All this back and forth led to some very good trading. I grossed about 1000 there. That is just great because that is another 1000 dollars gross. I told you that I would show you what I am doing with the trading rescue package. I wanted to show you all live with real money.

Another thing that came with our Market Monday class was around NVIDIA. We fired of sell signals quite some time ago. One of our student viewers asked if I should sell it or get out now. You can all see the sell signals with the trader rescue package. The initial and secondary targets were there. I said that if we got through that target to look for a whoosh. It dropped a lot once it broke through that runaway zone.

We potentially might have a little push up right now. We had actually had sell signals back in October. All of November was basically a big sell down to target number 2. We didn’t get the runaway to the downside at that point. It hit targets one and two, had sell signals since that, and dropped roughly 80 dollars since those things happened in the month of November.

Now people are asking me about selling it. The sell signals were way up above. It was even higher here on the monthly chart. It was there from an investment perspective and swing trading perspective. There were lots of indications there. The monthly chart is still rallying. If it going to have any sort of bounce, here’s where it would happen. If this market pushes through this 147 area, It could have much deeper problems.

If you are selling, you are supposed to sell where the sell signals are. You can see warnings were way up there in the upper 240s on a weekly chart. The monthly still was in the 200s. This had quite a run from there. There was around 100 dollars plus to the downside after the sell signal. If I woke up out of a coma and missed these sell signals, I would want to see if the monthly could hold.

If you haven’t already done so go to www.traderrescue.com because we are in the last couple days to get this Trader Rescue Package at the greatly reduced price. You will see that on the website. There are so many bonuses that come with that. Get signed up right away!

Here We Go Again In The Market. Another Critical Support Level Being Tested.

Welcome back everyone! Let’s take a look at several things tonight. We will discuss different stocks and the market as a whole.

We weren’t able to get what I was looking for today. We couldn’t get above the 69 level today. It briefly got above that, pulled back, and didn’t take off again. That could’ve led to some great long side trading opportunities. The RUSSELL has been pretty sleepy as well.

I want to see this break above the highs on the NASDAQ and RUSSELL. At the same time it would need to get above the falling resistance since we set new levels today. The volume will likely dry up heading into the holiday. Some news could lead to some wild swings. If we start breaking down below the lows going into Monday, I will see that as a short opportunity. I will be very quickly monitoring my stops. We still have some big distribution bars on several of the key indices. There is just major support below on those. We held on the NASDAQ and bounced back up. We still have one or more institutions driving this back up. There isn’t any proof that they are done. I am going to be cautious if we get down in that area to make sure there isn’t another major spike coming.

Goldman Sachs is really on my mind right now. If you have been following my videos you know that I have been warning you all about Goldman Sachs. I have been watching the 240 – 245 levels. We sure enough held that resistance. It could not retest those highs. It just died a horrible death. We have come all the way down to 200 dollars. That is around 45 bucks since we were talking about Goldman Sachs. I said that I was watching the levels to see if it got the break. It just didn’t.

We are at psychological round number support around 200 dollars. We are also testing the weekly 200 day moving averages. Will we immediately spike above the 210 level next week? That could set up plunge protection teams to kick in. Otherwise will this 210 level become resistance and we break down below 200? That could imply there might be lower prices than that in the market.

I have been telling you all for month after month that we have had major emphasis on Goldman Sachs. I’ve been saying watch out because it keeps failing. The market has been under pressure as well. For now, the magic level for me is the 200 level. The answer to that questions might tell me more about the directional opportunities in the markets.

Amazon is another key one that is struggling right now. It broke through the 200 day moving average and it is trying to make it resistance. There is a really strong area of resistance. Long side trades could be very dangerous at this point. There is a big fat accumulation bar on a weekly basis. That is just a key support area. If it fails to hold that Amazon could see much lower prices.

That is a common thing with some of the FANG Stocks. Facebook has been going lower and lower. It is hitting the key resistance levels and rolling over. It better hold the 200 week resistance or this could spell significant trouble for the FANG Stocks.

