[Market update] watch THESE stocks on Monday

Welcome back everyone! Let’s hit a lot of topics here. First of all, from our last update, I had told you as I have many times the last several months about the key resistance. It’s still to the tick resistance. I told you $27,000 level on the Dow. Today we pulled back and were rejected at that level. The levels I gave you several months ago have proved themselves as super important. As we’re looking at this now. From a weekly basis, we want to get above $27,000 on the Dow Futures and take back off. That could lead to a Dow $30,000. If we can make that support, that could be really exciting for the market. If we break that down to a weekly chart, you’ll recall that the last video I shot for you, we were looking to break above those key resistance levels and that led to some really nice moves particularly on the S&P, the Dow and the Nasdaq. It had nice moves on the U.S. side. Also on the Dax it gave us some nice trading opportunities the last few days. We smacked into that resistance level and the rest is history. This is why I keep going back to this all-important level. If we’re not paying attention to the bigger picture, you’re missing why we’re getting rejected. So, how are we looking at this from an intraday basis. When we see the sells, we realize we’re at a key resistance so we’re looking for sell-side trades. But, when we see positive divergences form, we’re looking for my momentum and fast triggers fire off their sell signals. When we see a positive divergence, we want to back off those shorts and see throttling to the upside. Everything got into alignment and off to the races it went. Once you get the negative divergence, then the rest of the day was a dead market. That’s why we talk a lot about what we’re looking for to back us off the buy signals and sell signals because that could lead to great trading on an intraday basis.

On a swing trading basis, one thing everyone should be doing is go to www.wealth365.com at which time you can read the Wealth Strength Index. It’s identified so many great trading opportunities. Facebook we had really high numbers and it smacked into target number 2. We had really high numbers (300s) on IOMN and FISV. You can go to www.wealth365.com and go to the top of the page so I encourage you to go back to that page at wealth365.com. With that being said and get access to some of those key things to identify some great trading opportunities.

With FISV, we still have some room to grow. We’re beyond the target #2 so that’s become a runaway. The reason I liked this early in the week is the reverse inventory retracement bars led to a push up here. I want to see Monday if we can pull back and push up above that 380 level. Facebook is at target #2 after firing off some great Trader Rescue signals. So the big thing about Facebook is between this 198 and 200 level, there’s a block of resistance. If we can break above that, we can retest  the previous high set last July, which was around the 220 level. Keep checking that WSI to see if that can give more opportunities as well. The daily charts are reacting. The information I’m showing you continues to be what you need to know. I tell this to you in advance and it continues to be working. I’m still bullish unless I get rejected at this level. We start to get below those accumulation bars and we start to look for the bearish type trades again because we still have negative divergences taking place. It’s noticeable very much on the Nasdaq as well. We’re at this big inflection point. I can’t emphasize that enough.

One more thing I can’t emphasize enough. Go ahead and come to the Wealth365 Summit. Take a look at the lineup that’s happening on Monday morning. You’ll have Ralph Acampora, Ed Yardeni, Tom Sosnoff, Donnie Roberts. It goes on and on. Ralph has given a lot of great insight as have Ed. It’s going to be a great lineup on Monday with Tom Sosnoff. We have an all star lineup. Get registered now by going to www.wealth365.com/bbt so you don’t miss a minute of that kick off day.

Have a great weekend!

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Stocks And Markets You Need To Watch Monday