After An Exciting Start Of The Year, Rob Reviews AMZN, AAPL, And More Tonight

Welcome back everyone!  Let’s take a look at several different things tonight.

The S&P and the DOW are disconnected right now.  The DOW is struggling to break through some key resistance from the past few weeks.  The S&P has been matching the NASDAQ effectively.  The RUSSELL and DOW are lagging.  I want to see if we can get above the 24900 level on the DOW, make that support, and then take back off.

We are a little overcooked on the NASDAQ and S&P.  Those things can happen heading into the New Year.  As long as we remain above the 2710 level on the S&P, the 6550 on the NASDAQ I will continue to look for fresh longs.

We have talked about this over and over again.  First it was the 1000 level, then the 1100 level, and now the 1200 level.  We tried to get above that, failed, couldn’t take back off.  We have been anxiously awaiting that.  We finally hit that 1200 level today.  We are going to be watching that level with a lot of anxiousness.  We could potentially see the 1300 level and beyond.  It is looking good so far.  We have to pass the test.  We can’t come right back into this tomorrow until then.

Crude Oil is another one that we have been focusing on for quite some time.  I have been looking for the push. We got those on the weekly and daily charts.  That led us to the 58 level.  Over the holidays we got up to the 60.  That was the initial target.  Now what?  We had a pretty wide range day today.  After those I usually see a pause of pull back.  I would like to see it pull back, hold the 60 dollar mark, in order to look for longs.

The Bonds have been terrible for months.  You can see that long term consolidation.  It just really hurts us.  It just really hurts to look at it.  There has been no change since our briefings.  This one is just not worth the investment from my perspective.  There are too many things moving and shaking to warrant sticking with this one.

The Dollar is near some recent lows.  It is also pulling into some falling support.  I want to see it break through the 91 area because of the Euro.  The 120 level on the Euro was the key resistance level.  We couldn’t break through and hold that.  We just failed it.  This time we are actually pushing up above the 120 level, with the Dollar hitting that low.  If we can hold that level we could see much higher Euro prices.

Apple is another one of the key markets that we have been talking about.  The 175 level has been the level to beat.  We just haven’t been able to do that.  It tries to get above and pulls back.  It just can’t get above the 175 and stay there.  That continues to be a monstrosity for Apple.  We really need Apple to get above 175, show it is support, then go on its’ way to the 200 dollar mark.

Netflix was doing the same thing.  We have been waiting for months for Netflix to get above the 200 level.  We have had multiple tests of 200 in October to November.  We just couldn’t do it.  That just could lead to some nasty pull backs.  Here we are charging back off to the races.  I want to see if it will pull back, hold that 200, then take back off.

You can see that we have a lot of different instruments that are poised for some continuation opportunities.  We have markets that are moving great.  It is going to be a great 2018.

Don’t forget we are 11 days away from the massive Wealth365 Summit.  I am really looking forward to being there with you during that whole process.  I am going to be sharing some stuff that I don’t normally share.  A lot of speakers are going to be doing the same as well.  Go to www.wealth365.com.  It is free to register!  I will be posting content on the blog.  You can go there to see great additional articles from other educators, analysts, and other investors.

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