Netflix broke down, rallied back up to resistance, and pulled away. It also has a big fat accumulation bar. It is a real do or die area. If the FANG stocks and Goldman Sachs are like this the market could find massive rallies or start gearing up for big sell offs. Make sure you stay tuned because there could be some great trading opportunities to come from this. I have given you some of the areas that I am watching on some of the key FANG stocks and Goldman Sachs. That hopefully will give me some directional insights as well. I look forward to seeing you in the upcoming videos.

An Important Strategy Video To End The Trading Week Strong

Let’s take a look at a couple very important things. I have been telling you for weeks that unless we get above the channel on the four indices this means nothing. I told you that in yesterday’s video. We are now trying to cross through the bottom end of the channel on the NASDAQ. We hit the top end of the channel on the S&P. Now it is quickly making its way to the bottom of the channel. The DOW didn’t have two consecutive closed down below it. It also didn’t come back down to the channel to test it and take back off.

This is exactly what I have been telling you about. I have been saying that the initial rally doesn’t mean anything to me until we break above the channel. We sure enough broke down for a deeper correction. We are actually back out of the channels on some of these instruments as well.I was focusing on short side trades this morning. I kept getting fresh sell signals after fresh sell signals. The 1555 area is an important place to take note of on the RUSSELL. It has been a major support area all morning. That ties in with the bottom end of the support on the daily chart. We kept hitting it and bouncing off of it. Now it dipped a few ticks below.

I am going to see if we can take that 1555 level and make it resistance. That could lead to an afternoon selloff. That is the only type of trade that I’m interested heading into this Friday afternoon. If 1555 becomes a major resistance level, I would be interested in shorting the S&P and NASDAQ. I really want to see us start peeling away on what has been support. Let’s get a nice afternoon selloff.

I always say so goes Goldman Sachs, so goes the markets. We are down around 1.3% this morning on Goldman and 2.7% plus on Citi Bank. We don’t really have a mixed market condition. We have the whole market going on in unison. I am only interested in short side or bust. I don’t really want to take fresh longs into falling resistance heading into a Friday afternoon.

If we get above 1555 I am going to be backing off of shorts. This is a nice addition to the other videos that I have made for you showing these key resistance levels. They continue to be resistance. The DOW has even pierced resistance. The other ones are outside or at the bottom of the channels. Everything that I have been saying with that analysis has been dead on.

You guys have a great weekend!

A Key Update To Yesterday’s Video Ahead Of The Fed Announcement

Welcome back everyone! There were really tight ranges today. We did get the pullback that I warned you about yesterday. We so far today only got a shallow one. The main issue of the day is going to be FOMC. They are expected to hold the rates today and not continue on with the rate increase. There are a lot of uncertainties going on right now. The market has been giving its own hair cut. We don’t really need the FOMC to step in and do it again in my opinion. It could be a surprise that they come out and raise the rates again today. I am going to keep a close eye on that.

The real key is if we can get above and stay above the key levels. The DOW is still performing very well. The RUSSELL is still at the midpoint of the channel. The S&P and DOW are the strongest. That is great. The NASDAQ and RUSSELL are not cooperating. If this is a true market rally we will need them to break through the top side of the channels.

I will also be watching Goldman Sachs. It has been doing a good job of trying to get above. It is barley holding on to the top part of the channel. I always say so goes Goldman Sachs so goes the markets. We are getting accumulation and distribution back to back. There are several Doji Stars as well. It is far from determined yet. We will also need to watch the weekly resistance here.

Citi Group is struggling a little bit more. The weekly charts are near the bottom end of the channel. The daily chart is still underneath the top part of the channel. It is closer to the midpoint of the channel.

Some of these key financial stocks are not going along completely with the party yet. Two of the four U.S. Stock Indices are not coming with it either. We need to get through the FOMC. I want to see us get through the key levels on the RUSSELL and NASDAQ to keep driving this party higher. I will also be watching Goldman Sachs.

Those will be the key things that I will be watching. I look forward to seeing you all in tomorrow night’s videos or in tomorrow’s live trading room.

Here’s What To Focus On If You’re Serious About Buy Side Trades

Welcome back everyone! Let’s take a look at some key things you need to know about today’s surge.

Hopefully no one was short on the Stock Indices today. It was buy side all day today. The hourly, 15, 5, and 2 minute charts were all buy today. This was all after the elections last night.

