Market pushed through Rob’s levels… what’s next?

Welcome back! We’re going to keep this nice and short and sweet for you this evening but it’s important nonetheless. Basically, what’s happened here is we’re waiting for some things to move. At the beginning of the week with our options alert service, we put on a really smart options trade. People are quite happy about that right now. Here’s what we’re looking for next now that everything is pushing a bit. I want to see the Russell get back above that channel and make that support. The S&P pushed up through the channel, the Nasdaq pushed through the channel and the Dow pushed through the channel. I want to hold a little bit and show that’s support and take back off again. Look what’s happening in the bigger picture. We’re coming up on those levels. Remember, 26,500 and 27,000 are the key levels. We’re right smack in the middle of that now. Let’s see if we can ultimately make 27,000 a key support level finally from the resistance. That could bode very well for much higher moves. What a difference the week makes. The market is going to heck in a handbasket and recession. Isn’t it funny how it held the major support levels? That’s why I said very selective trades and options only trades. Not underlying equities trades. I said swing trades and options are the way to go. That’s why I put out the alert I put out. The most recent options pick we put on just teared to the upside the last few days.

We’re not out of the woods yet. We did not pull back and take back off. In fact, we tried to pull back, push up and rolled over to make a sell signal with the distribution bar. So, when it tried to take back off, it couldn’t break through the highs and made a distribution bar and that’s why down the hatch it went for a few weeks. Right now, this is great. Our bullish options trades are working great. What we need to do is make these key resistance levels on the channels (2945, 1523, 26500, 7761). In the meantime, we’re going to continue to do the great things that we’re doing. Have a great night!

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