Market Coiling Before The Next Big Move Coming

Welcome back everybody! As we go ahead and take a look today. The overall theme is consolidation. The beauty is though that at least the last couple days I have been able to go ahead and trade during the special BBT insider events we have been doing in the live trading room Tuesday, Wednesday and again tomorrow. The bigger picture we do have consolidation. This has led to some focusing on trading back and forth.
Here is a screenshot where we were talking about that this morning. We were having what we call sideways trading and technical damage on a lot of the charts here. If you don’t know what that is, you should go back and watch some of my previous videos on that topic here. The market as a whole, in the bigger picture is kind of coiling up here getting ready for a big move. So we are seeing some great whipsaws back and forth here as the market is getting ready for its next move.
If you take a look, not all, but some of the different charts here are, are basically inside days. For instance, the Russel here is an inside day. The S&P is an inside day. That’s when today’s high is lower than yesterdays and today’s low is higher than yesterdays. So that’s an inside day. We’re seeing that on the Russell and on the S&P. And we are pretty close to that. Certainly, the bodies themselves are within the previous day. So, this is all coiling up here. Falling resistance, rising support, in these kill zones that I have been telling you about.
So, the market is getting ready for nice moves again here. That’s really going to continue to make trading nice. And as I told you the coming months are going to be phenomenal. We are seeing more and more of that. We’re going to be watching that very closely here into Thursday and Friday. Looking for breakout/breakdowns from these areas. And don’t forget in the bigger picture here this is all part of a bigger play at hand, that it’s part of this 15-month triple top I have been talking about for weeks.
So, what’s happening is you have the accumulation from last week were are trying to get above the highs of those last big accumulations. At least try to challenge the 27,000 level. That’s what you want to see on the futures if you are looking for a long. If you are looking for a short you want to look for a breakdown below the low of last week’s accumulation bar. Anything in between is just short-term noise.
So, we are seeing the Markets coil up. As you can see with Wednesday’s trading. We are in a very tight range on the week here. You can see it barely, its this range right here. Compared to the previous weeks. Coiling up here getting ready for some big moves. If you take a look at previous times when you have those tight coil ups, a lot of times they can lead to some really good moves. So, a lot of fun we are going to have a great summer ahead of us. You guys have a great night! Looking forward to seeing you guys in tomorrow’s special live trading event! We will see you in upcoming videos! Take care, everyone! To learn more about Rob Hoffman Trader, visit www.becomeabettertrader.com

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