What will come next? This will be a nice continuation from what I have shared with you before. We are at the top end of the channel on the S&P, the midpoint of the channel on the RUSSELL, above the channel on the DOW, and the bottom end of the channel on the NASDAQ and DAX. Only the DOW has been getting above that channel. The important part to that is we need ot get above and stay above.

These other Stock indices need to get above the channels as well. This is particularly true for the domestic ones at a minimum. We need to push above them, pull back, hold the channels, and then take back off again. I want to see that this massive resistance that has been here for the past several weeks is now support. That is basically what I am looking for. That would send me green lights for some bigger replacement trades.

There was a wonderful one day rally today. There were a lot of overbought conditions on many charts. The market could have a little pause tomorrow. That is usually what happens. That is fine as long as we start to resurge again. Obviously we would want to get above the channels. It is really all about the channels at this time. These different levels are going to be the ones that you are going to want to watch. That is my story and theme for the next couple of days.

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

The Trading Kill Zone And The Election. Two Nightmares For The Uninformed.

Welcome back everyone! I hope you all had a fantastic trading week!

The kill zone is still in full effect. We had the kill zone back there before. I wanted to see a break out and break down from that. We did break down from that and it led to some phenomenal trading. We are now back in the kill zone with the rising speed lines and the falling resistance. We are even seeing that on the DAX. We also see that on the NASDAQ, the DOW, the RUSSELL, and the S&P. You will notice we hit some of the key resistance levels. We ended up bouncing right off them to the downside. The kill zone is a ricochet market that is caught between the rising support and falling resistance.

People are starting to think that this is it! They ended up wanting to go long. However, they are actually going long in one of the worst possible spots. That is especially true with days like today.

Apple was in trouble today. We had some great sell signals on the Institutional Indicators that I have. They got compounded and ended up getting pummeled. It went right back to having fresh sell signals once it broke below the buys. It ended up taking off like a rocket to the downside. That was Apple today.

We basically saw the NASDAQ do the same thing. There were sells after sells on the ITP. There was a short term cover, followed by another move to the downside. I obviously was shorting to the downside in the Live Trading Room.

Because we were at the upper end of the falling resistance, I didn’t want to go long. My concern was it would end up rolling over. If you are trading equities, this was no problem. You could just trade Apple directly. All of these things apply.

We are now back into the kill zone here. We really need to watch out. We are still hitting the channels and pulling back. The channels are still the key resistance that I warned you about. The kill zone is well defined. The election next Tuesday will surely have a big impact on the market and volatility. It is a great time to be a trader! I gave you all some great tools to use at the last Wealth365 Summit. This is just an exciting time to be a trader. I wouldn’t get involved in any swing trades till after the election in my opinion. I am going to enjoy the short term trades between now and next Tuesday.

I look forward to seeing everyone in the Live Trading Room or in next week’s videos!

How Last Night’s Video Determined Today’s Live Trading

Welcome back everyone! Let’s do a follow up to yesterday’s video.

I said yesterday that we had distribution bars and falling resistance below them. Seven minutes into the market open I gave another update to my live trading room focusing on that. I also talked about how the DAX hit the falling resistance. The DOW was also right up to that level. We had a real challenge taking place on the RUSSELL, S&P and NASDAQ. The NASDAQ wasn’t from a distribution perspective. It was from the resistance coming above. We were in the middle caught between the support and resistance floating out there.

We did hit the resistance levels this morning. This did cause a lot of stress at 8:30 this morning. We were still struggling with the same thing at 9:30. The RUSSELL had made an attempt to break through yesterday’s high. It was really struggling up there. The S&P was in here as well.

The first hour was really struggling. That caused a lot of whipsaws back and forth. We had some back and forth up to around 10:00 AM CT. What happened after was great. We saw that the momentum indicators was declining and the price was holding in there. I was looking for a failed divergence to break above. We ended up getting that. My institutional indicators were firing off. That led to a 25 plus move to the upside. That was for around 100 ticks to the upside. That led to several great trades in the Live Trading Room. I was using the concept of failed divergence.We were also expecting chop this morning because the daily chart was going down and the hourly was up on the NASDAQ. When you have the two powerhouses fighting with each other it could be choppy. That happened right off the U.S. Open. I waiting till that smoothed out. The sells also didn’t sell which led to the buying.

