The Pullback – Bounce Play Worked Flawlessly Today! So Now What?

Welcome back everyone! What an exciting day today! I told you all last night to watch out because we were expecting a sharp pull back. We saw a huge influx of people taking a look at the WSI indicators. People are starting to pay more attention to them.

We came in today and saw a very nice pull back. That put the fear into people! That is exactly what we wanted to see. We wanted to see it whoosh to the downside, clean the clocks of all the average retail traders, and then charge back up. That is exactly what I told you from last night.

If you go to www.wealth365.com you can see all the rankings. Finally a lot of people were starting to catch on. A lot of people were noticing that it might be time to shake the tree. The tree did get shook up. That led to a nice buy opportunity for the rest of the day. I told you all to watch for a pull back into the speed lines. That is exactly where we wound up on at the end of the day. There are still a lot of different stocks performing very well! If you look at the Wealth Strength Index you can see that. Make sure you click on the buttons at www.wealth365.com. You can check out all of the articles too.

I think this will be the same situation over the next several days. As long as we stay about the speed lines we will be focusing on fresh long side trades. Because of some of the patterns we see here, I am going to be focusing on any sort of pull back into the speed lines. That will be a pause for me. It was like that for the most part this morning until we got down below rising support. I did fire off a money making short in the Live Trading Room this morning. I then told everyone to watch out because of the Inventory Retracement Bar. The focus was all to the longside or bust. That’s where it’s going to continue the next few days. Pullbacks to rising support mean no trade there. Breakdowns of the hourly support can open up some short-term shorts and then on a daily basis. If you’re holding for a handful of days, that’s how I’m looking at it from my perspective for swing trades. On a daily basis, below the speedlines, if we’re pulling back to the speedlines, I don’t want to focus on longs. That was the strategy for today and that worked very well. If we pull back down into speed lines, then the concern is could we see a deeper correction. Right now, keep in mind the Dow can pull back a few hundred points. Of course the Russell we can use a barometer with this. That’s been slowly pushing up but the real winner of this whole bunch has been the Nasdaq as I previously mentioned.

One other thing, do not forget, you are welcome to join me and countless other traders. We have people who are not typically accessible on a day to day basis. You’re welcome to check out some of the speakers that we have and past speakers that we’ve had. We have a whole bunch of great speakers that are going to be coming. This event is going to be the best yet. For those of you who are signing up and asking about Kevin Harrington’s free gift, don’t worry that’s coming to you after the event is done. It’s going to be a great and valuable gift for everyone that comes. I’m looking forward to his presentation “The Secrets of Wealth”. He’s built several $100 million businesses. This is going to be the biggest and best Wealth365 Summit event yet. Go to www.wealth365.com/bbt to get registered now.

I’ll look forward to seeing you in the live trading room tomorrow and in the upcoming videos.

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Rob Told You To Watch NASDAQ Stocks! Now He Says Watch Out!

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