Will People Watch Their 401k’s Become 301k and 201k’s With This Market Volatility

Welcome back everyone!

Amazon is back in the 1500 level. I was hoping that level could become rising support. We never made that level support. We are right back down to 1500. This is a critical area for Amazon. If we break too much lower it could open up the flood gates for more selling. This level is extremely important.

You know that the 175 level has been an area of importance with AAPL. We just cannot get the traction to get above and stay above it. It continues to struggle around that area. That was right around the high of today. There are no fresh longs from my perspective. That is until we get above the 175 level. That could of course come with risk.

Watch out for Netflix. We are at a key 300 level. They have been spending a lot to get programming on their shows. That might be a controversial statement for some. We have Netflix as a family. They are spending a lot to get that programming. We have to take a look at how much spending that they are doing versus the subscribership.  We bounced off of that 300 level the other day. That is a critical level for this stock. This is a monstrosity of a support level. We could quickly sink to the 250 area. I will be watching the 300 level very closely.

Facebook is under pressure! The bottom line is that Facebook makes most of its money from advertising. Almost all of their money is from advertising. If that is the case, there is a problem here if legislation starts to restrict the using of data that they have accumulated. We are coming up on the 150 level. We briefly bounced off of it. That is the round number support. If we break below that level we could see much lower prices. We could see below 136 or lower.

If you have access to my Premium Daily Videos, you know that I put out a trade alert this morning. I did a lot of trades in front of people today. I knew that there was more to come. I wanted to get that message out to all of my alert subscribers as well. If you are a member go check it out!

It all started with some great sell signals early. The sell signals kept coming back over and over again. The short term buy signals were quickly pushed back through. They aren’t really buy signals in a down trend.

We basically took back all of the gains from yesterday. That is what we call equal and opposite. We have had several of those back to back. We are looking to see continuation. The most favored trade for me is a short. That is someone who is willing to short aggressively. The market tends to walk the stairs up, and ride the elevator down. That is where the biggest and fasted gains will come for me. I would love for us to break down below the lowest lows. Those would also tie in with some long term support levels. There is long term support in the RUSSELL, DOW, and NASDAQ. Let’s break down below those areas to get the party started.

That is for people who aren’t active traders and investors.  We are going to focus on that. I realize the challenge will be the W patterns that we locked in on the stochastics. The next day after a pattern like this is often up. I hope that this will open up, have a small up bar, then drive to the down side. We had something like that earlier. It smacked into the resistance and went off to the races. I am going to be focusing on that.

Don’t forget that I have a really phenomenal presentation at the upcoming Wealth365 event. I may even change it up even more based on the needs of the summit. It is an incredible lineup of speakers. You have legends like Ralph Acampora, James Rosebush, Toni Turner, Rick, Scott and many more. There are so many guys in the Real Estate IRA side. It will be all things wealth! There is even a guy who will be talking about AirBNB and something like that about RVs. I am excited to be partnered with it. I am looking forward to seeing you guys there as well.

Go to www.wealth365.com/bbt to get signed up. I am also donating several thousands of dollars of prizes. They will be giving those prizes out all year long. There are a lot of people giving out 1-5 thousand dollars’ worth of prizes. That will be really exciting!

You guys have a great night and I look forward to seeing you guys in tomorrow night’s videos!

To learn more about Rob Hoffman Trader visit www.becomeabettertrader.com

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