You guys have a great night and I look forward to seeing you in the upcoming videos!

Here’s A Special Market Update From Rob Hoffman

Welcome back everyone! There were a lot of great trading opportunities the last several days. That was because we broke through the kill zone that I told you all about.

We are back to the same situation that we were in around a week and a half ago. I warned you about it then. I am going to warn you about it again now.  We pushed up and hit falling resistance. We had the rout, and did the same exact thing. The NASDAQ smacked into falling resistance and just rolled back over.

Both times we had accumulation bars. That led the way for all of this. If you have been following me for any amount of time you know what those bars are. Those are very powerful tools. I pointed out that we had those accumulation bars at that time. We had accumulation bars once again. We are having some nice positive activity.

This morning we had three major opportunities. We had beautiful institutional longs this morning. That was from around 8:30 AM CT to 9:30 AM CT. There was another great long opportunity through the lunch hour today. The last one went through the final hour. That worked out real nicely today. There were three big opportunities for today. They ITP was going nuts firing off signals. I try to avoid the sideways stuff when we are chopping back and forth. I really don’t want to be in that. That is where a lot of traders participate. They usually end up just getting hurt.

The long side was the primary focus today. That was until we had the late day selling. What’s next? We started smacking into falling resistance again today. We aren’t that far away on the NASDAQ and S&P. We have a lot of resistance falling on us. A lot of people like to catch falling knives. That can get you cut pretty bad. I don’t like to catch falling knives. I would prefer to short that knife. Once we get below the speed lines, I would then look for long side trades. That is why the long side trades were my favored trades today.

We are going to have distribution bars that have locked in tomorrow on all the U.S. Stock Indices. I am going to be asking myself, are we going to start pushing down? If I get some great sell signals I am going to be looking for short side trades. If we start to overcome the selling, then I will look for long side trades. This is a disastrous area from a swing trading perspective. If you took the swing trade there, you have been under water for a week and half. You then would be wondering if the pain ever ends. I told you that until we get above the channels fresh swing trades will be risky. It is a great time to be a trader right now.

I talked with you a lot about the Bonds months ago. Things just haven’t changed. We keep smacking into falling resistance on the daily chart. There just isn’t a fresh long side trade until we overcome the resistance. We have been hitting the falling resistance all year long. That is just making lower lows. If you were long on the Bonds this year you did what I encouraged you not to do. There is no light on the Bonds as of yet. We have a lot of work to get above the channel.

People still have a lot of interest in Gold. More than half the year we have been down below the channel. Sure, it had a rally as the market went up. It ended up smacking into falling resistance on the weekly and daily charts. There is nothing that is getting me excited with Gold just yet. The levels to beat will be above the distribution bars. That could clear us to the 1275 area from my perspective. Don’t get too giddy about Gold just yet.

I did a presentation piece on this in one of my videos recently. We talked a lot at length on the news articles that came out. There were some key financial publications that said that we are looking at 400 dollar Gold. I told everyone when you start seeing that in the public news it could be the kiss of death. That is exactly what is has been since that time. We have a lot of work to do right now. You are holding on for dear life at the edge of the abyss. The point is there is a lot of pressure. The 400 dollar Gold isn’t happening at this time.

There has been some great long term uptrends on Amazon. We are at the edge of the abyss here as well. It also had some great sell signals if you have been following along with some of my work. There are always people who get trapped above in these situations. If you ignored the sell signals, and are underwater, you are right at the edge here. We pushed down below the 200 day moving average. The weekly chart is starting to put up an accumulation bar. If we can get back above the 1600 level you could possibly see a breath of fresh air. Any further digression to the down side would make me want to get out. I wouldn’t want to see this year and a half trend and this support becomes resistance. That could be a prolonged ouch factor taking place.

IU have been telling you all about Goldman Sachs. It too is at the edge of the abyss. You see the falling resistance and rising support on the weekly chart. It hit the support, and bounced off it. That is why I call this the kill zone. It is a ricochet market. We are right back up to the bottom end of the channel. I need to see who will win this battle. Is it going to break down below the 200 day? That will be very telling for the markets as a whole.

That is a major update on some of the top markets. I hope you have a great night!