How To Find The Hottest Trade Ideas In A Market That’s Struggling

Welcome back everyone! There are a lot of things to pay attention to as we head into Friday.

The NASDAQ was once again struggling with the 7000 level. We have a big fat distribution bar. You can see that time and time again we keep hitting that level and failing to break through. I am looking to see the 7000 level become a support level. Instead of falling and dying a horrible death, I want to see it get above there. That is really pivotal.

The other markets really struggled more today, especially the RUSSELL. The S&P is right at the daily speed lines. We are just slightly above the speed lines on the RUSSELL. The DOW pulled way away from the speed lines. The DAX is also holding on for dear life at some support.

I want to see some follow through heading into tomorrow. The NASDAQ has really defied that today. We had a distribution bar 50% off the high. If we go into this and start breaking down tomorrow below the speed lines, that could signal deeper selling into Friday. We are going to be watching that level very closely. I want to see if the NASDAQ is willing to push down further too. I want to remind everyone that we have a lot of distribution on the S&P. It is almost hard to see it all because there is so much. Those are bars that are 45% off their high or 45% or more off their lows. We have accumulation bars in here as well. I was telling you all about this mix. I want to see if we can break out / break down from that. That could show me a definitive trend. That has not happened yet. We pushed down and came back up. I want to take a multimarket approach to this tomorrow. I want to be watching the NASDAQ 700 level closely.

You can see what happens here at www.wealth365.com. We had a climb on Facebook and Amazon. You can see the rankings for several different stocks. Facebook had jumped up even higher. That led to a very nice continuation here today. If you were using the ranking system and saw that it was climbing, that would have really grabbed your attention.

Amazon did really well here too! It is just continuing to climb. These other markets are pulling back sharply. The ones with high rankings on the Wealth365 site were all high. You can get custom news on what you want. You can get stocks, options, futures, precious metals, liberal news, conservative news, what’s hot, and what’s not. There are so many different areas you can look at. You can get that custom directly to your inbox. You can also check it out on your website. This has become extremely popular. There are just so many tools being added to that site. Make sure you go to www.wealth365.com to check that out! There is just so much valuable information there.

That is our strategy going into tomorrow! We will be checking back for news and updates to see what is hot and not. Take care everyone!

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